The upward trend in SAND, the native cryptocurrency of the blockchain-based virtual world The Sandbox, gained momentum after a tweet from the German sporting goods manufacturer appeared to confirm a relationship between the two companies.
- The token has rebounded 25% in the past 24 hours, hitting a record high of over 47 and increasing its weekly profit to 70% according to CoinDesk data.
- Adidas, which recently ventured into the Metaverse with the introduction of POAP or proof of attendance log in its adidas CONFIRMED app, tweeted on Tuesday about the development of a so-called “adiVerse” in cooperation with The Sandbox.
- The sporting goods company appears to have bought a piece of land in The Sandbox’s metaverse, as determined by crypto Twitter and seen in the image below.
- SAND is up more than 600% since social media giant Facebook announced a change to its company name to meta on October 29th.
- The token has also benefited from the highly anticipated play-to-earn metaverse event, The Sandbox Alpha, which is scheduled for three weeks from November 29th to December 30th.
- Other gaming and metaverse tokens like ENJ, ILU, YGG, and DVI are up over 40% to 90% this month, far outperforming Bitcoin.