Sky Mavis, the company behind Axie Infinity, is laying off 21% of its workforce as part of a strategic refocus. Laid-off Workers to Receive Job Placement Assistance Sky Mavis, the blockchain startup behind Axie Infinity, announced plans to lay off about 50 employees, or 21% of its workforce.

The Sandbox (SAND), a prominent player in the metaverse space, has caught the attention of crypto investors with a significant 53.39% surge over the last 24 hours, pushing its price to $0.6112. This sudden increase in price has been accompanied by an astronomical 557.67% rise in trading volume, now reaching $1.87 billion.

The firm's founder has stressed that the layoffs are not financially motivated.

The Sandbox has experienced a strong upswing over the past 24 hours to outperform major coins!

Bitcoin rally stalls as few altcoins lead the day's gains.

The Sandbox (SAND) doubled its price in a week, while Animoca Brands deposited 26M SAND tokens on Binance in the past 30 days.

Non-fungible tokens are gradually rebuilding momentum with MANA and SAND now soaring to new weekly highs.

The Sandbox (SAND) continued its bullish trend, hitting a new yearly high of $0.86 during Monday's early Asian session. However, it has since pulled back by 14%, trading at $0.76 at press time.

Story Highlights The live price of the Sandbox token is . SAND price could hit its potential high of $1.08 in 2024. Sandbox price with a potential surge could go as high as $5.69 by 2030. The crypto sphere turned over a leaf of its directory in the bygone year.

The Sandbox (SAND) token has broken its long-term downtrend with a 53.39% surge to $0.6112, accompanied by a 557.67% increase in trading volume to $1.87 billion and a 134.61% spike in open interest, suggesting strong market confidence in further upside potential.

SAND's breakout and bullish signals suggest the metaverse rally might be reigniting.

Sky Mavis is pushing for growth, and as part of this restructuring, it has downsized its workforce.

DOGE, XRP and XLM are the most traded cryptocurrencies on Upbit since Donald Trump's election victory. The latest activity points to a pivot toward metaverse tokens.

Axie Infinity creator Sky Mavis lays off 50 employees as part of broader efforts to adapt post-hack and market shifts.

With the broader market recovery, the altcoin segment has been set ablaze. In this heating demand, the Metaverse tokens are making a comeback. With Decentraland and Sandbox tokens surging nearly 200% in the past three weeks, the bull run is aiming for an extended rally.

Sky Mavis co-founder and CEO Trung Nguyen said resources freed up from the layoffs will be used in a new Axie Infinity game and other projects.

The GameFi and Metaverse sectors have taken charge of the next leg of the crypto market rally with The Sandbox (SAND) price gaining almost 100% in the last 2 days. Apart from SAND, other market players like Decentraland (MANA), Gala (GALA), and Axie Infinity (AXS) have also staged strong gains over the past week.

The non-fungible tokens (NFTs) sector has seen prolonged underperformance as trends such as meme coins, RWA, and AI dominate the cryptocurrency marketplace. However, the emerging bull run, where Bitcoin stares at the $100,000 milestone, has invigorated each sector. CryptoSlam data shows NFTs performed well over the past few sessions.

Sky Mavis cut 21% of its workforce to focus on core products, with the CEO claiming it wasn't due to financial issues. The post Axie Infinity Creator Sky Mavis Lays Off 21% as Part of Restructuring appeared first on Cryptonews.

Sky Mavis has laid off 21% of its workforce The web3 firm said the decision was not related to its finances.

The layoff reflects a strategic move to focus on its projects, including a new Axie Infinity game, according to its CEO.

For quite a long time, NFT space remained under shadows as the newly created space has dominated the crypto markets. Moreover, the rising interest of the market participants in memecoins had prevented the other segments of the crypto space to thrive.

As Bitcoin (BTC) closed the third consecutive week in the price discovery phase, the altcoin space gained significant bullish sentiment. During the past week, the altcoin market – led by Stellar Lumens (XLM), Decentraland (MANA), and The Sandbox (SAND), among others – registered palpable gains.

SAND, the token powering the metaverse platform The Sandbox, has seen a meteoric rise, surging 55% in the past 24 hours. This performance far outpaces leading assets like Bitcoin and Ethereum, which each gained just 1% during the same period.

This week's 'top cryptocurrencies to watch' are all from the gaming market segment: Sandbox, MANA and Axie Infinity.

Axie Infinity (AXS) and Smooth Love Potion (SLP) tokens have crawled back in the past few days as the ecosystem started to bounce back. The SLP coin was trading at $0.0035 on Friday, up by 65% from its lowest point this year. Similarly, the Axie Infinity coin was trading at $5.

SAND may be building momentum as key technical and on-chain signals pointed to a breakout.

Sandbox (SAND) gains momentum, with $0.50 in sight if it clears $0.35.

Amid bullish market sentiment, SAND is poised for a 30% rally as it forms a bullish pattern on the daily chart.

BBVA is launching a tokenized fund integrated into the Spanish securities regulator's sandbox. The fund will be open only to BBVA employees to research the benefits of applying blockchain technology to these applications.

ZA Bank, Hong Kong's digital bank, has launched a sandbox trial of its crypto trading service, aiming to provide retail investors with a regulated platform for virtual asset trading.

Amid confusing cryptocurrency market sentiment, the creator of The Sandbox (SAND), Animoca Brand, has gained notable attention from crypto enthusiasts due to its recent acquisition. On October 26, 2024, the blockchain transactions tracker EyeOnChain made a post on X (Previously Twitter) that Animoca Brand bought 20 million SAND tokens worth $4.95 million from Binance.

Despite a recent pullback, AXS is set for a strong recovery.

The semi-autonomous region of Tanzania is taking advantage of a sandbox regulatory framework adopted in July.

The Zanzibar government has introduced a blockchain sandbox program to encourage entrepreneurship and technological advancements. The program, powered by the Xinfin XDC network and designed by Ledgerfi IT solutions, allows startups to safely test their blockchain-based solutions within the National Blockchain Network.

Are NFTs making a comeback? Following the surge in BAYC's ApeCoin after the ApeChain launch, investment is now shifting towards Axie Infinity, The Sandbox, and emerging layer-2 blockchains.

Two popular tokens, Axie Infinity (AXS) and Sandbox (SAND), have seen significant price increases recently. This uptick comes as the entire crypto market experiences a rally, with Bitcoin testing the crucial price level of $69,000.

SAND's breakout could be a sign of a potential bullish reversal, one backed by greater activity.

New interest in crypto gaming has play-to-earn game Axie Infinity (AXS) up as bulls celebrate upside momentum. It's an outlook that's also catalysed interest in Dogizen (DOGIZ). This tap-to-earn game has captured investor attention with the first-ever Telegram ICO.

The crypto market has recorded a jump of ~2% in the past day, resulting in the Bitcoin price retesting its $69,000. Following this, the Metaverse and the gaming industry have regained momentum with many projects retesting their important resistance levels.

The DTCC aims to invite market participants to address pain points and let clients try DTCC products on their own use cases.

In a recent conversation with KMSmithDC, U.S. Congressman Byron Donalds stressed the importance of developing a regulatory sandbox for the crypto industry. Donalds described the industry as a “toddler” that is still young but has a possibility of growing.

Mysten Labs chief information security officer Christian Thompson told Cointelegraph that gaming is a playground for technologists to explore Web3.

AXS Unlock date - Oct 14th 2024 Number of tokens unlocked- 12.58 million AXS (4.66% of its circulating supply) Current Circulating Supply - 152.23 million million AXS Token distribution Staking rewards - 2.45M tokens (3.13%) Teams - 5.74M tokens (10.1%) P2E - 2.70M tokens (5%) Ecosystem - 1.69M tokens (7.81%) Source - cryptorank.

Significant token unlock events will take place this week - Arbitrum alone will unlock $51 million worth of tokens.

The Web 3 game Axie Infinity saw an increase of 11.34% of its staked AXS in one year. From October 1st 2023 till October 2024, the amount of staked AXS has gained 5,956,719 AXS.

Sandbox Alpha season 4, Day 5 included the experience through the labyrinth of Club XYZ with the music of DJ Galantis. The event is based on players exploring different stages and uncovering secrets.

SAND could soar by 15% to reach the $0.305 level if it closes a daily candle above the $0.264 level.