Ethereum-Based Gaming Project Rallies After Coinbase Announces Surprise Altcoin Listing

2022-05-26 11:06:44

An altcoin fueling a play-to-earn metaverse game is seeing green after being added to the US’s largest crypto exchange.

In a new announcement, Coinbase says The Sandbox (SAND) will start trading on Coinbase Pro paired with Tether (USDT) once appropriate liquidity conditions are met.

The Sandbox is a virtual world where users can buy plots of land and create non-fungible tokens (NFTs) of avatars and other in-game assets. Native utility token SAND is built on Ethereum (ETH) and can be used for purchases, staking, and governance. The game also employs the tokens LAND and ASSETS for other purposes.

According to the project’s whitepaper,

“Players can build, own, and monetize their gaming experiences… Our vision is to offer a deeply immersive metaverse in which players will create virtual worlds and games collaboratively and without central authority.”

Back in March, the project revealed it was partnering with British banking giant HSBC to increase the presence of esports within the metaverse.

The Sandbox also inked a deal with Warner Music Group in January to create the metaverse’s first-ever music-themed world.

News of the Coinbase listing initially sent The Sandbox skyward by 21.7% from $1.24 to $1.51.

After correcting slightly, SAND remains up 8.03% on the day and is trading for $1.45.

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