SandStorm aims to connect brands with Metaverse builders.
SandStorm Announces $2.5M RaiseSandStorm is preparing to launch on Ethereum and Polygon.
The Metaverse project will showcase its new platform and NFT marketplace later this month at SXSW, the annual tech-focused conference held in Austin, Texas.
The new platform aims to connect leading brands that are yet to establish a presence in the Metaverse with top Web3 engineers while educating new participants about the potential of blockchain-based virtual worlds.
SandStorm says that integrating with Polygon will help users save on gas fees and let engineers mint NFTs in file formats at a low cost. Unlike many other NFT projects, SandStorm will primarily focus on one-of-one pieces, the project’s CEO Steve McGarry said in a press release.
Ahead of the launch, SandStorm has raised $2.5 million in a seed funding round. Participants in the raise included The Sandbox co-founder and Chief Operations Officer Sebastien Borget, Fenbushi Capital, Sanctor Capital, The Sandbox, and Rarestone Capital, while the project has formed ties with several key Metaverse players including The Sandbox, CyberKongz, and vEmpire.
Discussing the raise, Borget said that The Sandbox was “thrilled to invest into the SandStorm platform,” commenting that it fulfills the Metaverse’s need for a platform to connect builders from across the industry.
McGarry added that the platform had seen “overwhelming demand” with 50 brands and over 500 builders awaiting the launch. SandStorm already runs a monthly builder program in collaboration with The Sandbox, with winners taking from a $50,000 SAND prize pool each month.
SandStorm’s launch comes as mainstream interest in the Metaverse continues to soar. Since Facebook announced its plans to rebrand to Meta in October 2021, the likes of Adidas, Nike, Warner Music, and JPMorgan have rushed into the space by scooping up rare NFTs, forging partnerships, and acquiring digital plots of land. Crypto-native Metaverse games like The Sandbox have fared particularly well: the most sought-after plots of virtual real estate in the game now trade for millions of dollars worth of Ethereum.
Disclosure: At the time of writing, the authors of this piece owned ETH, MATIC, and several other cryptocurrencies. Some of the equity-holders in Sanctor Capital also hold equity in Crypto Briefing.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
NFT Express: Your on-ramp to the world of NFTs
At Tatum, we’ve already made it super easy to create your own NFTs on multiple blockchains without having to learn Solidity or create your own smart contracts. Anyone can deploy…
What Can You Do in Decentraland’s Metaverse?
Join Crypto Briefing as we explore the events, games, and attractions bringing players into the virtual world of Decentraland. What Is Decentraland? Decentraland is a 3D virtual world owned by…
Opinion: Snoop Dogg Will Inspire Artists to Enter the Metaverse
In the space of a few months, Snoop Dogg has become a Metaverse mainstay. We explain what it could mean for other artists. How Snoop Dogg Embraced the Metaverse Snoop…
Warner Music Enters Metaverse With Splinterlands Tie-Up
Warner Music Group has entered into a partnership with the blockchain-based trading card game Splinterlands. The deal marks the game’s first major music partnership. Warner and Splinterlands Join Forces Warner…
