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% previously 24 hours, and is buying and selling round $0.97. One other 4% achieve might see the token commerce above $1 for the primary time in two weeks.
The token recovered sharply previously 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 largest gamers within the area, introduced a slew of partnerships at NFT NYC aimed toward boosting person engagement.
The Sandbox companions with Time, OVER
In its most up-to-date partnership with a significant established model, The Sandbox earlier this week mentioned 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 based mostly on Occasions 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 Useless, 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 tasks. Doodles noticed a virtually 400% leap in every 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 resembling Bored Apes and CryptoPunks have logged massive value losses, they’re nonetheless buying and selling comparatively steady compared to the broader crypto market.
