Market Analysis of The Sandbox – Alpha Seasons 1, 2 & 3

Sandbox’s 10-week Alpha Season 3 ended on November 1st. As promised, below is comparative data and analysis for his three Alpha seasons to date.

Elsewhere you can find an analysis of the season in terms of games, players and/or rewards earned, but here one landanalyze the impact on the LAND market.

All Alpha Seasons offered a Play-2-Earn incentive for Alpha Pass owners. Alpha Passes can be earned by holding a LAND, participating in Seasonal Raffles, participating in Social Contests, or acquiring OpenSea.

Alpha S 1

alpha season 1 After four years of development, it was launched on November 29, 2021 and ran for 22 days. Coinciding nicely with Facebook’s rebranding to Meta a month ago, The Sandbox has instantly become one of his most popular blockchain games in the world.

7.5 weeks from Facebook rebranding to end of AlphaS1 of the sandbox The most explosive period of growth ever. Looking at the season itself, the number of LAND caps and LAND holders increased by 46.8% and 8% respectively in just 22 days, with an average daily volume of 830 ETH.

Notably, $SAND reached ATH’s $8.44 just four days before the start of the season, down 34% after adjusting for 22 days.

Alpha S2

by the time alpha season 2 On March 3rd, SAND’s value and market cap saw a major correction, while The Sandbox’s LAND cap had just reached ATH of 379,546 ETH a week ago.

The recent market surge in sandboxes has been dramatic, and their popularity in projects has skyrocketed. So while the number of LAND holders was still growing, the rate was slowing, and it will take even longer for the market to realize that this is far worse than the fix.

The market was going down. The average price of his LAND on AlphaS2 was less than a quarter of AlphaS1 sales, but 0.45 ETH higher.

This time, the season included double the experience, granting full access to both Alpha Pass owners and non-owners (perhaps taking lessons from previous seasons). Besides, it gave the player an extra week of his game time to enjoy the experience.

Nonetheless, deteriorating market conditions were a major problem, with AlphaS2 surpassing AlphaS1’s success in the LAND market, despite a spike in trading volume on the kickoff day of the season, the highest trading volume in two weeks. I couldn’t even get close.

Alpha S3

alpha season 3 It was our biggest, most accessible, most challenging and longest season to date. We made a low on the first day (–200,265.38 ETH in ETH terms). Alpha Season 1 on November 29, 2021

TSB AlphaS3 Market Overview
AlphaS3 had to contend with a bear market, but a LANDholder-only staking program launched on September 22nd that briefly boosted volume and helped restore market cap.

Zooming out on 10 weeks of AlphaS3 in the context of the last 12 months reveals a few things.

First, the start of the season failed to stem a further dangerous decline in the LAND market, which was pointed out by the continued drop in LAND caps and average prices.

Second, if the current bear market isn’t bad enough, the drop in token prices (ETH dropped 29% and SAND dropped 17% in the 11 days from pre-merger to post-merger) or average price drops could also bring buyers closer. never gathered. . that is, LANDholder exclusive staking program It kicked off on September 22nd and triggered a surge in volume and sales, including a $3M SAND delicious incentive, leading to activations across key metrics for the first time since July.

One metric impacted across 10 weeks of AlphaS2 was the number of LAND owners. Holder numbers he peaked at 22,262 on May 18 and declined to 19,596 by the first day of the season. And in his first four weeks (August 24th to September 21st), LAND saw a slight increase in unique owners, up 0.22% to 19,716.

However, as soon as the staking program was launched, the numbers plummeted. From September 22nd to the end of the season, the number of holders he had decreased by 9%, lowest since JanuaryThe staking program reminded us of the truth about who bought LAND during AlphaS3. That’s because existing holders have strengthened their positions, not new investors in the sandbox. In his 10 weeks of the season, unique holders have dropped his 8.4%.

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