Coinbase to consider the possibility of SAND listing

The exchange has also published instructions on how to buy the native token of The Sandbox metaverse via its Coinbase Wallet

20.05.2022 - 12:30

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2 min

What’s new? Cryptocurrency exchange Coinbase is considering the native token of The Sandbox (SAND) metaverse for a potential listing on the platform. This is stated on one of Coinbase’s official Twitter accounts. In addition, instructions on how to buy the token using Coinbase Wallet have appeared on the exchange’s website. It is reported that the asset can only be purchased for ETH.

Instructions for buying SAND on Coinbase

What is The Sandbox? It is a metaverse in the sandbox genre, in which users can create virtual worlds and quests, as well as in-game items that can later be sold. The project was developed by Pixowl Studios and released in 2012. In 2018, Sandbox was bought by Animoca Brands and began working on a blockchain version. For 2022, it is a virtual world powered by Ethereum.

The Sandbox has the native token SAND, following the publication of the potential listing on Coinbase, the value of the asset rose by 16% per day. As of May 20, SAND is trading at $1,34 (according to Binance).

What happened before? Dubai’s Virtual Assets Regulatory Authority (VARA) announced the establishment of its virtual headquarters at The Sandbox metaverse. According to the head of the Dubai World Trade Center (DWTC), Helal Saeed Almarri, a “unit” in the metaverse would make the UAE the first jurisdiction to enter the virtual platform.

Hong Kong’s fifth-largest bank Standard Chartered Bank (SCBHK) also reported a partnership with The Sandbox. Standard Chartered Group’s innovation arm bought virtual land in the Mega City district. SCBHK became the first bank to acquire digital real estate.

Japanese video game developer and publisher Square Enix revealed plans to remake its old RPG Dungeon Siege in The Sandbox. According to the company’s representatives, players would be able to buy plots of land and equipment in the form of NFTs and create their own “adventures.”

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