Sandbox's SAND token braces for a $134 million unlock event

Sandbox's native token came under intense pressure ahead of a major token unlock. SAND dropped to a low of $0.40, which was much lower than last month's high of $0.4831. In all, the token has dropped by more than 56% from the highest level this year.

Timeline of The-sandbox

On Aug 14, a scheduled token unlock event will see 332.55 million SAND tokens worth $133 million released into circulation. Historical data shows that market reactions could put The Sandbox price stability at risk.

Metaverse-based project The SandBox saw QoQ growth in its NFT mints and primary sales. However, the volume of sales from other NFT marketplaces fell, resulting in a decline in total revenue.

The Sandbox, an Ethereum-powered metaverse, has announced a partnership with the British Museum to create a range of digital collectibles that mirror the museum's collections since its inception in 1753.

The British Museum, a venerable cultural institution in London, is venturing into the world of Non-Fungible Tokens (NFTs) through a partnership with the Ethereum-based metaverse game, The Sandbox.

Fast food giant McDonald's has launched a new metaverse experience using the virtual world blockchain The Sandbox (SAND). According to a statement from Animoca Brands, the company behind The Sandbox, McDonald's Hong Kong has built a new metaverse game experience called “McNuggets Land” for the 40th anniversary of Chicken McNuggets.

McDonald's Hong Kong has teamed up with The Sandbox to create the first Web3 experience platform. This partnership has resulted in the launch of "McNuggets Land", a unique metaverse gaming experience that marks the 40th anniversary of McNuggets.

According to a recent report on the metaverse by “Metaversed,” among the top twenty Web3 virtual worlds for July 2023 we find both The Nemesis and Sandbox, along with many others.

After a lackluster start to July, The Sandbox (SAND) price finally broke above the critical $0.40 resistance this week. Can the bullish investors build momentum to continue the SAND price recovery mission?

“Until there is more certainty in these frameworks, we are intending to utilise existing regulatory initiatives to develop policy and regulation for this asset class,” said Treasury.

The European Commission said that it seeks to explore the potential of digital cooperation models, which includes the decentralized autonomous organizations (DAOs) underpinning different financial applications.