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Animoca Brands (ASX:AB1) subsidiary Pixowl, which is developing a decentralized blockchain gaming platform called The Sandbox, recently completed a $2.5 million fundraising round led by Hashed, a Korean blockchain accelerator and investment fund.

According to the announcement, Animoca and Pixowl plan to develop a metaverse similar to Enjin (ENJ) where virtual worlds and games will be created collaboratively without a central authority, fueled by non-fungible tokens (NFTs).

“Our vision for the future of decentralized gaming is that NFTs are a catalyst for mass adoption,” said Pixowl COO Sebastien Borget. “Players will benefit from NFT interoperability across games, giving items a value beyond their utility based on factors such as an emotional attachment to their creator, the fame of previous owners, or track record across games.”

The Sandbox is designed as an open, user-generated content platform, fueled by SAND tokens, which empower players through community voting, staking, crowdfunding, and decentralized governance. The announcement states that these tokens were part of the round, indicating that investors like Hashed are continuing to accrue pre-listed digital assets.

Hashed also recently launched Hashed Labs, a startup program for founders focused on building decentralized applications that address real-world use cases. Notably, the first major focus for the new accelerator looks to be blockchain gaming, as the Hashed team sees video games as one of the best applications of blockchain technology in its current form.

“Hashed considers crypto games to be one of the best testing grounds for experiencing the virtual world that blockchain will bring to us,” added Hashed partner Ethan Kim, who is leading Hashed Labs.

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Additional investors in the round include Helix, Mind Fund, True Global Ventures, Blocore, ThunderCore and Alexis Bonte. The Sandbox is expected to launch in the fourth quarter of 2019.

More: The Sandbox Blockchain Gaming Platform Receives $2.5M Investment Led by Hashed
Related: Hashed’s New Incubator Will Initially Focus on Blockchain Gaming

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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