The metaverse platform The Sandbox has announced a major restructuring, which includes cutting more than half of its employees and changing the company’s leadership.
This is reported by Finway
Radical Changes in Leadership and Structure
As part of the leadership update, co-founders of The Sandbox, Sébastien Borget and Arthur Madrid, will no longer hold executive positions. The project will now be led by Robbie Young, the CEO of Animoca Brands. As a result of these changes, the company plans to lay off over 50% of its workforce of 250 employees and close offices in Argentina, Uruguay, South Korea, Thailand, Turkey, and soon in Lyon, France.
Reasons for Restructuring and Future Plans
According to The Big Whale co-founder Grégory Raymond, such decisive actions are due to low user engagement. The platform, which has seen approximately $300 million invested over the past eight years, currently has only a few hundred active users daily, most of whom are bots.
“The platform, which has seen around $300 million invested over the last eight years, currently has only a few hundred active users daily. Most of them are bots,” he added.
Additionally, the company is preparing to launch a new platform for issuing meme coins on the Base blockchain, which could become a new development direction for The Sandbox.
In light of the restructuring news, the SAND token has experienced a significant decline, with its value dropping by about 97% from its all-time high. As of August 2025, SAND is trading around $0.28.
Back in June 2024, The Sandbox raised $20 million in investments with the participation of Animoca Brands, but the future development of the platform remains in question due to low user activity.