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% acquire may 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 among the greatest gamers within the house, introduced a slew of partnerships at NFT NYC geared 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 mentioned it has partnered with TIMEPieces, an NFT initiative from TIME Journal.
Beneath the partnership, the 2 will construct a brand new location in TIME’s land in The Sandbox primarily based 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 consumer 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 can 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 an almost 400% soar in every day volumes after the venture 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.
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