The Sandbox Price Is up 23.67% – Time to Buy SAND?
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- Star Atlas and The Sandbox collaborate for the first time: Time to buy SAND?
- Slipknot partners with The Sandbox to create KNOTVERSE
- 21Shares Kickstarts Metaverse ETP with SAND Token
Investors are presently on edge due to the imploding of high-profile cryptocurrencies in recent days. However, The Sandbox’s token, SAND, has seen an uptrend amid the panic. This increase presents an opportunity for investors to buy SAND and rise with the market.
The Sandbox is a game-like blockchain-based virtual world where users may create, build, purchase, and sell digital goods. The platform offers a decentralised platform for a healthy gaming community by combining the powers of decentralised autonomous organisations (DAO) with non-fungible tokens (NFTs).
Another factor that distinguishes The Sandbox as a unique platform is that it’s the first to incorporate blockchain technology into the gaming industry. The Sandbox generates a metaverse of involved players contributing to its development. The platform does this by focusing on user-generated content, allowing users to submit their thoughts and ideas regarding the project’s progress.
Star Atlas and The Sandbox Collaborate for the First Time
Sandbox, a subsidiary of Animoca Brands, and Star Atlas, a next-gen metaverse with triple-a game design and Unreal Engine 5 graphics built on the Solana blockchain, have announced the first step in revolutionising gaming interoperability between Ethereum and Solana blockchains.
The Star Atlas VoxEdit contest, which slated submissions for May 2 to May 15, kicks off the collaboration between the two metaverse worlds.
This contest allows players to take on the role of an ambassador from The Sandbox. The role involves visiting one of Star Atlas metaverse’s three primary galactic factions: ONI, Ustur, or MUD. Sandbox’s free VoxEdit programme is then used by envoys to create a report on what they find, by producing a portrait of one of the faction’s inhabitants.
The Sandbox and Star Atlas teams will vote on the winners, and the results will be released on June 11. Top four finishers will receive 50,000 SAND in-game cash and a fleet of rare Star Atlas starship NFTs.
Slipknot Partners with The Sandbox to Create KNOTVERSE
Slipknot has teamed up with The Sandbox to establish KNOTVERSE, which is described as a completely immersive place to host Web3 activities.
With the collaboration, the long-running heavy metal band Slipknot is believed to be taking its self-curated Knotfest event brand and media site into the metaverse.
KNOTVERSE will host a variety of Web3 experiences such as unique NFTs, generative collections, metaverse concerts, gaming, fan and festival experiences, unique collaborations, merchandise, new music, and real-life events to create a one-of-a-kind meeting place for heavy music culture in the metaverse.
Slipknot’s dedicated section, dubbed KNOTVERSE LANDS, within The Sandbox’s virtual environment, will take on Knotfest’s “dark carnival theme” and incorporate more than 20 years of Slipknot themes and visuals.
21Shares Kickstarts Metaverse ETP with SAND Token
21Shares, a crypto exchange-traded product (ETP) issuer located in Switzerland, has created a new SAND token-focused ETP to expose investors to The Sandbox.
Institutional investors use ETPs to speculate on cryptocurrencies and blockchain projects. The Sandbox platform, built on Ethereum, is a decentralised virtual environment where users may monetise assets and gaming experiences. Investors will be able to safely profit from The Sandbox’s growth, thanks to the ETP.
Hany Rashwan, CEO and co-founder of 21Shares, explained that the company chose The Sandbox due to investor need for new alternatives outside Bitcoin and Ethereum.
SAND Technical Analysis
At press time, SAND is trading at $1.40. The digital asset has witnessed an uptrend of 23.67% in the last 24 hours. SAND has slumped by 31.87% in the past 7 days and is currently 83.73% below the all-time high of $8.44.
However, The technical indicators of SAND show a bullish value. The crypto asset trades above the 78.6% Fibonacci retracement threshold of $1.39, which means SAND will likely see resistance above this level and a broader market bull run could see it break above.
The digital asset’s Relative Strength Index (RSI) stands at 61.49. This shows that SAND is in the underbought zone, leaving more room for investors to buy SAND and rise with the market.
Furthermore, The Sandbox’s asset is trading above the 50-hour Simple Moving Average (SMA) indicator, with a value of $1.3775. This also indicates that the asset is bullish.
The Moving average convergence and divergence (MACD) indicator shows a buy signal.
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