SandStorm Heads to Polygon, Ethereum After $2.5M Seed Raise

SandStorm aims to connect the brand with the Metaverse builder.

SandStorm Announces $ 2.5 Million Raise

SandStorm is preparing to launch on Ethereum and Polygon.

The Metaverse project SXSW, an annual technology-focused conference in Austin, Texas, will showcase the new platform and NFT marketplace later this month.

The new platform aims to connect major brands that have not yet established a presence in the Metaverse with top Web3 engineers and educate new participants on the potential of blockchain-based virtual worlds.

According to SandStorm, integration with Polygon will save gas bills for users and allow engineers to create file format NFTs at lower cost. Unlike many other NFT projects, SandStorm focuses primarily on one part, project CEO Steve McGarry said in a press release.

Prior to launch, SandStorm raised $ 2.5 million in a seed funding round. Participants in the salary increase include Sandbox co-founder and Chief Operating Officer Sebastian Borget, Fembusi Capital, Sanktor Capital, Sandbox, Rare Stone Capital, and several projects including: We have relationships with major Metaverse players. Sandbox, Cyber ​​Kongz, vEmpire.

Borget, who talked about pay raises, said Sandbox was “excited to invest in the SandStorm platform” and commented that it meets Metaverse’s needs for a platform that connects builders across the industry.

McGarry added that the platform has “overwhelming demand” with 50 brands and more than 500 builders awaiting launch. SandStorm is already running a monthly builder program in collaboration with The Sandbox, with winners winning from the $ 50,000 SAND prize pool each month.

The launch of SandStorm is due to the continued surge in mainstream interest in the Metaverse. Since Facebook announced plans to rebrand to Meta in October 2021 Adidas, Nike, Warner musicWhen JP Morgan We entered this space by scooping up rare NFTs, building partnerships, and acquiring digital parcels of land. Cryptographic native metaverse games like The Sandbox worked especially well. The game’s most popular virtual real estate plot is now being traded for millions of dollars worth of Ethereum.

Disclosure: At the time of writing this, the author of this work owned ETH, MATIC, and several other cryptocurrencies. Some shareholders of Sanctor Capital also hold shares in Crypto Briefing.