Tag: The Sandbox (Sand)

Despite Meta’s Stock Price Plunge, Metaverse Tokens Surge

by CryptoPotato

The world’s largest social media platform – Facebook – saw the shares of its parent company, Meta, plunge by more than 26% during yesterday’s trading session. Despite this, metaverse-related tokens have been surging for the past week.

  • CryptoPotato reported yesterday that FB stock plunged over 22% during the after-hours trading session. The regular one wasn’t any better as the stock lost a total of 26.39% throughout the past 24 hours, wiping off upwards of $200 billion off its market capitalization.

  • The reason for the decline was hidden in Meta’s financial report for the last quarter of 2021.

  • The document revealed that Facebook saw a decrease in its daily active users (DAU) for the very first time and the markets were quick to react.

  • Meta also wrote off $10 billion as expenses on its Metaverse push revealed in Q4 2021.

  • Interestingly enough, metaverse-related cryptocurrencies such as The Sandbox’s SAND and Decentraland’s MANA have been surging over the past few days.

  • In the last week, MANA is up almost 20%, whereas SAND is up 7.5%.

  • This decoupling is quite interesting given previous events.

  • Last year, when Mark Zuckerberg revealed that the company will rebrand to Meta in an effort to push the development of the metaverse, associated tokens skyrocketed in value.

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The Sandbox Partners with Warner for Musical Metaverse

by CryptoPotato

The Sandbox is aiming to introduce a music-themed virtual world in a new partnership with Warner Music Group (WMG). In an announcement on Jan. 27, the team stated that it is the first time Warner has ventured into the realm of NFTs and the Metaverse.

The Sandbox team added that WMG acquired an “ESTATE,” which will act as a portal for the firm’s artists to make an appearance in the Metaverse.

The American multinational entertainment and record label conglomerate commented:

“Our partnership with The Sandbox adds a new layer of possibility in the metaverse, with the ownership of virtual real estate. As a first-mover, Warner Music has secured the equivalent of beachfront property in the metaverse.”

A Musical Metaverse

Chief Digital Officer at Warner Music Group, Oana Ruxandra, went on to state that the firm will “develop persistent, immersive social music experiences that defy real-world limitations and allow our artists and their fans to engage like never before” on its newly acquired slice of the Metaverse.

The “ESTATE” has been described as a hybrid of musical theme park and concert venue where Warner’s leading performers will play.

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The Sandbox, which unveiled plans for a Hong Kong-linked mega-city earlier this month, will hold a sale of LAND near this new venue allowing music fans to own a virtual plot close to the action. Sébastien Borget, COO and co-founder of The Sandbox, commented that the strategic partnership “brings the open metaverse one step forward in the direction of fan-owned and community-driven initiatives — the possibilities are very exciting.”

WMG has now joined more than 200 existing Sandbox partnerships. The company is one of the world’s biggest music businesses, comprising hundreds of top artists and labels.

Earlier this week, The Sandbox announced the launch of a $50 million accelerator program in partnership with parent company Animoca Brands and venture firm Brinc. The Sandbox Metaverse Accelerator Program is scheduled to start in Q2, 2022, and will invest $250,000 into a hundred emerging projects over the next three years.

SAND Price Outlook

The project’s native token, SAND, has been buoyed by the news cranking an impressive 16.4% on the day to defy the bearish crypto market. At the time of writing, SAND was changing hands for $3.54, according to CoinGecko.

However, the token has taken a hit over the past month, dropping 40% of its value. SAND is currently trading down 57.6% from its Nov. 25 all-time high of $8.40.

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The Sandbox Partners With Hong Kong Big Shots to Launch Metaverse Mega City

by CryptoPotato

Metaverse platform, The Sandbox has announced the creation of Mega-City by onboarding a slew of partners as it continues the expansion of Hong Kong culture into the metaverse. Game developer, Animoca said that the new partners had joined the platform by acquiring LAND NFTs.

Bringing Hongkong’s Heavyweights into Metaverse

According to the official blog post, The Sandbox has added several partners across various sectors such as film, music, entertainment, acting, professional services, gaming, etc.

The main objective is to design a new cultural hub, dubbed – Mega City, as part of its expansion plans of Hong Kong’s culture into the metaverse that will feature the city’s “diverse talents and success stories.” The platform detailed that the city will represent advancements across different verticals and the vibrant culture of the region.

The announcement reads,

“The soul of Mega City is the talent of Hong Kong. More than a strict metaverse reflection of Hong Kong, Mega City is its expansion into the future, a place of dreams and fun. All LAND in Mega City will share this city-of-the-future connection that will be uniquely Hong Kong in its visual approach while reflecting the vision of individual LAND owners.”

Some of the new entrants that have acquired the native LAND tokens to build Mega City include Adrian Cheng, alternative investing leader Sun Hung Kai & Co, professional services company PwC Hong Kong, blockchain-focused investment and asset management firm TIMES CAPITAL, director/producer/actor Stephen Fung, actress and model Shu Qi, popular musician Dough-Boy, game IP Little Fighter, and regional illustrator Dreamergo.

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The Sandbox’s Collaboration

Additionally, The Sandbox revealed that it had forged more than 165 partnerships. Some of the most prominent ones include German multinational corporation Adidas and American rapper Snoop Dogg. It has also joined forces with The Walking Dead, South China Morning Post, The Smurfs, Care Bears, Atari, CryptoKitties, Shaun the Sheep, among others.

The hype around property transactions of virtual land has never been higher. The blockchain-based metaverse – The Sandbox, has continued to ride the wave of a blockbuster year and the rising user interest. As a result, its native token SAND has seen considerable gains over the past year, from trading at a low of $0.052 to establishing an all-time high above $8.4.

Now, though, the market-wide correction has pushed the asset south, and it trades below $5.

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The Sandbox Partners With Metaverse Platform BlockchainSpace

by CryptoPotato

According to the official press release shared with CryptoPotato, the latest move is a part of the collaborative effort, wherein BlockchainSpace plans to connect a huge number of guilds and players to the virtual world created by The Sandbox.

The Sandbox-BlockchainSpace: Collaboration

For the uninitiated, BlockchainSpace describes itself as the “guild hub of the metaverse.” It offers the infrastructure and technology. With the partnership, the team behind the metaverse platform will provide access for its 2,600 guilds and 680,000 players to the growing virtual world of The Sandbox. As per the announcement, BlockchainSpace’s guild infrastructure enables tracking interaction and connects players with the help of its network across the world.

This isn’t the first time the two entities have collaborated. As a matter of fact, The Sandbox and BlockchainSpace had previously joined forces to develop the Philippine community, launched voxel non-fungible token (NFT) art contests, among other initiatives.

While revealing that the renewed partnership will be dedicated to introducing more guilds and players into The Sandbox ecosystem, the press release further added,

“Moreover, it is a valuable showcase for BlockhainSpace’s guild infrastructure and network and how it can scale to projects on The Sandbox level. Scaling communities for NFT games is a crucial aspect of building and expanding the appeal of the metaverse.”

The Sandbox and Battle of Metaverse

In November this year, The Sandbox, which is a subsidiary of Hong Kong-based blockchain gaming unicorn Animoca Brands, had raised $93 million in a funding round led by SoftBank’s Vision Fund 2. Other investors such as Animoca Brands, Samsung Next, True Global Ventures, Polygon Studios, Liberty City Ventures also participated in the round.

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The Sandbox saw significant adoption this year., especially due to the NFT explosion and the subsequent capital inflow into the sector that helped the platform’s growth trajectory. As a result, it managed to fetch high-profile partnerships that included the likes of Snoop Dogg, CryptoKitties, The Smurfs, Care Bears, among others.

Besides, the latest partnership comes just a day after Adrian Cheng, the Chief Executive of Hong Kong real estate behemoth New World Development, announced exploring metaverse and his plans to invest in the blockchain gaming platform. The property tycoon also went on to reveal his intention to acquire one of its largest plots of digital land.

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The Sandbox (SAND) Skyrockets 60% After a $93M Fundraising Round Led by SoftBank

by CryptoPotato

The Sandbox is essentially a sandbox game for mobile phones as well as Microsoft Windows. Developed by game studio Pixowl, the platform was released in May 2012. Three years later, it was launched on Steam.

As NFTs and blockchain disruption in the gaming sector gained traction, the brand was acquired by Hong Kong-based blockchain game developer and investor in non-fungible tokens (NFTs) Animoca Brands in 2018.

Animoca had previously raised $2.5 million in funding for the development of The Sandbox in 2019. In Q3 of the same year, the project welcomed an investment worth more than $2.0 million in both cash and crypto from Square Enix, B Cryptos, and True Global Ventures.

The Sandbox’s Plans to Grow Its Open NFT Metaverse

The latest round of funding saw SoftBank Vision Fund 2 leading the troupes along with other investors such as Animoca Brands, True Global Ventures, Liberty City Ventures, Polygon Studios, Samsung Next, Galaxy Interactive.

The main objective behind the fundraising round is to support and aid the growth of The Sandbox’s NFT-powered entertainment metaverse.

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According to Animoca Brands’ official press release, the investment will enable the team behind the project to accelerate its position as a one-stop shop and a “prime entertainment destination.”

In it, brands, IPs, and celebrities can come together and engage with their fans in a meaningful way with the help of virtual experiences, including games, live performances, and social engagements.

Scaling the growth strategy, operations, and player acquisition in The Sandbox ecosystem remains a key focus.

Impressive Growth & High-profile Clientele

Owing to the NFT hype and capital explosion in the sector, The Sandbox has managed to generate more than $144 million in GMV to date and handles well over 500k users on its platform.

The gaming project has formed several high-profile IP partnerships, including Snoop Dogg, The Walking Dead, The Smurfs, Care Bears, Atari, and CryptoKitties to roll out “voxelized versions of their worlds and characters in the metaverse.”

The Sandbox has also added new strategic partners such as Liberty City Ventures and Galaxy Interactive to benefit from the former’s geographic reach and expand the network of brands, IPs, and gaming studios interested in broadening its scope in an open metaverse.

SAND Skyrockets to a New ATH

Shortly after the news went live, the price of The Sandbox’s native cryptocurrency went on a tear. In a matter of hours, SAND added roughly 60% of value as it went from $2.1 to an intraday high of $3.3, which actually became the new all-time high.

As of now, the asset has retraced slightly as it trades below $3, but it’s still up by double-digits on a 24-hour scale.

SANDUSD. Source: TradingView
SANDUSD. Source: TradingView

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