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The Sandbox metaverse’s native token, SAND, defied broader market weak spot 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 might 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 among the largest gamers within the area, introduced a slew of partnerships at NFT NYC aimed toward boosting consumer engagement.
The Sandbox companions with Time, OVER
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.
Below 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, underneath 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 consumer engagement. The metaverse has tieups with a number of main media franchises, together with Snoop Dogg, The Strolling Lifeless, and extra not too long ago, 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% bounce in day by day volumes after the mission 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 akin to Bored Apes and CryptoPunks have logged massive worth losses, they’re nonetheless buying and selling comparatively steady compared to the broader crypto market.
The offered content material might embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability to your private monetary loss.
