- 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.
Getcha SNOOPVERSE pass n join my hood in tha @TheSandboxGame . We breakin Metaverse barriers !! Even a snoop avatar whitelist!!
— Snoop Dogg (@SnoopDogg) December 2, 2021
Hop in… nowhttps://t.co/ckEOApHVTy pic.twitter.com/hFXIDt90Vn
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.
⚙️ Gears Collection - Crafted to endure the dangers of the #Metaverse, these gears will be your best ally in the wild!
— The Sandbox (@TheSandboxGame) December 6, 2021
https://t.co/X71dnazPCe pic.twitter.com/9UPYeg5zzt
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. 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
Ripple on-chain metrics show bullish signs amidst legal struggle with SEC, XRP eyes recovery
Ripple made a comeback above $0.48 on Tuesday and hovers above that level in Wednesday’s European session. Ripple on-chain metrics such as transaction volume and Network Realized Profit/Loss have turned bullish, supporting a recovery in the altcoin.
Bitcoin price falls amidst German government transfers, miners activity
Bitcoin (BTC) extends correction on Wednesday and hovers around $61,000 after finding resistance near the $64,000 level on Monday. Recent on-chain data indicates heightened selling activity from Bitcoin miners early in the week.
Crypto Today: Bitcoin erases gains from end of June, Ethereum declines while Ripple holds
Bitcoin wipes out gains from the last week of June and falls below $60,000 on Wednesday. Ethereum and top altcoins ranked by market capitalization erased gains as the inflation outlook worsened. Ripple holds on to recent gains and hovers above $0.48 on Wednesday.
Three reasons why altcoins could shake off losses this week
On-chain data from Santiment shows that altcoins are currently in the opportunity zone, or generating buy signals. The top three altcoins in the buy zone are Basic Attention Token (BAT), Chromia (CHR), and Highstreet (HIGH), per Santiment.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.