NewsletterThe Sandbox (SAND) Jumps 20% After Partnering With This Major Studio
The Sandbox’s native token, SAND, rallied from eight-month lows on Thursday after the metaverse announced a partnership with Lionsgate Studios.
SAND jumped as much as 20% to $0.9715 after the announcement, although it eventually pared some gains to trade at $0.8647. The news helped SAND break a seven-day losing streak amid weakness in the broader crypto market.
Lionsgate is one of the largest independent studios in the United States, and owns properties such as Hellboy, Rambo, and The Expendables- which are now set to be featured in The Sandbox.
The metaverse will now set up an area dedicated to Lionsgate media properties, called “Action City.”
Lionsgate partnership brings more licensed interest in The Sandbox
Under the partnership, Lionsgate’s “Action City” will feature popular licensed properties belonging to the studio, as well as its long-time collaborator Millennium Films.
The Sandbox claims that the partnership makes Lionsgate the first major Hollywood studio to enter the metaverse. But it is far from the metaverse’s first prolific partnership.
The virtual platform features content from Adidas, Snoop Dogg, The Smurfs, and has also sold land to major firms such as HSBC.
No financial details of the Lionsgate agreement were revealed.
The Sandbox, which is owned by blockchain gaming giant Animoca Brands, is reportedly looking to raise capital at a valuation of over $4 billion.
Can metaverse interest overtake a crypto crash?
The Sandbox and its peers have seen a drastic decline in token prices this year, as crypto markets crashed. But their backing by an established metaverse, especially for The Sandbox and peer Decentraland, may give them better prospects than their smaller peers.
During times of rising inflation and high interest rates, investors usually look at projects with a tangible product or service- something The Sandbox and most of its metaverse peers can attest to.
This may give SAND some resilience against ongoing ructions in the crypto market. Still, the token has lost about 85% of its value in 2022.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Solana Mobile Set to Launch SKR Token in January 2026
- Tom Lee’s BitMine Keeps Buying ETH, Adds $150M Despite DAT Purchases Crashing 81%
- Ripple Moves Over $101 Million in XRP to Binance, What’s Next?
- BONK Scores Major Win as Team Adjusts Fee Structure to Boost DAT Purchases
- Kalshi, Robinhood and Crypto com Face Cease & Desist Order in Connecticut
- XRP Price Prediction as ETF Buyers Add $50.27M to Holdings
- Ethereum Price Reclaims $3,200 as Shark Wallets Accelerate Accumulation
- Dogecoin Price Holds $0.15: Bullish Reversal or Just a Temporary Bounce?
- Sui Price Surges 10% As Vanguard Group Adds SUI to Bitwise 10 Crypto Index
- Bitcoin Price Prediction: Will Next Bull Run Push BTC to $100,000?
- Pepe Coin Price Risks 80% Crash as Alarming Pattern Forms and 6.5T Inflows
