fxs_header_sponsor_anchor

Sandbox takes over the metaverse as demand for virtual real estate explodes

  • Data from Nonfungible.com suggests that users have spent over $100 million for digital real estate on Sandbox. 
  • The Sandbox is the single largest metaverse collection in terms of the sale of assets over the past week. 
  • The Sandbox has unveiled its Alpha NFT collection "Gears and Ducks," two more will be dropped on December 13 and 20. 
  • Analysts predict that Sandbox's price could recover from the crash, rallying towards its all-time high. 

Sandbox, a metaverse token, has gained popularity as one of the top-performing cryptocurrencies of 2021, offering 12,500% gains since the beginning of 2021. The cryptocurrency has recovered from the flash crash over the weekend. 

Sandbox dominates the metaverse, offering high gains to holders

As metaverse gains popularity, investors spent over $100 million to acquire virtual real estate on the Sandbox platform. US rap legend Snoop Dogg recently sold his digital estate on Sandbox, attracting users to the platform. 

Sales of the top 5 NFT metaverse collections were for virtual land in the Sandbox metaverse. 

The platform has become the single largest metaverse collection based on data from Nonfungible.com. The platform unveiled an NFT collection associated with its Alpha event, "Gears and Ducks," on December 6. 

Two more collections, "Creator Fund Collection" and "Factions," are scheduled for launch on December 13 and December 20, respectively. 

Trades on Sandbox's collections totalled  $70.5 million for over 4,433 assets, making it the single metaverse collection to rake in the highest dollar amount. 

Analysts are bullish on Sandbox price. @TraderScarpa, a cryptocurrency analyst, has evaluated the Sandbox price trend and predicted a bullish scenario. The analyst considers $4.5 as strong support. 

The first test of the $4.5 level was bought up fast, which is considered a good sign. @TraderScarpa expects the price to consolidate between $4.5 and $7.7 before moving higher. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.