The Sandbox, a Web3 metaverse platform owned by Animoca Brands, is undergoing a restructuring. Co-founders Arthur Madrid and Sebastien Borget have transitioned into new strategic roles. Madrid will be stepping down as CEO to become chairman, while Borget has been appointed global ambassador to represent the platform at industry events worldwide.
The Sandbox’s reshaping comes alongside staff layoffs, as co-founder Borget confirmed on Thursday, though specific numbers were not disclosed. Borget explained that these adjustments are a part of The Sandbox’s optimization for efficiency and alignment with technological advancements. AI technologies will be key drivers in this process.
The restructuring also includes integration of resources and shared services from Animoca Brands. While the platform remains committed to its mission of empowering creators, it faces reports alleging a 50% staff reduction as part of these changes, including potential plans for a memecoin launchpad on Coinbase’s Base network.
Though Borget declined to comment on unconfirmed market rumors regarding future initiatives, he reaffirmed that The Sandbox will continue to focus on its core mission: empowering creators and fostering growth within the token economy.