The Sandbox, a subsidiary focused on the web firm of web3 with Hong Kong headquarters, Animoca Brands, is restructuring its operations, with its co -founders moving to new strategic roles.
The co -founders Arthur Madrid and Sebastien Burget have made the transition as part of the ongoing commercial optimization in the Sandbox, Borget told Cointelegraph on Thursday.
The co -founder Madrid moved from CEO to another, while Borget assumes the role of global ambassador, which represents Sandbox in the industry events around the world.
“Both remain deeply involved in the Sandbox and its ecosystem, with key initiatives that will be announced later this year through the appropriate channels,” Borget said.
Advances of the staff trimming
As part of the restructuring, the Sandbox is saying goodbye to the staff, Burget confirmed Cointelegraph, although it did not provide specific numbers.
“As the mature sandbox, we are continuously optimizing our operations to obtain maximum efficiency,” said the executive, added that a key part of this strategy implies the implementation of artificial intelligence advances.
“The impact of the advances of AI in the games has been well documented and allows us to accelerate our display of content, characteristics and liveops while maintaining a thinner and agile team,” Burget said, adding:
“While the decisions that impact the staff are undoubtedly difficult and are not taken lightly, they are necessary to adapt to technological advances and guarantee the long -term success of Sandbox,” he said.
In addition to AI advances, Sandbox will also benefit from the integration of shared resources and services of the animos brands, Borget told Cointelegraph.
The reports pointed to 50% of dismissals
Borget’s statement continued in previous reports that alleged that the sandbox was saying goodbye to at least 50% of their staff, and the founders were pushed aside.
According For an article by The Big Whale, the affected teams particularly include those in Argentina, Uruguay, South Korea, Thailand and Türkiye.
In addition, the potentially plans to announce a memecoin launchpad at the Coinbase Red Layer-2 base, modeled after the Solana Bomb Market, which allows users to create and distribute tokens.
Although Borget refused to “speculate on the rumors of the market” with respect to future Sandbox and Animoca initiatives, the executive emphasized that companies are still committed to empowering creators and the growth of their economy token as their main mission.
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“Sandbox virtual assets, including tokens $ sand, land, NFT collections and several assets within their ecosystem, remain unchanged,” he added.
The sand has dropped 70% since 2024
The restructuring of the sand box occurs in the middle of the token of the platform, the sand, which loses around 70% of its value since the late 2024.
According For Coingcko data, SAND quoted at $ 0.28 in the publication, almost 97% of high levels of $ 8.40 registered in November 2021.
The sand token was launched through an initial exchange offer of Binance LaunchPad in August 2020. The cryptographic asset saw a massive demonstration ahead of the sandbox that launched a metaverso of game to cattle in November 2021, with its market reaching $ 6.8 billion in capitalization in its peak.
At the time of publication, Sand market capitalization is at $ 687 million.
Additional Brayden Lindrea reports.
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