The Sandbox, a virtual world where players can build, own, and monetize their gaming experiences, has successfully raised $20 million through convertible debt financing. This recent funding round has brought the company's valuation to a staggering $1 billion. The financing round was led by Kingsway Capital and Animoca Brands, with participation from LG Tech Ventures and True Global Ventures.

The terms of the financing allow note holders to convert their debt into equity of Bacasable Global Limited, under the same terms as the existing preferred shares. This significant financial boost will likely enable The Sandbox to further expand its operations and continue to innovate within the gaming industry.

The Sandbox's successful funding round is a testament to the company's growth and potential in the gaming industry. With a valuation of $1 billion, The Sandbox is now well-positioned to continue its mission of providing a unique and immersive gaming experience for its users.

The funding will likely be used to further develop and expand The Sandbox's operations, although the specifics of how the funds will be used have not been disclosed. This significant financial boost will likely enable The Sandbox to continue to innovate and push the boundaries of what is possible in the gaming industry.

The Sandbox's successful funding round is a significant milestone for the company, and it will be interesting to see how the company uses this funding to further develop and expand its operations. With a valuation of $1 billion, The Sandbox is now a major player in the gaming industry, and it will be exciting to see what the future holds for this innovative company.