Hot on the heels of The Sandbox’s $93 million Series B funding round on Monday, the price of SAND, the native token of the eponymous metaverse game, has soared by 24% over the last 24 hours, hitting a new all-time of $3.33 earlier on Tuesday.
Data from CoinGecko also shows that despite a correction to $2.75 by press time, SAND is up by as much as 239% over the last week.
The token’s trading volume over the past day—$8.2 billion—is quite impressive as well.
Ethereum NFT Metaverse Game The Sandbox Raises $93 Million
Hype around the impending metaverse may be at an all-time high following Facebook’s growing push into the space—including rebranding its parent company as “Meta”—and rising value for metaverse-related crypto tokens. Now, one of the most anticipated metaverse games has pulled in a sizable chunk of funding ahead of its launch. Today, The Sandbox—a subsidiary of Animoca Brands—announced that it has raised $93 million in a Series B funding in a round led by SoftBank’s Vision Fund 2. The Japanese fir...
Developed by game studio Pixowl, a subsidiary of Animoca Brands, The Sandbox is an Ethereum-based metaverse and gaming ecosystem where users can create, share, and monetize in-world assets, such as non-fungible tokens (NFTs).
The Sandbox is expected to be released in alpha mode before the end of the year, however, the game has already seen as many as 500,000 users connect their crypto wallets to the platform, generating $144 million worth of NFT sales.
The Sandbox has also secured several high-profile partnerships with the likes of hip hop star Snoop Dogg, Bored Ape Yacht Club, and crypto exchange Binance among others.
Snoop Dogg Is Selling 1,000 NFT Passes for Private Ethereum Metaverse Party
Earlier this week, rapper and entertainer Snoop Dogg dropped a bombshell, revealing that he’s the man behind Cozomo de’ Medici, a crypto Twitter personality and serious NFT collector with an Ethereum wallet filled with collectibles valued above $17 million. Now he’s diving headfirst into the crypto metaverse. Today, Snoop Dogg announced that he has partnered with The Sandbox, an upcoming Ethereum-based metaverse game that lets users customize and share experiences in a 3D world. Snoop will have...
Metaverse tokens follow The Sandbox
SAND is not the only Metaverse-related cryptocurrency to enjoy an increase in price.
Partly spurred by growing interest around Facebook’s rebrand to Meta, some of them have been on the rise in recent days too.
Metaverse Token MANA Up 100% After Facebook Rebrands to Meta
The prices of crypto metaverse tokens are soaring as much as 100% in the wake of Thursday’s news that Facebook was rebranding to ‘Meta’ in a bid to “bring the metaverse to life”. MANA, the token powering the browser-based video game Decentraland–a kind of hybrid of Minecraft and Second Life–is currently trading for $3.39, up 100% from yesterday. Facebook Goes All In on Metaverse With New Company Name Meta, NFT Push SAND, the native token for The Sandbox, a community-driven metaverse where user...
Illuvium (ILV), the native token for an open-world RPG adventure game built on the Ethereum blockchain, has climbed to $1,182, up 16.4% overnight. The token hit an all-time high of $1,201.70 today as well.
MANA, the token powering the popular browser-based video game Decentraland, is down 8.7% by press time, however, is still up by 280% over the week, per CoinGecko.
Meanwhile, the Metaverse Index, an index fund tracking the price of top metaverse tokens, grew by 11.7% over the day and 70% in the past week.
