Why The Sandbox Cryptocurrency Is Up Today

Over the last 24 hours, the price of The Sandbox (CRYPTO: SAND) cryptocurrency traded nearly 5% higher as of 12:07 p.m. ET today after Dubai's virtual asset regulator said it plans to put a virtual headquarters in the Sandbox metaverse.

The Sandbox is a virtual gaming world run on the Ethereum blockchain network, where users can create non-fungible tokens (NFTs) to use in the virtual world.

Today, Dubai's Virtual Assets Regulatory Authority (VARA), which seeks to promote Dubai as an international leader for virtual assets and to develop a digital economy in Dubai, announced that it plans to create a metaverse headquarters in the Sandbox.

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Source Fool.com