Short-term traders in the sandbox increase by 32% as larger companies join the metaverse
content
- Sandbox Partners with HSBC
- entering the metaverse
IntoTheBlock Analytics also reported a significant increase in the number of addresses holding short-term traders, or sandboxes (SANDs), for less than a month amid renewed interest in the metaverse.
The on-chain analytics firm noted that the price of sandboxes has gone up as new players like HSBC are joining the metaverse through sandboxes. The number of short term traders or addresses held for less than a month has also increased by 32.37% in 30 days.
@TheSandboxGame Increasing.
As new players like HSBC are entering the metaverse through the sandbox, their token $SAND increased by 8%.
With renewed interest, we saw a significant increase in the number of traders – holding addresses for < 1 month, a 32.37% increase in 30 days pic.twitter.com/lOClQJYhMV
— IntoTheBlock (@intotheblock) 16 March 2022
According to IntoTheBlock’s holder structure for the sandbox, addresses in this category make up 20% of all holder addresses. The bulk, or 77% of holders, have held within a year.
Sandbox is a virtual gaming world where players can build, own and monetize their gaming experiences. Digital Land remains in high demand, and The Sandbox is one of the most competitive metaverses to rival Decentraland.
Sandbox Partners with HSBC
sandbox announced a tie-up with HSBC, one of the world’s leading international banking and financial services companies.
Glad to announce that we have partnered with @HSBC, one of the world’s largest international banking and financial services providers! I
Providing many opportunities to engage with the global financial services and sports communities in The Sandbox Metaverse.https://t.co/GmQ3lrVmnB
— Sandbox (@TheSandboxGame) 16 March 2022
HSBC is the first global bank to enter The Sandbox metaverse. The bank will buy a plot in The Sandbox Metaverse, which it plans to develop to engage with sports, e-sports and gaming lovers. HSBC’s development in the virtual plot of land is not disclosed.
entering the metaverse
Global brands partnering with The Sandbox include Gucci, Warner Music Group, The Walking Dead, Snoop Dogg and Adidas.
Sandbox and Warner Music Group, or WMG, announced a partnership in late January to establish a musical theme park and concert venue within the game Metaverse. Warner Music made its first foray into the non-fungible token (NFT) metaverse with this venture.
Although the Metaverse concept has existed for a long time, it was recently brought to the attention of the general public when Facebook changed its name to Meta to emphasize its focus on the virtual world. Since then many large firms and brands have registered trademarks for selling virtual things in the Metaverse.