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Sandbox Vr

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Last Updated: 02 July 2021

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Sandbox VR has raised an additional $11 million in funding from notable Silicon Valley and Hollywood icons, such as Andreessen Horowitz, Katy Perry, and Justin Timberlake. New investment brings their reported total to $83 million in 2019, including a $68 million round from earlier this year. Investment is taking place amid a slowdown in VR funding, and it suggests that Sandbox has something special in its location - base VR technology. Sandbox VR aims to create something akin to Star Treks Holodeck, room that can become any virtual environment and feel like it real, according to founder Steve Zhao. We were incredibly honored to be able to work with some of the most talented and influential artists, athletes, and actors in the world, said Zhao in a statement. Their support is a vote of confidence that our platform will one day become the new medium for the future of sports, music, and storytelling. Sandbox VR creates a social multiplayer VR experience through a combination of full - body motion capture and VR technologies. Siqi Chen, president and chief product officer, said in an interview with GamesBeat that Sandbox VR is an experience much like going with your friends to a movie or escape room. I am going to Hong Kong on a fundraising trip, and I try what Steve and his team of six people build, Chen say. It blows my mind. I am a Star Trek geek. And what I experienced there was 0. 1 version of Holodeck. Thats what I want to work on. Lead by David Sacks of Craft Ventures and Andreessen Horowitz Cultural Leadership Fund, additional investors include Dreamers Fund, Honda Keisuke, Justin Timberlake, Katy Perry, Kevin Durant, Rich Kleiman of Thirty Five Ventures, Michael Ovitz, Orlando Bloom, and Will Smith. They didnt just take a normal VR setup and put it in arcade, Chen say. They combine a VR headset with a backpack PC and motion capture. And you basically wearing motion - capture trackers at four points on your body, plus your head, and you have a full virtual body. It tracks walls. And on top of that, they build 30 - minute long, triple - experience with six people. So you go to this place with your friends to this experience and you and your friends are in game. In experience, you can run, walk, jump, and mix with crowd. You can play in social experience that costs about $35 to $40 per person. That's lot cheaper than investing $1 000 or more in a VR headset and PC, Chen say. Star Trek: Discovery Away Mission experience, created with CBS Interactive, is coming soon. The company has been attracting interest from influencers since its inception. By becoming the new pillar of the entertainment industry, Sandbox VR was ripe for additional attention and interest from tastemakers from the sports and entertainment industries. We believe that the VR is finally ready to take off as a mass - market phenomenon in malls, where it can be optimized for social experience, says Sacks, in a statement.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

Getting in on the game

Last October, we wrote about a startup called Sandbox VR, which had raised funding round from investors including Katy Perry, Justin Timberlake and Will Smith. Its focus was on location - based virtual reality - VR installations that people could visit and use, as an alternative to having their own VR headset at home. There are a number of these startups running VR gaming centres in shopping centres in the US, but guess how the Covid - 19 pandemic has impacted their businesses. Yup: horribly. We are going from a relatively healthy business to zero revenue, Sandbox VR boss Steve Zhao told Protocol, for feature about sector problems. Literally, 100% of revenue is go. As the article explain, Sandbox VR has laid off 80% of its staff, and is now trying to figure out not only how to reopen existing locations but to survive. The wider story here is that VR centres were supposed to be one of the things that would reignite growth in virtual reality: way for people to try out tech without buying a headset. Revenues disappeared during Covid - 19, but there are also longer - term fears over people's willingness to visit these centres even when the pandemic eases. When you go somewhere where you have something that you put on your face that someone else has put on their face, that challenge, as one analyst quote in piece put it.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

Finding funding in the Valley

So, with their team of six having successfully built a pop - up venue and amassed a small cult following for its games in Hong Kong, they decided in 2018 to take their business stateside to the mecca of VR, Silicon Valley. We think okay, this is the VR center globally, We can either fail really hard here or not, say Zhao. But, rather than fail, they launched SANDBOX VR center in SAN FRANCISCO and quickly signed up investors to get on board. That was the second paradox: people were curious about the US being from Hong Kong, so they were interested in investing, said Zhao. Before long, company attracted investment from US venture capital firms Floodgate Fund and Andreessen Horowitz, and Stanford University with whom Zhao signed a deal at 1 am at a local in - NOut Burger restaurant in SAN FRANCISCO. That funding round, which closes in January 2019, takes SANDBOX VR's total funds raised to date to $71 million. With it, company has expanded to new markets, including Vancouver, Canada; Jakarta, Indonesia; Macau, greater China; and Singapore. Zhao say those venues enjoy around 90% occupancy during peak hours, which are on weekends and in evenings from 6 pm.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

Virtually limitless potential

Sandbox VR now plans to open new locations in a range of US cities, including Austin, Chicago and New York, as part of the company's plans to target leading global markets. It's fundamentally human experience, so the scope is global. But we re aiming for countries with high GDP initially, say Zhao, pinpointing other parts of the US, UK, Japan and China. A 30 - minute session in the US currently costs $48. At the same time, Zhao's team of developers, which had grown to 75, started looking for other VR avenues to pursue beyond traditional zombie, pirate and futuristic franchises. Zombies are easy, says Zhao. Comedy and esports are really exciting. It's part of Zhao's grand ambition to create a new movie industry of VR content. Because of that, entrepreneurs will be looking to raise more funds next year. Perhaps this time, he 'll need to find a bigger waiting room.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

Sources

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

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