SAND is a token of the platform The Sandbox. Its current price is around $0.9298 by the time of writing, with a low of $0.5833, and it has a market cap of 1.3 billion dollars.
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What is The Sandbox?
SAND is the native cryptocurrency of The Sandbox, which is an Ethereum-based metaverse game. It allows users to buy, use and build on custom land in a 3D environment. The players themselves on all items.
Animoca Brands, the company behind The Sandbox game, raised $93 million for its Series B funding round.
The Sandbox is the third-largest blockchain-based metaverse. It allows people to create, share, and monetize their assets and gaming experiences. The platform enables people to own & play with their assets, build things or be part of a game in which other players have bought the land.
What is SAND?
SAND is the coin of The Sandbox platform, which is around $0.9298 by the time of writing, with a low of $0.5833. It reached $8.44, and its current ranking is #37, according to CoinMarketCap, with a market cap of 1.3 billion dollars.
Sand tokens are used for various transactions that take place as part of gameplay. These transactions include purchasing LAND, interacting with user-generated content, and staking them to participate in DAO governance.
SAND Coin Market Analysis: Market Sentiment
SAND has a total supply of 3,000,000,000 coins worth around $0.9298 with a market volume of 210 million dollars, whereas the market capitalization is 1.3 billion dollars at writing.
The Sandbox metaverse comprises LANDs, each being a creative sandbox owned by players to create and monetize their gaming experiences.
When the company announced the sale of LANDs to the public, it turned out that around 23% of the map had been sold out in minutes, amounting to over 1 million dollars.
Every LAND is a unique token that can be traded on the Ethereum blockchain (ERC-721). In addition, players create the ASSET token to use the ERC-1155 standard. This mainly serves the Sandbox Game Maker.
SAND Price Prediction
In the long term, there is a very good chance that owning SAND tokens will be a profitable investment. As the cryptocurrency community becomes more involved with the metaverse, the price of SAND will continue to grow and make great profits for decades.
On the 4H timeframe, the price action of $SAND/USDT is moving inside the horizontal support zone. If it breakdown the support, it can go downwards and again bounce from the descending channel support trendline.
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Closing Thoughts
Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.
