TechFlow reports, citing VentureBeat, that The Sandbox, a user-generated content metaverse platform, has raised $20 million in convertible debt financing at a $1 billion valuation. The round was led by Kingsway Capital and Animoca Brands, with participation from LG Tech Ventures and True Global Ventures.
According to the report, note holders will have the right to convert their notes into equity of Bacasable Global Limited under the same terms as the existing preferred shares.
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