according to The Big Whale, The Sandbox founders Arthur Madrid and Sébastien Borget have stepped down from day-to-day operations, with Animoca Brands CEO Robby Yung taking over as CEO. Borget will serve as a global ambassador, while Madrid will become a non-executive chairman. At the same time, the company has cut more than 50% of its workforce, affecting teams in Argentina, Uruguay, South Korea, Thailand, and Turkey, and plans to close its office in Lyon, France, with further layoffs expected in Paris. This restructuring is seen as a strategic adjustment driven by technological progress.

Additionally, The Sandbox is gradually shifting away from its metaverse business towards a broader range of Web3 applications, including a meme coin launch platform based on Base.