- The Sandbox native token has hit a new all-time high as metaverse tokens rally.
- The blockchain-based virtual world combines DAOs and NFTs through games on its platform.
- Analysts have noted capital rotation out of memecoins and into metaverse tokens like SAND.
- The token has rallied over 73% over the past week ahead of metaverse Alpha launch.
After four years of development, Sandbox is ready to launch its Alpha P2E initiative on November 29. The virtual world platform has secured over 50 partnerships to build play-to-earn games and boost the utility of SAND tokens.
SAND hits new all-time high as it prepares to open its metaverse to players
The Sandbox ecosystem is popular among NFT creators and players that build, share and monetize their games on the platform. The platform’s native token SAND, saw its price rally earlier this week.
Sandbox recently announced the launch of its metaverse after completing four years of development. The platform has secured partnerships with Crypto Kitties, Sheep, Atari and Shaun to build play-to-earn games on Sandbox’s metaverse.
The launch of Sandbox Alpha is scheduled for November 29, it is a 3-week long event. Players can participate in Sandbox’s play-to-earn games through the Alpha Pass, an NFT ticket that grants access to the exclusive launch event.
Get ready for The Sandbox Alpha!
— The Sandbox (@TheSandboxGame) November 16, 2021
Launching November 29th
Anyone can experience the Alpha hub and three experiences
5,000 Alpha passes giving access to content, NFT, and 1,000 SAND!
Get all details below https://t.co/63iAl5MMmS pic.twitter.com/OiXmbAWYN2
Sandbox’s native token has decoupled from the top cryptocurrencies and posted a nearly 75% rally over the past week. SAND hit a new all-time high of $4.64 earlier today.
Proponents consider that capital is rotating out of Bitcoin to metaverse tokens in the current bull run.
In the days leading up to the launch event on November 29, analysts have predicted that SAND would cross $5 and enter price discovery. Cryptocurrency analysts at “Mind Math Monkey,” a YouTube channel believe that SAND will cross $5 in the ongoing bull run.
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Is Altcoin Season here as Bitcoin reaches a new all-time high?
Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.
Shanghai court confirms legal recognition of crypto ownership
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.