The Sandbox Reboots: From Metaverse Dreams to Web3 Reality

The Sandbox, a blockchain-based metaverse platform, is undergoing a significant restructuring that includes a 50% reduction in its workforce and the departure of its co-founders from operational roles. According to multiple sources, including The Big Whale and PANews, the company’s co-founders—Arthur Madrid and Sébastien Borget—have stepped down from day-to-day decision-making responsibilities. Instead, Madrid is transitioning to a non-executive chairman role, while Borget will serve as a global ambassador for the project. The company has also appointed Robby Yung, an Animoca Brands executive, as its new CEO. This leadership shift is part of a broader realignment of the company’s strategy, led by the parent firm Animoca Brands [2].

The restructuring, which began in 2025, has affected over half of the company’s approximately 250 employees, with significant layoffs reported in teams across Argentina, Uruguay, South Korea, Thailand, and Turkey. In France, the Lyon office is set to close, and further reductions are expected in Paris. These cuts are being framed internally as a strategic move to streamline operations, made possible by advancements in technology that allow for a leaner workforce [2].

The company is also pivoting away from its primary focus on the metaverse. The Big Whale reported that The Sandbox is now prioritizing broader Web3 applications, including the development of a memecoin launchpad built on Base. This shift reflects a broader industry trend, as metaverse token prices have declined significantly since late 2021. Investors have noted the need for the project to adapt to a changing market landscape, with one investor stating that “the context has evolved and the project has to evolve” [2].

The restructuring comes amid a challenging environment for metaverse projects. SAND, the native token of The Sandbox, has experienced a steep decline in value since its 2021 peak of $6.73. As of August 2025, the token was trading at $0.30, with a market capitalization of $765.70 million [1]. The Big Whale also reported that a significant portion of The Sandbox’s remaining users may be automated accounts based in South America, though these claims could not be independently verified at the time of reporting [2].

Despite the cuts and strategic shift, the company remains active in user-generated content initiatives, such as the Alpha Seasons, which have attracted a large number of players. For example, Alpha Season 4 reportedly attracted 580,000 unique players in 2025 [1]. While the metaverse segment faces ongoing challenges, the pivot to Web3 applications and the launch of a memecoin platform may offer new opportunities for growth and engagement.

The changes signal a broader industry adjustment as companies in the metaverse and blockchain gaming space seek to adapt to shifting user interests and economic realities. The Sandbox’s strategic reset, including its focus on decentralized applications and potential new market entry points, will be closely watched by investors and industry analysts [2].

Source:

[1] The Sandbox Price, SAND Price, Live Charts, and Marketcap (https://www.coinbase.com/price/the-sandbox)

[2] The Sandbox Founders Step Down Amid 50% Staff Cuts (https://gam3s.gg/news/the-sandbox-founders-step-down/)

[3] Sandbox founder resigns and lays off 50% of staff, de- (https://www.panewslab.com/en/articles/bf07cd40-08c3-4422-b453-b08ea7cf1ae1)