Sandbox has been trending on social media because of some interesting developments. The cryptocurrency currently stands at a price level of $3.38 while the daily price movements do not suggest any major changes. It is the thirty-eighth largest cryptocurrency in the market with a capitalization of $3.089 billion and a major player in the metaverse realm.
What is Sandbox?
Sandbox is a virtual world based on the blockchain technology. It is a game based on the play-to-earn model that aims on keeping the gamers engaged along with the community. The digital realm of the network allows users to build unique assets in the game which can, then, be bought and sold as non-fungible tokens – creating a source of revenue for the users.
Why is SAND hot right now?
FaceBook – now Meta – started off a major trend in the cryptocurrency market with its rebranding and commitment towards the digital realm. This has set off a chain reaction in the market and coins in the metaverse realm have been surging beyond expectations. Sandbox has been one of the most sought-after tokens in the metaverse realm as it is a major player because of its blockchain-based game and NFT collection.
SAND coin is one of the hottest coins right now because Warner Bros. Pictures – one of the largest film production companies in the world – has decided to pledge its support to the network by buying a beachfront property in the digital world of Sandbox. The property will be turned into musical-themed park and concert venue. This is not the first time the project has bagged a partnership with a top name in the entertainment industry. Popular artist Snoop Dogg has also utilized the digital world for entertainment but no doubt, Warner Bros. is a hallmark moment for SAND.
Moreover, Sandbox being one of the major players of the metaverse realm has started off its Accelerator aimed at startups in the digital world. A $50 million incubator program has been launched by the network and each year approximately $250,000 will be invested in around forty startups.
According to the estimates of Wallet Investor, the cryptocurrency is expected to be operating at a price level of $11 in one year’s time. While critics of Sandbox and the metaverse, in general, do question the utility of the technology, there can be a huge potential for returns in SAND and similar tokens.
