Image Source: © Ideaice | Megapixl.com
- The Sandbox is the fourth-largest metaverse project by market capitalization.
- The project was founded by Pixowl in 2011.
- SAND is the utility token to facilitate transactions on The Sandbox platform.
The Sandbox (SAND) token moved up 12.26% to US$1.01 at 7:47 am ET on Thursday, while the broader crypto market grew 0.72% to US$912.32 billion.
The SAND token gained attention after the platform invited its social media followers for a group photo. It reportedly urged the participants of the NFT NYC 2022 event to gather at New York’s Times Square at 11:11 am EST for the photoshoot.
NYC NFT 2022, the 4th annual NFT Industry event held in New York, will conclude on Thursday.
More than 1000 speakers participated in the four-day event.
SAND also plans to create Times Square in its metaverse. It is already collaborating with TIMEPieces, an NFT community initiative, to build a virtual Times Square hub for art and commerce.
The Sandbox is the fourth-largest metaverse project by market capitalization, as per Coinmarketcap.com. Its trading volume was also up 74% on Thursday as its June 26 submission deadline for the Game Jam competition approaches.
Game Jam kicked off on June 13. Participants were asked to create a specific metaverse experience. It plans to distribute 15,000 SAND tokens and VoxoDeus NFTs to the winners on July 23, 2022.
Also Read: Why is Trust Wallet token (TWT) rising?
Sandbox is a popular name in the gaming community. The token rose around 21% in one week. Its virtual world allows users to create, build, buy, and sell digital assets besides playing games.
It offers play-to-earn games while aiming to mainstream blockchain technology. The project was founded by Pixowl, a mobile game development company, in 2011.
In 2018, Animoca Brands acquired Pixowl for US$4.875 million.
Arthur Madrid is the co-founder and CEO of Pixowl. The other co-founder, Sebastien Borget, serves as the company’s COO.
SAND token facilitates transactions on The Sandbox platform. It has a market capitalization of US$1.3 billion and a circulating supply of 1.26 billion. Its total supply is 3.0 billion.
The metaverse segment of the crypto market has more than 200 projects. On Thursday, more than two-thirds of the projects rallied.
Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use on