The metaverse platform The Sandbox has announced a major company restructuring, which involves cutting more than half of its workforce and changing top management.
This is reported by Business • Media
Changes in Management and Major Staff Reductions
According to the information released, The Sandbox co-founders Sébastien Borget and Arthur Madrid no longer hold executive positions in the company. The management will now be led by Robbie Young, CEO of Animoca Brands, who will officially head the project. It is expected that the cuts will affect over 50% of the total 250 employees. The company also plans to close its offices in Argentina, Uruguay, South Korea, Thailand, Turkey, and soon in Lyon.
Reasons for Restructuring and Future Plans
The reason for such radical changes is attributed to low user activity on the platform. According to The Big Whale co-founder Gregory Raymond, despite investments of around $300 million over the past eight years, the daily number of active users on The Sandbox is only a few hundred, most of whom are bots.
“The platform, which has received around $300 million in investments over the last eight years, currently has only a few hundred active users daily. Most of them are bots,” noted Gregory Raymond.
In addition to staffing changes, the company is working on launching a new platform for meme coins on the Base blockchain, which could open additional opportunities for product development.
It is worth noting that the internal token SAND has experienced a significant decline — its price has dropped approximately 97% from its all-time high. As of August 2025, the token is trading around $0.28.
Recall that back in June 2024, The Sandbox raised $20 million in a funding round involving Animoca Brands.