{"id":44510,"date":"2025-08-28T08:16:45","date_gmt":"2025-08-28T08:16:45","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=44510"},"modified":"2025-08-28T08:16:45","modified_gmt":"2025-08-28T08:16:45","slug":"the-sandbox-cuts-half-of-its-staff-restructures-as-animoca-brands-take-control","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=44510","title":{"rendered":"The Sandbox Cuts Half of Its Staff, Restructures as Animoca Brands Take Control"},"content":{"rendered":"
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Metaverse platform The Sandbox is undergoing a sweeping restructuring that will see more than half of its roughly 250 employees laid off, according to a report from French crypto outlet The Big Whale<\/a>. <\/p>\n

The move comes alongside a leadership shake-up in which co-founders Arthur Madrid and Sebastien Borget have been sidelined from executive roles. Their responsibilities are now being overseen by Yat Siu, CEO of Animoca Brands, The Sandbox\u2019s majority shareholder.<\/p>\n

The restructuring reportedly includes closing offices in Argentina, Uruguay, South Korea, Thailand, and Turkey, with the company\u2019s base in Lyon also expected to shutter. <\/p>\n

The measures highlight the platform\u2019s struggle to translate years of investment into sustained user engagement. Despite raising $300 million over the past eight years, The Sandbox has seen its daily active users dwindle to just a few hundred, many of whom, sources claim, are bots operating primarily in South America.<\/p>\n

The platform\u2019s native token, SAND, has also performed poorly despite the crypto market entering an “altcoin season”<\/a> in recent months. It had a market cap of $6.2 billion in 2021, that figure has now slumped to around $700 million following a 90% drawdown.<\/p>\n

A key hurdle in the restructuring is what will happen to The Sandbox\u2019s crypto treasury, which is estimated to be between $100 million and $300 million. Much of the treasury is proceeds from $350 million worth of “virtual land”<\/a> sales during the metaverse peak in late 2021.<\/p>\n

It could go to a governance vote<\/a>, although it’s worth noting that there has been just 291 votes from SAND holders across three proposals submitted in August.<\/p>\n

The Sandbox did not immediately respond to CoinDesk’s request for comment.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Metaverse platform The Sandbox is undergoing a sweeping restructuring that will see more than half of its roughly 250 employees laid off, according to a report from French crypto outlet The Big Whale. The move comes alongside a leadership shake-up in which co-founders Arthur Madrid and Sebastien Borget have been sidelined from executive roles. Their […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-44510","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/44510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44510"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/44510\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}