The Big Whale: The founder of The Sandbox stepped down and the company lays off more than 50% of its employees

According to The Big Whale , The Sandbox founders Arthur Madrid and Sébastien Borget have withdrawn from their day-to-day operations, with Animoca Brands CEO Robby Yung taking over as CEO. In the future, Sébastien Borget will serve as global ambassador and Arthur Madrid will become non-executive chairman. At the same time, the company laid off more than 50%, involving teams in Argentina, Uruguay, South Korea, Thailand and Turkey, and plans to close its office in Lyon, France. This restructuring is seen as a strategic adjustment driven by technological progress. Additionally, The Sandbox is gradually downplaying its metaverse business and moving toward a wider range of Web3 applications, including the Base-based Meme token launch platform.