TechFlow news, August 28 — According to The Big Whale, the metaverse project The Sandbox is undergoing significant changes. Co-founders Arthur Madrid and Sébastien Borget have stepped down from day-to-day operations, with Animoca Brands executive Robby Yung taking over as CEO. Borget will transition to a global ambassador role, while Madrid becomes non-executive chairman.
The company is also conducting large-scale layoffs, affecting more than 50% of its workforce, and closing multiple international offices, including those in Argentina, Uruguay, South Korea, Thailand, Turkey, and Lyon, France.
The Sandbox is reducing its focus on the metaverse and shifting toward developing broader Web3 applications, including a memecoin launch platform based on Base.
