“Buy experiences, not things,” they say. OK, chief. How about a dose of some multiplayer VR?
That’s what Sandbox VR is serving up, leaving people wide-eyed. Sandbox offers an immersive, full-body experience that focuses on a social game priced at $48 for a half-hour session.
The company is a trifecta — building their own tech and content and operating retail spaces. Plus, their NPS is (pre 2015) Apple-level: over 70.
What’s next? Where other entertainment companies are struggling — Dave & Buster’s took a 21% hit earlier this year — Sandbox VR got a $68m Series A and an $11m follow-on round from a suite of A-listers, including Justin Timberlake and Katy Perry.
(If you’re wondering how they did it, they set up a pop-up.) With 3 locations in the Americas, Sandbox will be expanding to 16 by the end of 2020. Sandbox’s founder Steve Zhao has ambition to create a “new movie industry.”