SAND token price jumps on news of PwC buying land in The Sandbox

Sandbox (SAND) prices jumped 23% in a day on Thursday. Image from Medium.com
Sandbox (SAND) price jumped 23% in a day on Thursday. Image from Medium.com

Key SAND Token Takeaways:

  • Sandbox (SAND) price jumped over 28% on Dec 23.
  • Accounting firm PwC’s Hong Kong unit purchased land in the digital reality game, sparking its rally.

NEW DELHI (CoinChapter.com) — SAND, the native token of the play-to-earn blockchain-based game The Sandbox, registered an upward rally of over 28.4% between low ($5) to high ($6.4) levels on Dec 23.

Although prices pulled back towards the close of trade, SAND token ended the day with nearly 24% gains. Thursday’s rally pushed the Sandbox token to $6.4, only $2.4 behind the token’s ATH of $8.8. However, it seems traders have started to take profits, as the SAND price is in the red on Friday.

At present, SAND prices face resistance at $6.8. Further uptrend could push prices to $7.8, while strong fundamentals could see prices reach near the Sandbox token’s previous ATH. Meanwhile, trend-based momentum oscillator MACD charted a bullish crossover for SAND token on Dec 23.

SAND price on the daily charts with MACD.
SANDUSD token on the daily charts with MACD. Source: Tradingview.com

A bullish crossover is a technical pattern that occurs when the MACD line (difference of 12-day and 26-day MACD) moves above its signal line (9-day EMA of MACD). The Sandbox token’s momentum has been moving towards bullish regions for some time now, as the contracting MACD histogram bars denote.

Also Read: SAND hits another record high on Sandbox Metaverse Alpha launch FOMO.

In addition, SAND token has immediate support from its previous 18-day resistance at $5.7. Sandbox’s 26-day EMA also acts as support near the $5. Moreover, the Sandbox token is bullish across all time horizons, as prices trade above its short, medium, and long-term MA lines.

SANDUSD on the daily charts with RSI.
SANDUSD on the daily charts with RSI. Source: Tradingview.com

The relative strength index for SAND is currently neutral, clocking 61.55 on the daily charts.

PwC Comes To The Sandbox

Pricewaterhouse Coopers (PwC), a multinational professional services network, has acquired a LAND site in the Sandbox metaverse. LAND is an NFT representing a plot of virtual real estate in the game. However, the announcement shared by Animoca Brands, the firm behind Sandbox, didn’t specify which plot PwC bought or for how much.

However, recent data shows LAND has sold for over $10,000 per plot. In detail, PwC is a global network of firms in 156 countries, employing more than 295,000 people. PwC’s Hong Kong division acquired the Sandbox real estate.

The metaverse is open for business. We welcome PwC Hong Kong to experience how The Sandbox fosters new immersive experiences and ways for brands to connect with customers. It’s an exciting time – and PwC is at the forefront of this emerging frontier.

Sebastien Borget, COO of The Sandbox, said in the announcement.

The onboarding of professional services firms like PwC paves the way for other organizations interested in joining Web 3.0. In addition, PwC can help firms less familiar with Web 3.0 technology by providing advisory services.

Also Read: Adidas apologizes for “Into The Metaverse” NFT minting slug.

William Gee, a partner at PwC Hong Kong, believes the Metaverse offers organizations new possibilities through ‘innovative business models.’ He further added that the firm plans to advise clients on the best ways of embracing the Metaverse to suit their business needs.

In other news, Sandbox’s Alpha event ended this week, and the game has already announced an upcoming Alpha season 2. However, the announcement did not mention any specific timeline for the event.

At the time of writing, SAND token was trading at $6.2, down 1.8% on the day.

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SAND token, SAND token price jumps on news of PwC buying land in The Sandbox

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