The Sandbox (SAND) price has surged 121% in the last 7 days and 40% in the last 24 hours. It is among the few cryptocurrencies that have remained bullish amid the current decline in the crypto market.
The recent price hike is attributed to the highly anticipated upcoming alpha release of the Sandbox game on November 29th and the potential partnership with Adidas.
What Is Sandbox
Sandbox is a blockchain-based metaverse with unique open-world features where players can buy plots of land and build them to their taste. It’s one of the most talked-about metaverse coins in crypto.
Amid its rising popularity, Sandbox is receiving investments from major companies like Softbank which has invested $93 million in the project. Other major crypto platforms like Coinmarketcap and Binance have also shown interest in the project.
Many of these companies and platforms have bought plots of land on the Sandbox in anticipation of its release.
Why Is SAND Price Rising?
The current SAND price hike can be attributed to two major events.
One of them is the much anticipated upcoming alpha release of the Sandbox game on November 29th.
The other is a possible partnership with Adidas. The partnership was revealed through a tweet from Adidas suggesting a possible collaboration with the sandbox.
The tweet stated:
“adiVerse anyone? What should we build, together in @TheSandboxGame?”
And it has received 1.5k likes and 450 retweets.
Partnerships with mainstream brands are the perfect catalyst for the Bull Run, with many iconic brands joining the movement.
With more influential brands establishing partnerships with leading crypto brands, we will be expecting extreme bullish momentum on crypto markets’ valuations.
It’s great to see major brands like Death Row Records launching an NFT drop on Crypto.com and also Crypto.com’s $700 million purchase of the naming rights to LA’s largest arena, open up to crypto and start discovering how blockchain technology can take part in benefitting their products.