This metaverse coin bought by the Turks became a partner with the Japanese company Toei Animation, eyes were turned to the price change of the coin.
Metaverse coin and this company coming together
The Sandbox, an Ethereum-based metaverse and games company, announced on February 16 its partnership with Japan’s animation studio giant Toei Animation. The Sandbox announced that it will acquire Minto, a company that deals with advertising, character production, webtoon and web3 businesses in the same industry, in addition to Toei Animation Studio.
One of the pioneers of Japanese animation, Toei Animation has produced some of Japan’s largest and world-leading animation productions, including ‘DRAGON BALL’, ‘SAILORMOON’ and ‘ONE PIECE’.
This announcement stated that this partnership would ‘present Toei Animation’s worldview with the experiences in its plot’. To celebrate this deal, The Sandbox has announced that it will give 1,000 free NFTs to early participants. The blog also stated that NFTs will not be based on Toei’s content. Toei Animation Co. LTD.’s Managing Director, Satoshi Shinohara, made the following statement:
“We are very happy and proud to work with The Sandbox and Minto as our partners. I fully believe that the “Fleet” we have created will discover new continents and new routes that will guide the entertainment industry for many years.”
SAND price not reacting
SAND price is up 24% in the past two days, pushing the Relative Strength Index (RSI) into overbought territory. During this bullish, the altcoin ignored the two red ‘one’ sell signals flashed by the Momentum Reversal Indicator (MRI).
The Fibonacci extension tool shows that if the bullish momentum gains strength, the SAND price could expand to label the 161.8% Fibonacci extension level at $0.824. In a highly optimistic situation, the altcoin could retest the 261.8% Fib level at $0.917, bringing the overall gain to 15%.
On the other hand, if SAND price turns back and produces a four-hour candlestick below $0.692, it will create a lower bottom and invalidate the bullish argument for SAND. cryptocoin.com According to the data, SAND is instantly traded at $ 0.78.
Unlocking SAND is on the agenda
Token Unlock has revealed a major update to The Sandbox (SAND) that could have a huge impact on the network. According to a tweet, 372.57 SAND worth $260 million would be unlocked. The newly unlocked tokens will account for 12.4% of the total supply.
After unlocking, tokens will be allocated to others at different rates. Of the unlocked tokens, 12% will be allocated to the Binance (BNB) Launchpad sale, 17% to the seed sale, 12% to the foundation, 19% to the team, and over 25% to the reserve.
This update may be of interest to investors because things can get trickier if historical trends are taken into account. Two SANDs were unlocked last year, and both were followed by price drops.
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