The Sandbox, the web3 metaverse platform, has confirmed internal restructuring following reports of major layoffs and leadership changes.
The company clarified that its co-founders, Arthur Madrid and Sebastien Borget, remain part of the project despite no longer holding CEO and COO roles. Madrid has taken the role of Chairman, while Borget is now Global Ambassador. Leadership responsibilities have been handed to Robby Yung, a senior executive at Animoca Brands who has supported the project since Animoca’s acquisition in 2018.
Staff Layoffs and Office Consolidation
Media reports suggested that over half of the company’s staff were let go, particularly in regional teams across Argentina, Uruguay, South Korea, Thailand, and Turkey. The Sandbox acknowledged workforce reductions but did not confirm numbers.
According to the company, these changes are aimed at improving efficiency by using AI in game development and operational processes. To streamline resources, five smaller offices were also closed, although the platform maintains an official presence in nine global locations.
Clarifying Market Rumors
Alongside leadership news, speculation arose about a possible shift in direction, including the launch of a memecoin platform. The Sandbox stated that such claims were misleading, adding that its focus remains on its main ecosystem of SAND tokens, LAND assets, NFTs, and digital experiences.
Borget did not comment on market rumors, while official statements stressed that the company’s mission of supporting creators is unchanged.
Community and Market Reaction
The restructuring comes as the SAND token faces pressure in the market. Having peaked at $8.40 in 2021, it now trades at around $0.28, a decline of 97 percent. Reports also highlighted low daily active users despite The Sandbox’s investment of approximately $300 million in platform development over the past eight years.
Some community members expressed frustration, arguing that the company has focused too heavily on celebrity partnerships instead of improving creator tools and mobile accessibility.
Platform Updates Continue
Despite challenges, The Sandbox continues to roll out updates. Its recent Game Client 0.12 introduced multiplayer lobbies, matchmaking features, enhanced NPC behavior, new movement options, and a more advanced rendering system for water and 3D galleries.
Earlier this year, Alpha Season 5 offered rewards valued at more than $1 million in SAND and NFTs while showcasing over 40 experiences, including branded content such as a Jurassic World-themed island.
Commitment to Long-Term Growth
The Sandbox has emphasized that its restructuring is not a retreat but a step toward long-term sustainability. By consolidating resources and adjusting leadership roles, the company aims to stay committed to creators and its broader ecosystem. Animoca Brands and The Sandbox both reaffirmed that their core mission remains centered on empowering users to build, share, and monetize their digital worlds.