According to The Big Whale, The Sandbox founders Arthur Madrid and Sébastien Borget have stepped down from day-to-day operations, and Animoca Brands executive Robby Yung has taken over as CEO. Borget will serve as global ambassador and Madrid will become non-executive chairperson. Meanwhile, the company is cutting more than 50% of its workforce, involving teams in Argentina, Uruguay, South Korea, Thailand and Turkey, and plans to close its Lyon, France office, with further layoffs in Paris. The restructuring is seen as a strategic realignment driven by technological advancements.
In addition, The Sandbox is gradually downsizing its meta-universe business in favor of a wider range of Web3 applications, including the Base-based memecoin startup platform.
Sandbox founder steps down and cuts 50% of his workforce, shifting his meta-universe business to Web3 apps and Launchpad plans
2025-08-28 02:42:04
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