Foley & Lardner LLP represented LG Technology Ventures on its participation in The Sandbox's $93 million Series B fundraising round. The Sandbox is a metaverse that offers players and creators a decentralized platform to create 3D worlds and game experiences, as well as to store, trade and monetize their creations. It is a subsidiary of Animoca Brands, which develops and publishes products in digital entertainment, blockchain and gamification.
The Sandbox team will use the investment to scale its growth as an entertainment destination for brands, intellectual properties, and celebrities to engage with fans through virtual experiences. Its metaverse is made up of non-fungible tokens called Land, which players can buy to host games, build multiplayer experiences, create housing or offer social experiences to the community.
The Foley team was led by Partner Louis Lehot with assistance from Associate Ashley Youn-Jae Lee.