The Sandbox metaverse native token, SAND, experienced significant price gains today after announcing its new partnership with Lionsgate, a prominent film producer in the United States, and its long-time partner, Millennium Films.
At the time of writing, SAND was trading at 0.873, up 3.78% after retracing from a daily high of $0.9753. The rally comes amid the ongoing ructions in the crypto market.
Lionsgate in the Metaverse world
Lionsgate and its popular franchises like Rambo, Expendables, and Hellboy will be featured in a metaverse LAND called ‘’Action City’’. With the new partnership, Lionsgate will feature one of the famous licensed properties that belong to the studio and Millennium Films.
According to The Sandbox claims, this partnership will make Lionsgate studio to be the first major Hollywood studio to join the metaverse. However, this will not be The Sandbox’s first major partnership as it has also featured content from The Smurfs, Snoop Dogg, and Adidas as well as selling LAND to great firms like HSBC.
Metaverse gains traction as the token’s prices decline
As the crypto markets continue to experience a drastic decline, the majority of the cryptocurrencies have not been left behind. However, cryptos with metaverse backup like The Sandbox and Decentraland have been in a better position, with the current growing interest in Metaverse and NFTs.
Besides that, investors tend to explore projects with services or tangible products during rising inflation and high-interest rates times. This has given SAND flexibility in the current market meltdown.
It’s important to note during the partnership there were no financial details disclosed but according to the reports, The Sandbox is looking for ways to raise over $4 billion.