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Sandbox’s native token, SAND, jumps 30% in a week.
Sandbox is a virtual world for NFT-based gaming experiences.
Holders of SAND tokens can benefit from the long term.
Metaverse-related tokens are currently leading the recovery of the crypto market. The sandbox (SAND / USD) surged 30% last week, while Decentraland’s MANA (MANA / USD) surged 13.44% over the same period. data From CoinMarketCap.
Sandboxes are a blockchain-based virtual world where players can monetize their gaming experience with non-fungible tokens. Sandboxes allow gamers to develop digital assets as NFTs, bring them to market, and integrate them into online games.
The daily price chart below shows that SAND is trading at $ 1.27. Tokens are currently showing bullish momentum, with 20-day and 50-day moving averages added to the support. The RSI stays under the overbought zone.
Monthly price outlooks show that SAND remains resilient. Despite the long-term bearish market, tokens lost only 0.78% during this period. However, Metaverse-based tokens have declined by 78% to date. SAND peaked at $ 8.4 last November.
Source: TradingView
Sandboxes are gaining popularity for their public land sales as large companies move to get some of their technology.On the platform Secure multiple partnerships with brands, including Celebrities like Adidas, Atari, and Snoop Dogg.
The future of the Metaverse is reportedly a decentralized, immersive space for Web3 advances. Recently, Sandbox COO and co-founder Sebastian Borget comment The metaverse is a virtual area controlled by the user, which is an advantageous opportunity.
Borget believes that the Metaverse will grow to have job opportunities that are not currently available in the physical world. The sandbox has a virtual parcel of limited land. Use cases for immersive spaces include entertainment, fashion and retail.
The value of SAND is linked to the long-term adoption of Metaverse technology. Tokens derive their value from being immersive technology utility tokens. Another factor to consider is the growth of NFTs, digital collectibles used as in-game items. With this in mind, holding a SAND can be beneficial in the long run given the current bear market.
