SAND, the native token of the Sandbox metaverse, overcame recent market weakness as a New York event got underway.
SAND is currently selling for $0.97, up 8% over the previous day. The token may trade above $1 for the first time in two weeks with a further 4 percent gain.
The token experienced a rapid recovery over the last two days.
One of the major companies in the market, the metaverse, made a number of announcements at NFT NYC.
The Sandbox announced earlier this week that it has teamed with TIMEPieces
The two will create a new location in TIME’s land in The Sandbox based on Times Square.
The metaverse also disclosed a collaboration with Ethereum-based augmented reality platform metaverse. Over, via which the two will start a treasure hunt in all of New York City.
In order to boost user interaction, The Sandbox also put up a physical booth in New York City. The metaverse has tieups with several major media franchises.
The Sandbox Alpha, a play-to-earn effort, will debut in November, according to a metaverse announcement that was also made.
The NYC conference increased NFT volumes.
The excitement surrounding the NFT conference boosted trading activity in several NFT projects. After the project revealed a sequel, Doodles 2, daily volumes of Doodles increased by about 400 percent.
An continued decrease in the cryptocurrency market, which has negatively impacted NFT pricing this month, was partially mitigated by the increasing interest.
Although well-known players like Bored Apes and CryptoPunks have reported significant price drops, they are still trading reasonably steadily when compared to the overall cryptocurrency market.