ChainCatcher news, according to market news, The Sandbox founders Arthur Madrid and Sébastien Borget have exited daily operations, and Animoca Brands CEO Robby Yung has taken over as CEO.
Borget will serve as the global ambassador, while Madrid will become the non-executive chairman. Meanwhile, the company has laid off more than 50% of its staff, affecting teams in Argentina, Uruguay, South Korea, Thailand, and Turkey, and plans to close its office in Lyon, France, with further layoffs in Paris. This restructuring is seen as a strategic adjustment driven by technological advancements. Additionally, The Sandbox is gradually phasing out its metaverse business and shifting towards broader Web3 applications, including a memecoin launch platform based on Base.
