Last Updated on June 18, 2022 by Bitfinsider

Following Friday’s announcement of a collaboration between the metaverse and Lionsgate Studios, the Sandbox native token, SAND, surged off eight-month lows.

SAND jumped 20% to $0.9715 as a response of the news, before reversing direction and trading at $0.8647. In the face of bear market doom, the move helped SAND overcome a seven-day losing streak.

Rambo, Hellboy, and The Expendables, all of which will be featured in The Sandbox, are owned by Lionsgate, one of the largest private studios in the United States.

SAND was trading at 0.873 at the time of writing, up 3.78 percent from its daily high of $0.9753. The Sandbox had a 24-hour trading volume of $269.75 million.

SAND has a circulating supply of 1.25 billion units and a maximum supply of 3 billion units as of Friday.

The metaverse has established a complete transition strategy based on their growing production in the horror and action domains, and Lionsgate will contribute to translating its characters and fascinating stories to web3-compatible platforms.

The Sandbox is a play-to-earn blockchain game that allows users to create a digital environment using non-fungible tokens on the Ethereum blockchain.

Players can design their own avatars in the Sandbox to access the various games and destinations accessible.

According to The Sandbox, Lionsgate will be the first big Hollywood studio to enter the metaverse as a result of this partnership.

This will not be The Sandbox’s first major collaboration; it has already hosted content from Snoop Dogg, The Smurfs, and Adidas, as well as selling LAND to financial giants like HSBC.

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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.