A new event in The Sandbox called City Jam: Paris is offering multiple rewards to creators from a shared pool of 30,000 SAND tokens. As part of this event, artists can create Parisian neighborhoods and landmarks and showcase them on a Paris estate.

Also read: Play the Sandbox Events and Win From a Reward Pool of 100,000 $SAND

Creators and artists can build landmarks like the Notre Dame Cathedral, Eiffel Tower, Grand Palais, The Palace of Versailles, and many other notable landmarks on the platform for a chance to win. Overall, participants can win rewards from a pool of 30,000 SAND tokens.     

How will The Sandbox distribute the prizes?

The 30,000 SAND belongs to a shared reward pool. Out of this pool, 3,000 SAND tokens will be distributed to the top 9 creators on the leaderboard. These creators will also be published on The Sandbox Paris Estate.

Those in 10th—15th place on the leaderboard will receive 500 SAND tokens each and will be hosted on The Sandbox’s LANDS. In an official post, The Sandbox has also announced that an additional 500 tokens will be awarded for experiences showcasing various neighborhoods and monuments of the city.

Also read: The Mystery Society migrates to the Immutable ecosystem

To reduce redundancy, creators have been requested to disclose their projects in The Sandbox creators forums. At the same time, the team has also encouraged artists to collaborate, although this is not necessary. To be eligible for these rewards, the creators need to have an eligible wallet with KYC completed.

TSBCreators will pick winners based on public votes

The event started on 7 June, and submissions will stay open until 27 June. Once the submission period ends, the winners will be determined based on public votes and a DAO vote. The final announcement of the winners will be made on 26 July. To take part in the event, participants can submit their builds via The Sandbox game maker gallery.

NEW: The Sandbox City Jams! ✨

A new type of Game Jam has arrived. Bring real cultures to life in the Metaverse, one city at a time.

💎 Earn prizes
🇫🇷 Build & represent Paris, France
🏅 WIN the community's 💙

Learn more 👉 https://t.co/wZB16DtSvV#TSBGameJam #GameJam #UGC pic.twitter.com/lAzJSHEDNs

— The Sandbox Creators (@TSBCreators) June 7, 2024

However, participants must follow certain rules. First, all the games should be created using The Sandbox Game Maker. Participants are also encouraged to use the latest version of the software.

Creators are allowed to make updates to their entry throughout the entry period and after the submission deadline. Furthermore, creators can submit more than one entry, but each game cannot be larger than 1×1.

Cryptopolitan reporting by Shummas Humayun

Bitcoin (BTC) finds itself in a curious position, caught in a tug-of-war between the bullish conviction of whales (large investors) and the jittery hands of short-term holders. The world’s top cryptocurrency recently surged to within a hair’s breadth of its all-time high, fueled by a buying spree from whales. However, lurking beneath the surface are potential threats that could derail this rally.

Whale Appetite Increasing 

Big investors have been accumulating Bitcoin at an alarming rate, close to $1 billion worth per day according to some estimates. This insatiable appetite suggests a strong belief in Bitcoin’s long-term potential. Analysts point to this whale activity as a bullish indicator, fueling optimism that Bitcoin can break past its previous highs of around $71,000.

While you are scared, whales are buying #Bitcoin like never before. pic.twitter.com/QAVXpdWER4

— Vivek (@Vivek4real_) June 8, 2024

The sentiment isn’t isolated to the big leagues. Retail investors, the average person on the street, are also joining the party. The number of addresses holding between 0.01 and 1 BTC has increased, indicating a broadening of interest in the cryptocurrency. This confluence of whale and retail investor enthusiasm, representing millions of users, could propel Bitcoin to new heights.

Profit Taking And Short-Term Jitters

As the price climbs, a double-edged sword emerges – the MVRV ratio. This metric indicates how much profit holders are sitting on. With Bitcoin nearing its peak, the MVRV ratio has climbed significantly, suggesting many investors are now in profit territory. This profitability can be a blessing and a curse. The allure of locking in gains could entice some holders, potentially millions based on address growth, to sell, creating downward pressure on the price.

Related Reading: Cardano Bloodbath? Sell-Off Raises Fears Of Imminent ADA Price Drop

Adding another layer of uncertainty is the plight of Bitcoin miners. These digital miners dedicate significant computational power to verifying Bitcoin transactions and are rewarded with newly minted coins. However, recent times have seen a decline in miner revenue, with some reports suggesting a drop from $53.48 million to $48 million in just a few days.

If this trend continues, miners may be forced to sell their Bitcoin holdings to stay afloat. This influx of additional coins on the market could further exacerbate selling pressure and hinder the current rally.

Meanwhile, according to the latest Bitcoin price prediction, Bitcoin is expected to rise by 28%, reaching $89,300 by July 10, 2024. The market sentiment is bullish, supported by a Fear & Greed Index reading of 72, indicating strong greed. Additionally, Bitcoin has recorded 16 green days out of the last 30, showing a consistent upward trend with a 4.16% price volatility over the same period.

The high number of green days and manageable volatility levels suggest a stable market, reinforcing the bullish outlook. This environment appears conducive to further price increases, aligning with the prediction of a significant rise. The sentiment indicators and recent price performance both point to continued optimism among investors.

Featured image from Treehugger, chart from TradingView