Multimedia UA (OTCMKTS:UAMM) The stock is up on Thursday after the company announced plans for a metaverse game in sandbox (CCC:Sand-dollar).
Sandbox is based on Ethereum (CCC:ETH-USD) and provides users with a virtual space to build their worlds. UA Multimedia is buying a virtual plot within the Sandbox to build its metaverse game.
According to a company press release, this will make it focus on the Sandbox Play-to-Earn game. This will allow it to monetize the game, as well as offer NFT game assets that players can buy and sell.
Michael Lajtay, CEO of UA Multimedia, said the following about the metaverse movement that sent UAMM stock soaring.
“We are excited to ramp up our metaverse initiative starting with Sandbox. Sandbox has a unique and versatile ecosystem on which we can build on and monetise. We now have a number of promising crypto projects in our pipeline that should elevate UA Multimedia to another level and allow us to continue operations The most important acquisitions and projects.”
UA Multimedia doesn’t plan to stop with just the Sandbox game. The company also indicates that it is considering a presence in decentralization (CCC:mana-dollar). The company wants to diversify its metaverse operations to reach a wider range of clients.
UAMM is getting extra attention today with its metaverse gameplay. This has about 16 million of his stock in transfer as of this writing. For comparison, the company’s average daily trading volume is close to 3.1 million shares.
UAMM stock is up 26.3% as of Thursday morning.
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