2 altcoins, which are among the top 50 by market value, announced their new partnerships today. The news includes a metaverse launch and exchange partnership.
The Sandbox and Autograph partnership
Tony Hawk, one of the world’s most popular skateboarders, plans to build a skate park in the metaverse. The initiative, which will be completed in partnership with The Sandbox and Autograph, will also create NFTs that can be used in the skateboarder’s The Sandbox metaverse world.
Metaverses are one of the most suitable social spaces for athletes to have fun in virtual worlds and connect with professionals. To take advantage of this technology, popular skateboarder Tony Hawk has announced that he will set up a digital skatepark in the metaverse. The announcement came from Sandbox’s Medium account today.
BitGo and NEAR partnership
In other important news, cryptocurrency exchange BitGo announced its partnership with Near. Thanks to this agreement, BitGo now also supports NEAR token in its custody services. Nuri Chang, BitGo’s vice president of product, made the following statements about the partnership:
Due to the nature of our business, it’s really important to us to capture and support all the leading projects across the industry.
As part of the deal, BitGo will serve as the custodian of Near’s treasure. It will also keep the tokens in the company’s hot and storage wallets. BitGo could not reveal any details about the amount of NEAR it will hold.
Altcoin prices skyrocketed after the announcements
The Sandbox is the 36th largest cryptocurrency by market cap. At the time of the announcement, it was rising over 5%. With this acceleration, the SAND price surpassed the $1.4 resistance. It is currently trading at $1.4178. Despite this, the ATH level is still 83.14% away from $8.44.
NEAR’s reaction to the news reaches double digits. Following the announcement, the 25th largest cryptocurrency has gained 11% over the last 24 hours. NEAR is a layer one Blockchain that eliminates issues like congestion and high transaction costs. Earlier this year, it registered ATH at $20.42. However, since then, it has fallen by more than 75%.
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