Gaming Goliath Square Enix Backs Company Building Virtual World on Ethereum

Fibo Quantum

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.

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.