The Sandbox’s native token, SAND, rallied from eight-month lows on Thursday after the metaverse announced a partnership with Lionsgate Studios.
SAND jumped as much as 20% to $0.9715 after the announcement, although it eventually pared some gains to trade at $0.8647. The news helped SAND break a seven-day losing streak amid weakness in the broader crypto market.
Lionsgate is one of the largest independent studios in the United States, and owns properties such as Hellboy, Rambo, and The Expendables- which are now set to be featured in The Sandbox.
The metaverse will now set up an area dedicated to Lionsgate media properties, called “Action City.”
Lionsgate partnership brings more licensed interest in The Sandbox
Under the partnership, Lionsgate’s “Action City” will feature popular licensed properties belonging to the studio, as well as its long-time collaborator Millennium Films.
