NFT gaming platforms continue to stay on trend in the crypto world. On Monday, November 1, a Hong Kong-based NFT game with platform sandboxA new fund of $93 million was provided by a large bank like SoftBank.
NFT gaming company Sandbox has continued to grow stronger with recent large investments. Firm’s local token SAND After these investments, it increased its price by more than 300% and exceeded the level of 3 dollars.
sandbox The gaming platform allows users to create a virtual world like Facebook’s “metadata warehouse” using NFTs. This feature offered by the company can be considered a “classic” development that combines digital games with NFTs.
Sandbox gaming platform that allows players to fully “build, own and monetize” their gaming experience. Ethereum based on the blockchain. sandbox It also provides tools for players to create assets on the platform and allows creators to take ownership of their content as NFTs.
Blockchain game developer Animoca Brandsowns the majority of the shares in Sandbox. The investment made by SoftBank was the first direct crypto investment made under “Vision Fund 2”.
Facebookof last week Meta Following the announcement, Sandbox (SAND) metaverse participated in the mega rally along with associated cryptocurrencies. late on Monday, SAND The price rose to an all-time high of $3.25.
Right now SAND Its price is trading at $2.63, with a total market cap of $2.62 billion. Looking at the weekly chart, SAND has increased its price by about 300%.
Another important development that triggered this mega rally was Sandbox’s announcement that it has established partnerships with popular brands and celebrities. The firm has also partnered with Snoop dog, who has promised to create a digital replica of his mansion in the Sandbox metaverse.
CEO and co-founder Sebastian Borget In a statement to Reuters; He said the latest investment will boost growth in the Sandbox creator’s economy. This will also help the platform expand its wings to other industries such as architecture, fashion and virtual concerts. Borget added:
“We are creating an open metadata store. We’re positioning Sandbox right across from giant companies that claim to own the metaverse, and offer an alternative where users are.”
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