Why Is The Sandbox (SAND) Up Today?

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

The Sandbox is an open world game based on blockchain technology. The game aims to be the go-to metaverse, where users can enter a virtual reality world with NFTs and decentralized governance. With the rising popularity of non-fungible tokens, The Sandbox has outperformed most other cryptocurrencies in the recent market downturn.

What is The Sandbox?

The Sandbox is a blockchain based video game on Ethereum’s network. It uses the “play to earn model” where players can earn cryptocurrency for playing the game. The main way in which players earn money on the Sandbox is through non-fungible tokens (NFTs). 

Players can buy and sell non-fungible tokens on The Sandbox marketplace. A core non-fungible token on the platform is land which users can own in the metaverse. This land can be used in several different ways, and players can even monetize their land by charging other players to access their real estate. 

The Sandbox (SAND) is Up 13% in 24 Hours

The Sandbox is currently trading hands at around $0.50, up around 13% from yesterday’s prices. However, the token is still trading at a discount from its all-time highs, which happened alongside the rest of the cryptocurrency bull market. 

The Sandbox saw a local low of $0.15 only a few weeks ago. Since then, not much has happened with the cryptocurrency markets as a whole, but NFT projects like SAND and Axie Infinity have skyrocketed in value. 

Why is SAND Moving?

The Sandbox recently announced its collaboration with The Walking Dead, which may have affected the token’s price. The game plans to release rare zombie NFTs in its open world game, but the details of how this integration will work have yet to be disclosed.

Another reason that Sandbox is appreciating in value is because of the rising popularity of non-fungible tokens. While the NFT boom settled over the past few months, there’s been a resurgence of high-end non fungible tokens. Investors are buying CryptoPunks, Meebits and Bored Ape Yacht Club NFTs for thousands of dollars, and some of these investors go to The Sandbox metaverse to show off their collection. 

Where to Buy The Sandbox

The Sandbox is a relatively popular cryptocurrency, so you have a few options as to where to invest. Binance is the largest crypto exchange that supports SAND, but the token is only available on Binance.com, which is only available to investors outside of the U.S.

If you’re a U.S based investor, then Gemini is the best trading platform to use for The Sandbox. The exchange has a mobile app and desktop website, so it’s easily accessible from any device. Another great option is Crypto.com which has exceptionally low fees on its platform.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.