The Sandbox news

The Sandbox, the Ethereum‑based metaverse land game, is undergoing a major restructuring after Animoca Brands slashed more than half of its 250 staff and transferred its co‑founders Sébastien Borget and Arthur Madrid out of executive positions, with co‑founder roles now “ambassador” and “chairman.” Animoca’s CEO Robby Yung has taken over as the game’s new CEO a fortnight ago, and Animoca cited advances in generative AI as a driver for the layoffs, arguing that the technology can accelerate content and live‑ops while keeping teams lean. The overhaul will close several overseas offices, including those in Argentina, Uruguay, South Korea, Thailand and Turkey, leaving a formal presence in nine global locations. Despite heavy investment, the Sandbox’s player base has dwindled to only a few hundred daily active users, many of whom are bots, and the company is pivoting toward building crypto apps and a memecoin launchpad on Base. The SAND token has remained flat in the short term, down about 4% over the past month, while Animoca maintains that the platform’s core mission remains unchanged.

Animoca Brands' Sandbox is restructuring, moving co‑founder Arthur Madrid from CEO to chairman and Sebastien Borget to global ambassador. The transition comes as the metaverse platform trims staff, citing AI‑driven efficiency and integration of shared services from Animoca. While specific layoff figures were not disclosed, reports had linked the cuts to as much as 50 % of personnel, especially in South‑East Asian and Latin‑American offices. The company also hinted at a forthcoming memecoin launchpad on Coinbase’s Base layer‑2, mirroring the Solana‑based Pump.fun model, though no launch date has been set. Meanwhile, Sandbox’s native token SAND has fallen roughly 70 % from late 2024, trading near $0.28 with a market cap around $687 million, yet the underlying virtual assets remain unchanged. The executives emphasize that the restructuring aims to preserve creator empowerment and grow the token economy in the long term.

Thailand will launch the TouristDigiPay sandbox in Q4 2025, allowing foreign visitors to convert crypto to baht for spending. The 18‑month pilot, built with the SEC, Finance Ministry, AML Office and Tourism Ministry, bans direct crypto payments, pays merchants baht, and imposes KYC/AML on operators and e‑money providers. Safeguards such as monthly spending limits and no cash withdrawals will protect tourists and merchants. The project seeks to reverse 2025’s tourism decline—down 24 % from East Asia, 34 % from China—by making digital currencies more usable abroad. Deputy Prime Minister Pichai Chunhavajira will release full details on Monday, following earlier Phuket trials and ongoing regional experiments.

Thailand’s Securities and Exchange Commission announced the TouristDigiPay sandbox, which will let foreign visitors convert cryptocurrencies into Thai baht and spend the local currency in the country. The 18‑month program, slated to start in Q4 2025, is being co‑developed with the Ministry of Finance, the Anti‑Money Laundering Office and the Ministry of Tourism and Sports. Merchants will receive baht payments, while KYC and customer‑due‑diligence rules will apply and direct crypto payments for goods are prohibited; monthly spending limits and a ban on direct cash withdrawals will also be enforced. The initiative aims to revive tourism after a 5% decline in 2025, largely driven by falling Chinese visitor numbers. Thailand’s move follows earlier Phuket experiments and mirrors similar crypto‑tourism trials in Bhutan, the UAE and other nations, and full details are expected to be released next Monday.

Thailand’s Securities and Exchange Commission announced a regulatory sandbox, “TouristDigiPay,” that will run for 18 months from Q4 2025 and let foreign tourists convert cryptocurrencies into Thai baht for use in the country. The initiative, co‑developed with the Ministry of Finance, the Anti‑Money Laundering Office and the Ministry of Tourism and Sports, prohibits direct crypto spending; merchants receive baht while KYC and AML requirements apply to all participants. Safeguards such as monthly spending limits and a ban on cash withdrawals will protect tourists and merchants. The program aims to revive Thailand’s tourism sector after a sharp decline in visitors, especially from China, and is part of a broader regulatory experiment that includes a trial in Phuket. Thailand’s SEC says full details will be released next week.

After President Trump announced an Israel‑Iran ceasefire, the crypto market nudged higher in the fourth week of June, though some tokens still struggled to sustain gains. On‑chain data indicates that whales are quietly loading three altcoins—Uniswap’s UNI, Worldcoin’s WLD, and Sandbox’s SAND—prompting speculation of rising bullish sentiment. Large holder netflow for UNI jumped 190 % in the past seven days, a surge that could carry the token toward the $7 zone if retail buying follows. Whale accumulation of 1.72 million WLD (worth >$3 million) may push the price above the $0.97 resistance, while a reversal could drop it to $0.57. Likewise, SAND’s 7.45 million‑token inflow suggests potential upside toward $0.30, but could retreat to $0.21 if demand wanes. Market observers warn that continued whale activity could lift all three assets, though profit‑taking could quickly reverse the trend.

Nigerian traders are moving beyond Bitcoin and Ethereum toward altcoins, says Luno Nigeria’s country manager, while stablecoins remain the core. The Sandbox (SAND) has gained traction amid metaverse and NFT interest but trades at $0.25 and a low RSI indicates weak demand. Solana‑based AURA surged 19,000% last week on speculative DeFi hype, hitting $0.17 and boosting volume to $65 million, signaling solid buying pressure. Bittensor’s AI token TAO, a recent Luno hit, is trading near $367, down 10% today, with a negative Balance‑of‑Power that shows sellers in control but could rebound. Stablecoins USDT and USDC still dominate Nigerian market inflows over 40%, used as value stores and cross‑border payments, and Luno expects growth with ISA 2025 and a potential naira‑pegged stablecoin.

El Salvador’s National Commission on Digital Assets (CNAD) has signaled it may allow U.S. firms to experiment with tokenized real estate through a regulatory sandbox, a proposal discussed in an April meeting between CNAD and the SEC’s Crypto Task Force. The pilot would test the sale of tokenized shares of land and SEC‑permitted crowdfunding for small companies, offering a framework for cross‑border experimentation. CNAD has assembled regulators and industry experts and pledged strong consumer protection while fostering innovation. If approved, the program could strengthen U.S.–El Salvador ties and unlock investment in a potentially trillion‑dollar asset class. The initiative aligns with SEC Commissioner Hester Peirce’s push for limited‑scale sandbox trials and could help harmonize global regulations.

The SEC has signaled willingness to create a regulatory sandbox for digital asset firms, enabling exchanges such as Coinbase to test trading tokenized securities while awaiting formal rulemaking; at a recent digital‑assets roundtable Republican commissioners suggested exemptions that would allow unregistered exchanges to offer tokenized stocks and bonds on a time‑limited basis. Acting Chair Mark Uyeda and Commissioner Hester Peirce framed the sandbox as a way for firms to “see what works” and guide future regulations, while President Trump signed a crypto bill that repealed an IRS rule requiring DeFi platforms to collect broker‑style information. Critics, including Democrat Commissioner Caroline Crenshaw, warn that allowing exchanges to combine exchange, custody, and clearing services could threaten market order and banking stability; other countries have experimented with similar sandboxes, but the U.S. proposal remains under debate.

SEC acting chairman Mark Uyeda announced on April 11 that the agency could create a conditional regulatory sandbox to encourage innovation in blockchain‑based securities trading, offering a short‑term, exemptive scheme that would allow registrants and non‑registrants to test new trading solutions while meeting specified conditions; he urged market participants to advise on its structure. Uyeda noted that early crypto platforms operated largely outside federal jurisdiction, relying on state money‑transmitter licenses and often requiring dozens of permits to run nationwide, highlighting a fragmented landscape. He argued that a federal framework could streamline compliance for tokenized securities and other digital assets, although existing securities laws presently constrain the integration of blockchain technology into traditional markets. Uyeda also praised the real‑time collateral, capital‑efficiency, and continuous‑trading advantages offered by distributed ledgers, despite the need to reconcile these with legacy exchange rules.