Saudi Arabia and The Sandbox reach an agreement, details unknown but this pushes SAND price by about 30% towards $1 milestone.
According to a February 7 LinkedIn post, Saudi Arabia and the well-known blockchain game The Sandbox have signed a contract. The Sandbox’s co-founder and chief operating officer, Sebastien Borget, said that the Digital Government Authority of Saudi Arabia had inked an MOU with his blockchain-based virtual world initiative (DGA).
The agreement was struck in Riyadh, Saudi Arabia, during the Leap Tech Conference, which is presently going on. Apart from the notion that the two parties would collaborate on “metaverse” or VR aims, Borget’s announcement had few details regarding the nature of the arrangement.
Following the announcement, SAND, the native token of The Sandbox, increased by over 30%, going from $0.71 to $0.93 in a matter of hours. According to market capitalization, the coin is presently one of the top 45 largest crypto assets.
The blockchain organization Animoca Brands is the owner of The Sandbox. Prior to now, it has agreements with other illustrious partners, including banks like HSBC and Standard Chartered, well-known brands like Adidas and Atari, and figures from the music industry like Snoop Dogg and Warner Music Group.
