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Adidas Enters the Metaverse, Joins The Sandbox

Posted by
Robert Hoogendoorn

Investors react, SAND up 32%

While The Sandbox is preparing the launch of their first play-to-earn alpha test next week, they have welcomed sports brand Adidas as one of their meta citizens. The price of the native SAND token responded immediately, as it increased 32% to the current $5.16.

The Sandbox already has partnerships with various tech and entertainment companies, for instance Atari, The Smurfs, Animoca Brands and The Walking Dead. However, a partnership with a fashion brand was still missing. From that perspective Adidas would be a perfect fit. For those wondering what Adidas will build in The Sandbox, it seems like they aren’t sure yet. “What should we build together in The Sandbox?”, they tweeted. “AdiVerse?” 

The native SAND token for The Sandbox has already seen a tremendous run in the past 30 days. The price increased 500% since Facebook brought wider attention to the concepts of the metaverse. Just one month ago the SAND token had a value of $0.80. The news of Adidas joining the ecosystem added another 32% boost over the past 24 hours. 

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The Sandbox alpha test

The Sandbox has its alpha testing phase planned for November 29th. Only those who own the Alpha Pass NFT will be able to earn up to 1000 SAND for their participation. The team will give these away to landowners and through social media campaigns.

The Sandbox Alpha will allow Alpha Pass NFT holders to play 18 different game experiences, with a new one unlocking every day over the course of 3 weeks. Only those with an Alpha Pass NFT can earn SAND tokens and NFT rewards. 

All other players can access the social hub and 3 different game experiences. However, they won’t be able to earn SAND or NFT rewards. The alpha test will start on November 29th and will end on December 20th.

Land value in The Sandbox soaring

While the price of SAND pumps, so does the value of land in The Sandbox. During sales events, the cheapest land parcel has always carried a 1011 SAND price tag. That means that land in an upcoming sale would cost at least $5000. In addition, prices on the secondary market have gone up as well. The cheapest land costs 2700 SAND or more than $14.000 at the time of writing.

Despite the high prices, the trading volume for The Sandbox is up 15% in the past 24 hours to $9.2 million. On a weekly basis, the virtual world sees more than $55.6 million in NFT trading, placing it in the Top 5 most valuable NFT collections in the DappRadar NFT Rankings

DappRadar NFT Collections, sort by 7D trading volume (23/11/2021)

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