The Sandbox Price up 6.82%- Time to Buy SAND?

• With a Gain Amidst the Market Downturn, More Investors are Looking to Buy SAND
• The Sandbox Partners with Mastercard
• Animoca Brands Reports Strong Financials

Although the crypto market began the week with significant losses, several crypto assets have notched gains. SAND is one such coin, coasting off a wave of partnerships and strong fundamentals reported by its developers. For investors looking to buy SAND, we’ll examine the price trajectory of the digital asset and the recent fundamentals driving its price.

The Sandbox Partners with Mastercard

SAND is the native token for The Sandbox – an online game that blends non-fungible tokens (NFTs), the metaverse, and GameFi. The platform has become one of the crypto industry’s standards for the metaverse, allowing players to enjoy unique experiences. Investors can also buy SAND to speculate on its price.

Earlier this month, The Sandbox scored a big win when payment giant Mastercard announced a partnership with the platform and other NFT marketplaces to “bring its payment network to Web3”.

Mastercard’s 2.9 billion users will be able to buy NFTs directly using their cards as part of the cooperation. This eliminates the need first to convert their funds to cryptocurrency, removing a major roadblock to NFT purchases.

According to Mastercard, these connections are intended to boost crypto accessibility and grow the ecosystem of NFTs and Web3 products. While The Sandbox is one of the most well-known NFT marketplaces to join its alliance, Mastercard will also cooperate with Candy Digital, Immutable X, and Nifty Gateway.

Animoca Brands Reports Strong Financials

Investors looking to buy cryptocurrency will be encouraged by the recent financial filings from The Sandbox’s parent company, Animoca Brands.

The Hong Kong-based digital entertainment company recently published its key unaudited financial results for the last quarter of 2021 and the first four months of the year, revealing over $1.5 billion in investments across over 340 projects and $721 million in revenues from NFT sales.

The other income revealed in the results includes gains in investments, such as a cash balance of about $98 million and a crypto portfolio worth about $211 million. The firm also reported unspecified third-party tokens worth about $660 million.

Furthermore, Animoca holds crypto reserves worth about $4.2 billion, which are not reflected in its balance sheet. The company has assured investors of its strong standing going forward, especially in uncertain market conditions.

SAND Technical Analysis

SAND currently trades at $0.9388. This price peg represents an impressive gain of 9.5% in the past 24 hours. The digital asset has beaten the broader market and several other large-cap coins, encouraging investors looking to invest in cryptocurrency to buy SAND.

However, the crypto asset is trading below all of its major moving average (MA) indicators – from the 10-day MA of $1.15 to the 200-day MA of $3.45. Still, the digital asset’s trajectory should see it reclaim some of those highs in the coming days.

With a negative moving average convergence divergence (MACD), SAND is giving off a sell signal. This is expected since the coin is trailing its MA indicators, and the broader market’s downturn still weighs on it. However, SAND’s relative strength index (RSI) of 37.36 shows that it is trading in the underbought level. The RSI should encourage investors to buy SAND.

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