Gaming Goliath Square Enix Backs Company Building Virtual World on Ethereum

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Square Enix, the Japanese gaming giant behind world-renowned games such as Final Fantasy and Tomb Raider, has invested in Ethereum-based game developer TSB Gaming.

In the third quarter of 2019, Square Enix participated in a $2.01 million investment round launched by TSB Gaming and its parent company, Animoca Brands.

The investment round also included participation from Japanese startup B Cryptos Inc., Mindfulness Venture Fund and blockchain equity fund True Global Ventures 4 Plus Fund GP, among other investors.

Animoca Brands reports that 83% of the investment came in cash with the remaining 17%, roughly $340,000, in Bitcoin (BTC) and Tether (USDT).

TSB Gaming and Animoca Brands are launching The Sandbox, an Ethereum-based game that allows players to leverage a utility token called SAND to buy plots of virtual territory called LAND.

The virtual terrain can then be used to build in-game assets and create unique gaming experiences.

So far, TSB Gaming has raised more than 1,300 ETH, worth roughly $175,175, by pre-selling over 10,000 LAND.

Animoca Brands is planning to launch The Sandbox’s decentralized virtual world in the latter half of 2020.

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