SAND Jumped 12% Following The Sandbox's Acquisition of Uruguayan Tech Firm

The Animoca Brands subsidiary – The Sandbox – purchased the Uruguayan technology company Cualit, aiming to accelerate the progress of the Web3 ecosystem and blockchain industry.

Prior to the deal, The Sandbox has worked closely with Cualit and its Co-Founders – the Perez brothers – for more than a year. After signing the agreement, the South American organization was renamed The Sandbox Uruguay. Still, the asset has been significantly affected by the recent crypto crash and stands far away from its all-time high of around $7.50 registered last November.

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