The Sandbox metaverse’s native token, SAND, defied broader market weak point over the previous two days as an occasion in New York kicked off.
SAND rose 8% up to now 24 hours, and is buying and selling round $0.97. One other 4% acquire may see the token commerce above $1 for the primary time in two weeks.
The token recovered sharply up to now two days after The Sandbox kicked off an occasion in New York Metropolis, as a part of the NFT NYC convention.
The metaverse, which is without doubt one of the greatest gamers within the area, introduced a slew of partnerships at NFT NYC geared toward boosting person engagement.
The Sandbox companions with Time, OVER
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In its most up-to-date partnership with a significant established model, The Sandbox earlier this week stated it has partnered with TIMEPieces, an NFT initiative from TIME Journal.
Underneath the partnership, the 2 will construct a brand new location in TIME’s land in The Sandbox primarily based on Instances Sq..
The metaverse additionally introduced a partnership with Ethereum-based augmented actuality metaverse Over, below which the 2 will launch a NYC-wide treasure hunt.
The Sandbox has additionally arrange an actual world sales space in New York Metropolis to extend person engagement. The metaverse has tieups with a number of main media franchises, together with Snoop Dogg, The Strolling Lifeless, and extra lately, Lionsgate Studios.
The metaverse additionally introduced the upcoming launch of The Sandbox Alpha, a play-to-earn initiative that may launch in November.
NFT volumes boosted by NYC convention
Hype over the NFT convention supported buying and selling volumes in some NFT initiatives. Doodles noticed a virtually 400% leap in each day volumes after the undertaking introduced a sequel- Doodles 2.
The elevated curiosity helped considerably offset an ongoing decline within the crypto market, which has severely dented NFT costs this month.
However whereas established gamers reminiscent of Bored Apes and CryptoPunks have logged massive worth losses, they’re nonetheless buying and selling comparatively secure compared to the broader crypto market.
The introduced content material might embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty in your private monetary loss.
The journalist is a writer and digital nomad. Loves thinking, learning, and writing about all things Web3, particularly its impact on major creative industries.