Token

The Sandbox

Million

<ul> 
 <li>Around 71M tokens were released to the team as per the tracker.</li> 
 <li>SAND is now trading at $0.3904, down 1.15% as per data from CMC.</li> 
</ul> 
A total of 332,000,000 SAND tokens, or around 16% of the total circulating supply of the digital asset, have been unlocked by <a href="https://thenewscrypto.com/the-sandbox-coo-dismisses-secs-claim-of-sand-being-a-security/" target="_blank" rel="noopener noreferrer nofollow">The Sandbox</a>. At the moment of unlock, the tokens were valued at around $133 million. 
Token Unlocks, a tracker that keeps tabs on vesting schedules, reports that 71M tokens were released to the team, 37.5M to advisors, 96.8M to the business reserve, 24M to strategic sale purchasers, and over 103M to participants in the seed sale. Tokens held by these individuals may now be traded freely between buyers and sellers. 
<h3 class="wp-block-heading" id="h-bears-dominate-the-prices">Bears Dominate the Prices</h3> 
Since token unlocks unfreeze liquidity and pumps it into the open market, they are often quite pessimistic for the values of digital assets. For the last month leading up to the unlock schedule, the <a href="https://thenewscrypto.com/big-move-in-sand-before-sandboxs-134m-token-unlock/" target="_blank" rel="noopener noreferrer nofollow">SAND</a> token has been on a downward trend. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full"> 
 <img decoding="async" width="661" height="356" src="https://thenewscrypto.com/wp-content/uploads/2023/08/SAND_1D_graph_coinmarketcap.png" alt="" class="wp-image-80665" srcset="https://thenewscrypto.com/wp-content/uploads/2023/08/SAND_1D_graph_coinmarketcap.png 661w, https://thenewscrypto.com/wp-content/uploads/2023/08/SAND_1D_graph_coinmarketcap-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/08/SAND_1D_graph_coinmarketcap-150x81.png 150w" sizes="(max-width: 661px) 100vw, 661px"> 
 <figcaption class="wp-element-caption">
 Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
 </figcaption> 
 </figure> 
</div> 
The cryptocurrency was trading at roughly $0.45 on July 15th. After that, it plummeted to where it is now, at $0.3904, down 1.15% as per data from <a href="http://coinmarketcap.com" target="_blank" rel="noopener noreferrer nofollow">CMC</a>. Unlocks for the next batch of SAND tokens are scheduled for February 14 next year. By then, over 205 million tokens will have been released and distributed among the company’s employees, reserves, and advisors. 
While this was going on, The Sandbox was steadily introducing new users to the metaverse. On July 28 the business announced a partnership with the <a href="https://www.britishmuseum.org/" target="_blank" rel="noopener noreferrer nofollow">British Museum</a> to increase public access to museum exhibits. Players of The Sandbox may now make use of the museum’s resources to learn about art, culture, and history. 
Highlighted Crypto News Today: 
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$133 Million Worth of SAND Tokens Unlocked by The Sandbox

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