Shiba Inu (SHIB) and Dogecoin (DOGE) Now Owned by Major VR Gaming Platform

Metaverse firm The Sandbox, which combines blockchain technology, virtual reality (VR), and gaming, has announced that it now holds Shiba Inu (SHIB), Dogecoin (DOGE) as well as several other meme coins.

“We're thrilled to integrate their unique cultures into our platform,” the metaverse platform developer said.

The Sandbox was originally released as a world-building mobile video game back in 2012, making it possible for users to create their own universe. In 2020, the company secured $2 million worth of cash and crypto in order to create an Ethereum-powered gaming world that would allow users to monetize their experiences with the help of non-fungible tokens.

The platform reached prominence during the 2021 NFT boom, with people rushing to buy virtual real estate in the metaverse. Famous hip-hop artist Snoop Dogg even started developing his own community within The Sandbox world called the Snoopverse. In early 2022, someone shelled out $450,000 to be neighbors with the “Drop It LIke It's Hot” hitmaker, which happened to be the peak of the metaverse craze.

Earlier this year, The Sandbox reached unicorn status after securing $20 million in fresh funding, which will allow it to continue developing its decentralized virtual world with new editing tools, new social interactions, and new gameplay possibilities.

With its recent purchase of meme coins, The Sandbox claims that it wants to stay on top of industry trends. “We believe that the culture of creativity is a cornerstone of the open metaverse and take time to engage in and help grow the Web3 ecosystem to benefit those who are a part of it,” the firm said.