The commemorative The Sandbox, is at over $5.50 – a 40 per cent jump in just 24 hours.
The Sandbox is metaverse platform.
A cryptocurrency called SAND which was unknown until a month ago has been enjoying a period of strength.
The Sandbox is at just over $6.62 million – that is three times what it was two weeks ago. Its price had preliminarily been stuck at around $0.75 before it started spiking at the end of October. But what exactly is happening, and why is it suddenly surging?
What You Need to Know
What’s SAND? Beach is The Sandbox’s commemorative. Pix Owl developed the Sandbox a grounded virtual world.
It was firstly a mobile and PC game. However, IMOCA Brands acquired it in August 2018. They it brought to the blockchain. It has some parallels with Minecraft. In both games, players use coffers similar as water, soil, lightning, lava, beach, glass to make, and can interact with others. Players will encounter tasks, similar as making a certain material using other coffers.
They can also save and upload their worlds to a public gallery. It says: “By combining the power of DAOs and NFTs, The Sandbox creates a decentralized platform for a thriving gaming community.”
Why is its price soaring? Beach had a dramatic price jump at the end of October. This coincided exactly with Facebook publicizing it was changing the name of its overarching company to Meta.
CEO Mark Zuckerberg also made a number of commentaries about the metaverse. It is a digital macrocosm that allows humans to interact as an incorporation, letting people work, shop, learn and play in virtual reality spaces without being physically together. “I hope we’re recognized as a firm that works in a different universe,” he said at Facebook’s regular meeting.
The fact that one of the world’s largest corporations values the metaverse sparked interest in platforms like The Sandbox.
What Lies Ahead?
Investment point The Motley Fool is bullish about SAND’s long- term prospects. A report stated, “Investors seeking crypto assets with high potential for portfolio-altering gains are opting for possibilities like Beach.
It presently has a request capitalization of ‘only’$4billion. Still, this is also a snappily thrusting cryptocurrency, having broken the top fifty list in terms of cryptocurrencies by request capitalization moment. “Given the outsize interest around the metaverse space, and the counteraccusations that blockchain- grounded metaverse games could have in this terrain, this is a cryptocurrency world whereby investors appear to be ready to jump on.”
Still, it also comes with a significant threat, particularly a lower-known coin.
Should I invest?
People invest at their threat, and British fiscal authorities do not regulate cryptocurrencies. All crypto investments are complex, but lower coins and meme coins like Shiba Inu are particularly unpredictable, and you should prepare to lose everything you invest.