Metaverse’s first “strong enemy” announced financing, and Sandbox Network completed a 200 million yuan strategic financing

Players following Roblox, the “Meta Universe First Share”, have secured financing.

According to CVSource’s investment data, Sandbox Network has completed Series A and Series B financing in 2018 and 2019. The capital includes many well-known institutions or industries such as Huanju Times (YY), Yilian Capital, Dreamland, and International Finance Investment. capital.

Metaverse’s first "strong enemy" announced financing, and Sandbox Network completed a 200 million yuan strategic financing

Players following Roblox, the “Meta Universe First Share”, have secured financing.

Touzhong.com learned that Zhuhai Sandbox Network Technology Co., Ltd. (hereinafter referred to as “Sandbox Network”) completed a 200 million yuan war investment financing, led by a leading Internet company. This financing will be used to further strengthen product research and development and improve UGC ecological construction.

Similar to the Roblox model, which is regarded as the closest company to the meta-universe concept, Sandbox Network focuses on the development of game UGC engines. It has grown rapidly after its establishment 5 years ago and currently has more than 100 million users worldwide.

It is reported that the sandbox network is the second largest game UGC platform in the world, after Roblox.

According to CVSource’s investment data, Sandbox Network has completed Series A and Series B financing in 2018 and 2019. The capital includes many well-known institutions or industries such as Huanju Times (YY), Yilian Capital, Dreamland, and International Finance Investment. capital.

The world’s second largest game UGC platform

Metaverse’s first "strong enemy" announced financing, and Sandbox Network completed a 200 million yuan strategic financing

Sandbox Network was established in 2015. The founder Chen Weiming used to work at YY.

After Chen Weiming venture out from YY, made a product called ” My World connectivity platform”, the main function is to “My World (Minecraft)” turned into an online game from the stand-alone game. In the process of making the product, Chen Weiming made friends with a large number of Minecraft users and gained insight into the needs of users who like game creation, and then turned to create a sandbox network.

At present, the sandbox network has developed into a team of nearly 300 people, of which nearly 80% are product research and development personnel, and many engineers come from well-known universities such as Tsinghua University, University of Science and Technology of China, and Zhejiang University.

The core products of Sandbox Network include the game platform Blockman Go and the game editor Blockman Editor. Sandbox Network said that both are developed on the independently developed game engine, and have now developed into a game UGC platform with nearly 5 million daily active users and over 200,000 monthly active developers.

Sandbox Network focuses on overseas markets such as Latin America and Southeast Asia. Therefore, this round of meta-universe boom has not yet been well-known in the domestic market, and belongs to a “semi-underwater” project. After 6 years of rapid development, Sandbox Network is now the second largest game UGC platform overseas after Roblox, and the growth rate of users and revenue has reached more than 100% for several consecutive years.

According to industry insiders, the sandbox network is still “competitive” with Roblox overseas.

Sandbox Network told Touzhong.com that compared with Roblox, Sandbox Network as a latecomer has certain latecomer advantages. Roblox’s UGC ecosystem is highly mature and the entire ecosystem is fiercely competitive. Blockman Go’s UGC ecosystem is at an early stage. Most developers are still participating in ecological content creation driven by interest. For professional individual creators or teams with game development skills, Blockman Go has the advantages of low competition intensity and early traffic dividends.

The sandbox network has certain advantages on the authoring side and the content side. For example, on the authoring side, Roblox’s authoring tools have a high entry barrier, and Blockman Editor can ensure that developers at every ability stage can participate in the content creation process through its tool chain. On the content side, the sandbox network has Roblox more game types and better device compatibility, especially for low-end models.

In overseas markets, about 40% of Android phones have low memory and poor CPUs. Roblox’s support for these devices is relatively weak. Blockman Go is specifically optimized for this type of equipment to ensure that users have a smooth gaming experience.

“A creative community for almost all game types”

Metaverse’s first "strong enemy" announced financing, and Sandbox Network completed a 200 million yuan strategic financing

Meta universe has become a hot word that cannot be avoided at the moment.

First, Facebook changed its name, and then the Microsoft Ignite conference announced that it would use Mesh and gaming platforms to make its way into it. Recently, AMD, Nvidia and other giants talked about the meta universe and the future at product launch events. Similar to the sandbox network model, Roblox, known as the “first stock of the meta universe,” is now valued at nearly 70 billion U.S. dollars.

The meta universe represents the future, which has almost become a market consensus, but there is no unanimous understanding of what the meta universe is.

Chen Weiming also shared his views on Meta Universe to Touzhong.com. In his view, the development of any thing is dominated by two core forces-demand and technology. At present, the discussion on Metaverse is more focused on the technical level or product features or forms derived from the technical level, but ignores the discussion on the demand level.

“I prefer to give the definition of meta-universe that I understand from the level of user needs-meta-universe is a cyberspace that allows people in it to volatilize emotions, create value, and gain identity,” said Chen Weiming.

“In other words, if any network product has the characteristics of identity definition, value creation, and emotional stimulation at the same time, it is a practitioner in the direction of “meta universe.” There are only differences in fineness between different “meta universes.” There is no essential difference. Identity, value, and emotion are the core essence of the meta universe, and other concepts such as VR, AI, and blockchain are all auxiliary factors.”

Long before the meta-universe concept was widely discussed, the sandbox network had been deeply involved in the UGC track for 6 years. Chen Weiming told Touzhong.com that the company’s long-term development direction is to create a cyberspace in which users all over the world are happy to live. The realization of this goal is divided into several specific stages.

The first stage is to attract players through an effective collection of game content and form a player community with more than tens of millions a month; the second stage is to continuously empower creators to form a decentralized, bottom-up content production method. Let the platform content have the ability to continuously metabolize; the third stage is based on the services provided by the sandbox and user creativity, to jointly create an online “life” that allows users to reap happiness, helps users create value, and allows users to gain more friendship and social recognition Paradise”.

Chen Weiming told China Investment Network that the sandbox network is currently in a state where the first phase is basically completed and the second phase is being perfected. The current business model is mainly based on charging through virtual items in the game platform, and then sharing it with third-party developers.

 “The UGC platform created by Sandbox Network will eventually become a creative community that can support almost all types of games,” Chen Weiming said.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/metaverses-first-strong-enemy-announced-financing-and-sandbox-network-completed-a-200-million-yuan-strategic-financing/
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