The Sandbox Founders Step Down Amid 50% Staff Cuts
Reports say The Sandbox founders have stepped down amid staff cuts and office closures. The company is reportedly shifting focus toward Web3 apps, with official confirmation pending.
The Big Whale reported a sweeping shakeup at The Sandbox, multiple sources around the project describe a company in transition. Co-founders Arthur Madrid and Sébastien Borget have allegedly moved out of operational roles, investor executive Robby Yung is said to be stepping in as CEO, and a major workforce reduction is underway alongside office closures and a shift away from a pure metaverse focus.
The Sandbox Founders Step Down Amid 50% Staff Cuts
Leadership Transition at The Sandbox Under Animoca
According to The Big Whale’s investigation, Animoca Brands has removed Madrid and Borget from day-to-day decision making at The Sandbox, with Animoca executive Robby Yung appointed CEO of the unit. The outlet reports Borget will serve as an ambassador while Madrid becomes non-executive chairman. Speaking to the publication, Borget said, “I remain the person who best represents The Sandbox globally,” framing his future role as outward-facing while operational control shifts.
The Sandbox Founders Step Down Amid 50% Staff Cuts
Staff Cuts and Office Closures Across Regions
The Big Whale reports that more than half of the roughly 250 employees counted at the start of 2025 are affected. Teams in Argentina, Uruguay, South Korea, Thailand and Turkey are among those impacted. In France, the Lyon office is reportedly set to close, with additional reductions expected in Paris. The restructuring is framed internally as a strategic reset made possible by technology gains that allow the team to operate with a smaller headcount
Pivot to Web3 Apps and Launchpad Plans
The same investigation says The Sandbox is de-emphasizing its metaverse focus while exploring broader Web3 applications. Plans reportedly include a memecoin launchpad built on Base. One investor told The Big Whale that “the context has evolved and the project has to evolve,” signaling a market-driven shift following a prolonged downturn in metaverse token prices.
Market Backdrop and User Concerns
The Big Whale places these moves in the context of steep declines for metaverse tokens since late 2021 and cites a source close to the company who alleges that a significant share of remaining users are automated accounts based in South America. Independent verification of those user claims was not available at press time. The report also notes SAND’s drawdown since 2021, highlighting the pressure on metaverse-centric projects to find more resilient business lines.
