The metaverse of Sandbox refused to back down despite a largely negative sentiment in the market over the last 24 hours. Rather, the altcoin managed to log in a breakaway recovery as most traders assessed its recent high-profile partnerships as a major sign that the project had comparatively strong fundamentals.
The metaverse rose by 10.23% to $3.38 at the UTC close on the 27th of January, which was then followed by another 5.42% spike to a price of $3.57 on Friday. At the same time, Bitcoin went down by 1.41% within the same time frame.
Sandbox Climbs Amidst Bad Rep
Most of the crypto traders had decided to increase their exposure to The Sandbox after the altcoin announced its partnership with Snoop Dogg, the American rapper, and Warner Music, a big-time record label. On the 27th of January, Snoop Dogg tweeted a teaser of what could be his upcoming NFT collection- which was dubbed “the Snoop Avatars.” The rapper also hinted that his avatars had a huge chance of being a part of the metaverse of Sandbox.
The latter half of the day saw the Sandbox also announcing that it would be creating a music theme park and concert venue within its metaverse through the help of Warner Music. While doing so, the gaming project also went on to note that the Warner Music artists would be virtually engaging with their fans and help generate a real revenue stream.
The co-founder of Sandbox and also the chief operations officer, Sebastien Borget, recently announced that they were shaping The Sandbox as a destination for entertainment where fans, creators, and players would be able to enjoy an immersive experience and be more closely connected to their favorite artists through nonfungible tokens.
