The Sandbox is a subsidiary of the Hong Kong-based Web3 company Animoca Brands, focusing on the metaverse, and is currently undergoing operational restructuring. It is reported that the two co-founders have taken on new strategic positions.
According to Borget's statement to Cointelegraph on Thursday, co-founders Arthur Madrid and Sebastien Borget have completed their position adjustments as part of The Sandbox's ongoing business optimization.
Madrid has transitioned from CEO to Chairman, while Borget will serve as Global Ambassador, representing The Sandbox at global industry events.
Borget stated, "Both remain deeply involved in The Sandbox and its ecosystem, with key initiatives to be announced later this year through appropriate channels."
Borget confirmed to Cointelegraph that The Sandbox is laying off employees, but he did not disclose specific numbers.
The executive stated, "As The Sandbox continues to mature, we are optimizing operations for maximum efficiency." He added that a key aspect of this strategy is leveraging the latest advancements in artificial intelligence.
Borget pointed out, "The advancements in AI within the gaming sector have been well documented, allowing us to accelerate the deployment of content, features, and real-time operations while maintaining a leaner and more agile team." He added:
According to Borget's statement to Cointelegraph, in addition to AI advancements, The Sandbox will also benefit from the resource integration and shared services of Animoca Brands.
Reports indicate that The Sandbox is laying off at least 50% of its workforce, and that the founders have been marginalized, which Borget's statement is responding to.
Additionally, the platform may be planning to launch a meme coin launch platform on Coinbase's Layer-2 network Base soon, inspired by the Pump.fun market based on Solana (SOL), allowing for the creation and distribution of tokens.
Although Borget declined to comment on "market rumors" regarding The Sandbox and Animoca's future initiatives, he emphasized that both companies remain committed to empowering creators and advancing their token economy, which is also their core mission.
He added, "The virtual assets of The Sandbox, including the SAND token, LAND, NFT series, and various assets within the ecosystem, remain unchanged."
Brayden Lindrea contributed to this report.
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Original: “The Sandbox under Animoca undergoes major reform, co-founders confirm new strategic roles”
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