UAMM stock: UA Multimedia allows Metaverse to be moved by digging into the sandbox

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Multimedia UA (OTCMKTS:UAMM) shares are rising on Thursday after the company announced plans for a metaverse game Sandbox (CCC:SAND-USD).

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The sandbox is based on Ethereum (CCC:ETH-USD) and offers users a virtual space to build their worlds. It’s UA Multimedia purchase of a plot of virtual land inside the sandbox build your own metaverse game.

According to the company’s press release, this will focus on the Sandbox Play-to-Earn game. This will allow him to monetize the game, as well as introduce NFT game assets that players can buy and sell.

Michael Lajtay, CEO of UA Multimedia, said the following about the metaverse shift, which is making UAMM shares higher.

“We are excited to strengthen our metaverse initiative, starting with the sandbox. Sandbox has a uniquely versatile ecosystem on which we can build and monetize. We now have a number of promising crypto projects in the pipeline, which should raise UA Multimedia to another level and enable us to continue acquisitions and major projects.

UA Multimedia does not intend to stop just playing Sandbox. The company also points out that it is considering a presence in Decentraland (CCC:MANA-USD). The company wants to diversify its metaverse operations to reach a wider range of customers.

UAMM is getting extra attention today with its metaverse game. The latter owns about 16 million shares of this writing. By comparison, the company’s daily average trading volume is closer to 3.1 million shares.

UAMM shares rose 26.3% on Thursday morning.

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InvestorPlace offers daily market coverage and today is no different! Some examples of stories you can watch for Thursday include what it is Taiwanese semiconductor (NYSE:TSM) in Delta Air Lines (NYSE:DAL) shares are growing, as is the morning’s biggest stock movements before the market. You can find out all about these topics at the following links!

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