The NFT gaming industry is developing and putting more and more resources into their gaming project developed for blockchain and metaverse. Sandbox is a metaverse game that is suddenly gaining popularity, and its token name is $Sand.
The Sand coin suddenly jumped from 1.6$ a token to 7.08$ due to its involvement in the metaverse.
What is Sandbox?
The Sandbox is an open-world metaverse game where players can create, play and earn by playing it on the Ethereum blockchain. Initially, they had their game on android and ios platforms with a combined 40 million total downloads. But seeing that success, the game founder thought of bringing it on the blockchain with the primary goal of giving ownership back to users and destroying the hype of existing games such as Minecraft and Roblox.
What is Sand?
SAND is the ERC-20 token used within Sandbox as the basis for all transactions. Sand is the primary token used by gamers to play the game, and even developers and publishers use the same token as the main currency throughout the sandbox ecosystem.
So to earn more Sand, you can use their staking mechanism or sell NFT that you have created or acquired by playing the game.
Sand Market Analysis
The Sand coin is currently 7.08$ a token with a market capitalization of 6.4 billion dollars as on coin market cap, which was around 1.6$ a token and a market capitalization of 1.3 billion dollars. The reason for this sudden jump was its involvement with the metaverse, much Facebook.
It has a limited supply of sand coins, around 3 billion, and also, due to the launch of the alpha hub for windows, Sand coin is gaining more popularity.
Sand Price Prediction
It has currently rejected the channel resistance. It needs to break out for the continuation of the bullish trend. Else, we might see a correction from here to the lower channel support.
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Sandbox has a great future in the metaverse game until Facebook launches something like this and other competitors in the metaverse gaming thing.
So this was all about the sandbox coin, do your research before taking any step, thank you for reading the article, and have a good day.
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Nothing in this article is financial advice, and you should only invest in the market you believe is suitable for your portfolio.