The Sandbox dismissals 250 employees and dismisses its founders

While the web3 seeks to reinvent itself after the break -up of the speculative bubble, The Sandbox is going through a major crisis. The French pioneer of the Blockchain metavers has just announced the dismissal of more than half of its workforce and the eviction of its two co -founders. This brutal restructuring occurs in a climate of growing disinterest in 3D virtual universes and is accompanied by a spectacular fall in the valuation of the project, now forced to rethink its future.

Unprecedented restructuring

While web3 foundations vacillate under the threat of the quantum computer, the Sandbox platform has entered an open crisis phase. Indeed, the company has implemented a massive restructuring which results in two major decisions: the dismissal of more than half of the world enrollment and the withdrawal of the two French founders from operational functions.

The company has decided to separate from more than 250 people concerned worldwide. At the same time, Sébastien Borget and Arthur Madrid, emblematic figures of the project, were dismissed from management. It is now Robby Yung, the CEO of Animoca Brands, the main shareholder, who takes direct control of the operations.

Here is The main factual elements of this restructuring:

• More than 250 layoffs over all global workforce, a reduction of more than 50 %;

• The closure of several offices: in Argentina, South Korea, Turkey, Thailand, Uruguay … as well as the French antenna of Lyon;

• The eviction of the founders: Borget and Madrid are officially noted from their operational functions by Animoca Brands;

• The takeover of the project by Robby Yung, owner of Animoca Brands, now in charge.

This restructuring comes in a context of major economic dropout for the platform. The Sandbox, which had raised hundreds of millions of dollars and culminated in a valuation of $ 4 billion in 2022, would only weigh a billion dollars according to figures for 2024.

As for token Sand, its capitalization increased from $ 8 billion to 700 million, a fall of 95 %. The actual activity on the platform is also at half mast, with only a few hundred daily users, some suspected of being bots.

A strategic turn: CAP on the same and the community web3

Beyond the organizational aspect, it is a radical strategic pivot that is looming. The Sandbox would consider gradually abandoning its immersive metal posture to reposition itself as a web3 tool platform, with the launch of a same launchpad.

This orientation would mark a decisive turning point, moving away from the dream of a virtual world for the benefit of social and viral dynamics. The project would now bet on the concrete uses of the web3. It would thus aim to provide creators with the means to monetize their communities, in line with the trends carried by platforms like Pump.fun.

The possible appointment of a new CEO, Jason Owen, would embody this strategic moult. His profile, closer to the music industry than to gaming or blockchain, symbolizes a desire to reach a new audience, far from the purists of the metarers.

If this orientation towards the same can seem opportunistic, it is part of a context where these tokens have experienced a revival of popularity dazzling since 2024, carried by their virality and their weak barrier at the entrance. However, neither the official site nor the communication channels of The Sandbox have at this stage confirmed this mutation, which feeds a certain uncertainty within the community.

The challenge is therefore clear: winning the attention of users by focusing on community culture of the web3, at the risk of losing its historical DNA. Some members of the community could feel this pivot as a betrayal, while others will see a necessary adaptation. In all cases, this transformation testifies to a paradigm shift: the metavers no longer dreams, and The Sandbox must reinvent or disappear.