SAND Token Gains 20% In Wake Of Metaverse Announcement

The SAND Token gains 20% in the wake of a new metaverse announcement, as tech companies announced the formation of Metaverse Standards Forum so let’s read more today in our latest altcoin news.

The Sandbox COO said that an acquisition by Meta will not happen and now the SAND token gains 20% after tech companies like Meta and Microsoft annoucned the formation of something called Metaverse Standards Forum which is up by 20%. SAND gained 19% and similarly, over the same span, MANA gained almost 9% to $1.02.

Would @Meta purchasing a virtual world like @TheSandboxGame make you bullish?

— Messari (@MessariCrypto) June 25, 2022

Decentraland and Sandbox are Ethereum-based games where users can purchase virtual land plots for millions of dollars and can benefit massively if the metaverse expands in more ways than one predicted. Each can also be a takeover target for an established tech giant and rumors swirled as well. The co-founder and COO of The Sandbox Sebastian Borget said only, “nah.”

The stated goal of the Metaverse Standards Forum was announced on Tuesday and includes Sony and Alibaba and fostered the coordination and cooperation among hundreds of companies that work to establish themselves if the metaverse becomes bigger. Many in the Web3 community remained skeptical. Danny Green the general manager of the Meebits DAO said:

 “At the end of the day, we’re fighting for a decentralized future and these are corporations that are representing shareholders.”

The founder and chairman of Animoca Brands Yat Siu, previously called META’s ambitions “digital colonialism.”

As recently reported, Sandbox surged after Elvis Presley, “The King” entered the metaverse in a collaboration with Elvis On-chain hoping to bring the king of rock and roll into the virtual world. The partnership includes Elvis Presley Enterprises and the Web3 studio Runi it Wild that spawned the project this year. In addition to the Sandbox, the partners include Dappraft, Decentraland, Voxel Architects, and Meta key. To celebrate Elvis Presley’s birthday, the Genesis Key NFTs will be minted as an all-access pass on the Elvis On-Chain metaverse that will launch on June 1. The Sandbox is creating Elvis avatars with partners like Voxel Architects and they will be used in the new metaverse space which will be a meeting place for Elvis fans across the world.