The Sandbox native token, SAND, jumped from eight-month lows following Friday’s announcement of a collaboration between the metaverse and Lionsgate Studios.
SAND reached a high of 20% at $0.9715 before falling to $0.8647. The move helped SAND overcome a seven-day losing run in the face of gloom in the bear market.
Lionsgate Studios is the largest privately owned studio in America. It owns Rambo and Hellboy as well as The Expendables. These will all be in The Sandbox.
All hell breaks loose. Lionsgate is now in @thesandboxgame pic.twitter.com/c1QcA2x3Y6
— Lionsgate (@Lionsgate) June 15, 2022
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The Sandbox (SAND), soars to 3.78%
SAND trades at 0.873 right now, up 3.78% from the daily high of $0.9753. Sandbox’s 24-hour trading volume was $269.75 Million.
The circulating SAND supply was 1.25 billion as of Friday. Its maximum limit is 3.
Due to their increasing production in horror and action, the metaverse devised an extensive transition plan. Lionsgate is expected to contribute its stories and characters for web3-compatible platforms.
Lionsgate Studios, one of America's largest entertainment companies is located in New York. Image: Deadline.
Sandbox, a game-to-earn on blockchain that allows users to build a digital world using Ethereum Blockchain tokens.
Sandbox allows users to make their avatars and access all the games and destinations. The blockchain version is called the DeFi Minecraft.
SAND is an ERC20 utility token that enables the purchase and sale of LANDS and ASSETS within The Sandbox’s metaverse. It is also The Sandbox DAO’s governance token.
The Sandbox Guns for Over $4 Billillion Value
According to reports, the Sandbox is owned by Animoca Brands, a blockchain gaming giant.
According to The Sandbox, Lionsgate will be the first major Hollywood studio in the metaverse.
This will not be The Sandbox’s first significant partnership, as it has already hosted material from Snoop Dogg, The Smurfs, and Adidas and sold LAND to financial institutions such as HSBC.
SAND market capital at $1.06 Billion according to the daily chart. Source: TradingView.com| Source: TradingView.com
Crypto & Metaverse Going Stronger Despite Market Turmoil
Lionsgate’s Executive Vice President and Global Head of Live, Interactive, and Location-Based Entertainment, Jenefer Brown, commented on the innovative partnership:
“We’re thrilled by the new possibilities our strategic relationship with The Sandbox will offer our community.”
The majority of crypto currencies are not being left behind, as the market continues to experience an abrupt downturn.
In reality, cryptocurrency with metaverse support such as The Sandbox or Decentraland have been stronger as Metaverse continues to grow in popularity and NFTs continue their rise.
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Featured image taken from Actu Crypto.info. Chart from TradingView.com