The metaverse known as The Sandbox has recently made headlines with its acquisition of German game developer Sviper GmbH, as announced in a press release.
The move is expected to add a creative and experienced team of developers, engineers, and creatives to The Sandbox, allowing for the creation of more engaging experiences with a focus on social features, multiplayer gameplay, and new Game Maker experiences for creators.
Agnitio Capital acted as M&A advisor to Sviper during the acquisition process. Sviper GmbH, led by CEO Ole Schaper and CFO Mark Buchholz, has more than 25 years of experience in mobile, PC, and multiplayer gaming with established brands.
The team has already been collaborating with The Sandbox for over a year and is expected to further enhance the gaming experience available to the internal teams and creators of The Sandbox.
According to Sebastian Borge, COO and co-founder of The Sandbox, the German team is a creative force driving innovation and quality. The Metaverse Platform’s CEO and Co-Founder Arthur Madrid added that The Sandbox has gained credibility by demonstrating innovation, quality, and working with major partners.
The company is focused on creating user-generated social gaming experiences, and key features include a growing social platform and revolutionary aspects of Web3, according to Mark Buchholz, CFO, and co-founder of Sviper.
Despite a significant decline in trading volume in the Metaverse market last year, The Sandbox has seen sales growth across the board in its metaverse. Non-fungible tokens (NFTs) have surged with $1.4 billion in sales and an 18% year-on-year growth.
With a total market capitalization of $167 million or more across all platforms in the metaverse, Sandbox Game is demonstrating the value and potential of digital environments in the NFT industry.