Look at the recent prices for SAND, the coin for the NFT gaming metaverse platform Sandbox, and other metaverse players like Axie Infinity (AXS), and Decentraland (MANA) and there is a very similar volatile pattern.
There is also a similarity to bitcoin (BTC) and therein lies the issue with a decline in SAND's fortunes which currently are more dependent on the bitcoin factor than the seemingly unstinting enthusiasm for the metaverse.
Today (14 January) SAND is 42% off its all time high last November at $4.88. Axie is down 55% from its November high and MANA a mere 50% off its. BTC is down 35% over a similar period.
So, what is the Sandbox coin? Is the metaverse a busted flush on the online jackpot? Is SAND a cryptocurrency you should consider adding to your portfolio?
In this article, we look at recent SAND coin news and the latest price forecasts.
Sandbox attracts partners to NFT gaming platform
The Sandbox is a virtual gaming ecosystem running on the Ethereum blockchain and Unity Software. It operates a play-to-earn model, similar to the Axie Infinity metaverse, in which players can build, own and monetise their gaming experience using SAND, its utility token.
The Sandbox ecosystem features Voxedit, an asset creation tool for producing non-fungible tokens (NFTs) that can be used in-game, an NFT marketplace for creators to trade their assets, and the SandBox Game Maker, which allows anyone to build, share and monetise 3D games on the Sandbox platform. Holders of the SAND token can vote on key decisions related to the platform via a Decentralised Autonomous Organisation (DAO).
Sandbox was launched in 2011 by Pixowl. Co-founded by entrepreneurs Arthur Madrid and Sebastien Borget, Pixowl was acquired by Hong Kong-based venture capital fund Animoca Brands in 2018.
According to Sandbox’s whitepaper: “In the current game market, the centralised ownership and control of user-generated content limits creator rights and ownership. Central control over the trading of virtual goods created by players restricts them from generating fair value for their creations. Compounding this, it can be difficult to prove creative ownership of works, especially as content is copied, altered, and built upon.
The $93m investment round will allow developers to scale up their growth strategy and operations, and it demonstrates Softbank Vision Fund’s interest in next-generation Internet (Web3) and decentralisation.
“Adding new strategic partners such as Liberty City Ventures and Galaxy Interactive will also benefit The Sandbox’s global reach and expand the network of brands, IPs, and gaming studios interested in entering an open metaverse focused on a player-owned economy and [user-generated content] UGC,” they tweeted.
2/ Adding new strategic partners such as Liberty City Ventures and Galaxy Interactive will also benefit The Sandbox’s global reach and expand the network of brands, IPs, and gaming studios interested in entering an open metaverse focused on a player-owned economy and UGC— The Sandbox (@TheSandboxGame) November 2, 2021
Sandbox’s creation tools in beta mode have more than 30,000 active users each month. Its virtual real estate lands have more than 12,000 unique owners in the community. The total value of the virtual world exceeds $2bn. More than 165 partners, including rapper Snoop Dogg, The Walking Dead, the Smurfs, Deadmau5 and Care Bears own LAND.
The Sandbox is supporting creators by offering them 95% revenue sharing and reinvesting 50% of all SAND revenue streams, now worth more than $100m, giving grants to artists, creators and players.
SAND price rallies on investment news
Sandbox uses three different tokens – LANDS, ASSETS and SAND – to create a circular economy between players, creators, curators and LAND owners. SAND is an ERC-20 token. It’s used to purchase goods and services in the marketplace.
SAND is used in several ways:
Access the Sandbox platform. “Players spend SAND in order to play games, buy equipment and customise their Avatar character. They can collect SAND through gameplay. Creators spend SAND to acquire ASSETS, LANDS, and through Staking. LAND sales drive demand for SAND to purchase LANDS. Artists spend SAND to upload ASSETS to the Marketplace and buy Gems for defining Rarity and Scarcity,” the whitepaper says.
Governance. SAND is also a governance token that allows holders to exercise voting rights on key features of the roadmap and grants to creators. Holders of SAND can delegate their voting rights to other players.
Staking. Users can stake SAND to generate passive revenues on LANDS. This is the way users can get gems and catalysts, which they need for ASSET creation. Sandbox operates a fee capture model in which 5% of transaction fees in SAND tokens are allocated with 50% to the staking pool as rewards and 50% to the Foundation.
Foundation. The Foundation supports the Sandbox ecosystem by providing grants to incentivise content and game creation.
On 12 November, NFT developer GreenPark said it was partnering with community NFT platform Grow Your Base and development studio MVStudios to expand GreenPark into the Sandbox game. “In Q1 2022, we’ll invite our NFT holders to help shape and experience this exciting new expansion,” GreenPark said.
On 1 December Sandbox announced it was selling virtual plots adjacent to the plot where rapper Snoop Dogg was suppposedly building his mansion - the Snoopverse.
On 3 December it was revealed that someone had paid 149ETH (around $620,000) for the “Metaflower Super Mega Yacht” NFT which was created for The Sandbox metaverse by Republic Realm, as part of its Fantasy Collection.
On 17 December Sandbox announced the NFT creation and exchange site, Uniqly had built a bridge between physical products and metaverse wearables. This it said "is paving the way in the digital fashion aspect of The Sandbox".
WE’RE COMING TO THE SANDBOX. ⚔️????⚽️— GreenParkNFT (@greenparknft) November 12, 2021
We’ve partnered with @growyourbase_ and @_MVStudios to expand GreenPark into @TheSandboxGame!
In Q1'2022, we’ll invite our #NFT holders to help shape and experience this exciting new expansion.
Join the community: https://t.co/J3TdpsRg4j pic.twitter.com/tyv6NrPhKJ
What’s the outlook for the SAND price after the latest rally? Is there potential for some upside, or could the price fall further back? Let’s review the latest price predictions.
Sand coin price prediction: will the Sandbox crypto trade higher?
At the time of writing (14 January), technical analysis from CoinCodex was neutral with SAND trading at $4.9. There were 13 oscillator indicators giving bullish signals and 11 bearish signals. CoinCodex’s SAND crypto price prediction expected the token to rise to $5.03 by 19 January.
The Sandbox coin price prediction from Wallet Investor is offering a bullish one year forecast of $14.06. Looking further ahead its five year outlook is for $51.3.
The Sandbox (SAND/USD) forecast from DigitalCoin was less bullish, predicting that the token’s price could average $8.06 in 2023 and climb to an average of $10.79 in 2025. By 2029, it expected the price to hit $20.7.
It’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
We recommend that you always do your own research, and consider the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. And never invest more than you can afford to lose.
Follow Capital.com to stay on top of the market’s latest news.
At the time of writing, forecasting sites predicted that the price of the SAND crypto token could rise in the coming years. But it is important to keep in mind that cryptocurrency volatility makes it difficult to make accurate predictions. Forecasting sites can and do get their predictions wrong, so you should do your own research to make informed trading decisions. Keep in mind that past performance is no guarantee of future returns.
Cryptocurrencies are highly volatile assets, making them riskier than other forms of investment. Whether the SAND coin is a suitable investment for your portfolio depends on your risk tolerance and personal financial circumstances. It is important to do your own research before investing in any asset. And never invest more than you can afford to lose.
Read more: Axie Infinity (AXS) price prediction: The Metaverse ‘play to earn’ game of the crypto universe
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