After a two-month correction that wiped out nearly 70% of the SAND token market valuation, the token has been trending upward since January 22, 2022.
The general outlook is bullish, despite today’s slight decline of around 4%.
Now let’s see what is hike
What is sandbox?
In a nutshell, Sandbox is a blockchain-based metaverse that allows users to create, create, sell and buy digital assets.
Its basic token is sand
Why is the price of sandbox (SAND) rising?
The most recent news about Sandbox Turn is the announcement of his partnership with American rapper Snoop Dogg and after the announcement, there was a surge in demand among investors.
On January 27, Snoop Dogg tweeted a teaser of what looked like his upcoming NFT collection (Snoop Avatar), which he said would be done on the sandbox metaverse.
This doesn’t happen everyday. Introducing Snoop Avatar!! Like, RT and drop your wallet address for a chance to be whitelisted. I pic.twitter.com/79KfEf63x9
— Snoop Dogg Avatars (@TheSnoopAvatars) 26 January 2022
Later that day, Sandbox announced that it would build a concert venue and a musical theme park in its Metaverse with Warner Music Support. It aims to help artists connect with their fans virtually and generate real revenue streams as well.
Sandbox’s chief operating officer and co-founder, Sébastien Bourget, told Cointelegraph:
“We are shaping The Sandbox into a fun entertainment destination where producers, fans and players can enjoy one-of-a-kind experiences and more closely connect with their favorite music artists through NFTs. “
This high-profile partnership will have a huge impact on future SAND takers as tokens will play a primary asset role in governance, staking and exchange.