Sandbox price: What is the value of SAND cryptocurrency and what do experts predict for its future value?
The token, which is issued by metaverse platform The Sandbox, is currently worth just over (dollar)5.50, representing a 40 percent increase in just 24 hours.
SAND, a cryptocurrency that was relatively unknown until about a month ago, has seen its value skyrocket.
The Sandbox token is currently worth just over (dollar)7.33 – three times what it was 10 days ago.
Its price had been stuck at around (dollar)0.75 until the end of October, when it began to spike.
Here’s everything you need to know about SAND and why it’s suddenly surging.
The Sandbox’s currency is SAND.
Pixowl’s Sandbox is a blockchain-based virtual world that allows users to create and explore universes.
It was originally a mobile and PC game, but Animoca Brands bought it in August 2018 and brought it to the blockchain.
It’s similar to Minecraft in that players can build with water, soil, lightning, lava, sand, and glass, and they can interact with other players.
Players will be given tasks such as creating a specific material from various resources.
Their worlds can also be saved and uploaded to a public gallery.
According to Coin Market Cap, “The Sandbox creates a decentralized platform for a thriving gaming community by combining the powers of decentralised autonomous organizations (DAOs) and non-fungible tokens (NFTs).”
SAND experienced a significant price increase at the end of October, coinciding with Facebook’s announcement that its parent company would be renamed Meta.
Mark Zuckerberg, Facebook’s CEO, also spoke about the metaverse, a digital universe that allows people to interact as avatars in virtual reality spaces without having to be physically present.
“Over time, I hope that we are seen as a metaverse company,” he said at Facebook’s annual conference. “I want to anchor our work and our identity on what we’re building toward.”
With one of the world’s most powerful companies investing so heavily in the concept of the metaverse, platforms like The Sandbox and Decentraland have sparked interest.
The Motley Fool, a financial website, is optimistic about SAND’s long-term prospects.
“Investors seeking cryptocurrencies with tremendous momentum and the potential for,” it wrote yesterday.
News summary from Infosurhoy in the United Kingdom.
Sandbox price: How much is SAND cryptocurrency worth, and what do experts think its future value will be?
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