The Sandbox’s native token, SAND, rose from an eight-month low on Thursday after the metaverse announced a partnership with Lionsgate Studios.

SAND was up a whopping 20% ​​to $0.9715 after the announcement, although it ended up making some profit trading 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, owning properties such as Hellboy, Rambo and The Expendables, which will now be included in The Sandbox.

The metaverse will now set up an area dedicated to Lionsgate media properties called “Action City.”

Lionsgate Partnership Drives Licensed Interest In The Sandbox

Under the partnership, Lionsgate’s “Action City” will feature popular, licensed properties from the studio, as well as its longtime collaborator Millennium Films.

The Sandbox claims the partnership will make Lionsgate the first major Hollywood studio to enter the metaverse. But it’s far from the metaverse’s first fruitful partnership.

The virtual platform features content from Adidas, Snoop Dogg, The Smurfs and has also sold land to major corporations such as HSBC.

No financial details of the Lionsgate agreement have been disclosed.

The Sandbox, which is owned by blockchain gaming giant Animoca Brands, is reportedly seeking capital at a valuation of more than $4 billion.

Can metaverse interest catch up with a crypto crash?

The Sandbox and its colleagues have seen a drastic drop in token prices this year as crypto markets collapsed. But their support from an established metaverse, especially for The Sandbox and peer Decentraland, may offer them better prospects than their smaller peers.

In times of rising inflation and high interest rates, investors tend to look to projects with a tangible product or service — something The Sandbox and most of its metaverse colleagues can attest to.

This may give SAND some resilience to ongoing crypto market ruts. Still, by 2022, the token will have lost about 85% of its value.

With over five years of experience in global financial markets, Ambar plans to leverage this knowledge for the fast-growing world of crypto and DeFi. His main interest lies in finding out how geopolitical developments could affect crypto markets and what that could mean for your bitcoin holdings. When he’s not scouring the internet for the latest news, you can play him video games or watch Seinfeld reruns. You can reach him at [email protected]

The content presented may contain the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication is not responsible for your personal financial loss.

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