Somnium space cubes (CUBE) price prediction: Will CUBE rebound?
Virtual reality (VR), the metaverse and non-fungible tokens (NFTs), became increasingly popular last year, and the trend continues in 2022. Blockchain-based virtual reality platform Somnium Cube has witnessed a growing user adoption and a corresponding increase in CUBE token price.
The Somnium space cube (CUBE) coin skyrocketed in 2021 and hit its all-time high of $69.07 on 16 November 2021. However, at the time of writing (10 February), the CUBE token was trading nearly 89% down at $7.74, according to CoinMarketCap.
Somnium competes directly with other popular metaverse platforms such as Decentraland (MANA), The Sandbox (SAND) and Axie Infinity (AXS). Additionally, it has secured several key partnerships, including Sony, to let users build fully embodied 3D avatars of themselves, and another with Gemini, to launch its native CUBE token on the Gemini exchange.
Can the CUBE token’s price rebound as it scales up its metaverse infrastructure? Let’s take a look at the project’s fundamentals and developments to get a clearer view of a somnium space price prediction.
What is somnium space cubes?
Somnium Space is a decentralised and social virtual reality world driven by blockchain technology. It enables anybody to purchase land, create or import artefacts, utilise avatars and scripts, and monetise their experiences.
Somnium is described in its white paper as a cross-platform ecosystem that supports everything from smartphone apps to virtual desktop reality. It allows people to engage with a user-created, ever-expanding, transparent ecosystem. It is compatible with all major virtual reality PC VR headsets, including Oculus, HTC VIVE, HP and Valve Index.
Moreover, the platform has developed a Unity SDK toolkit that lets users upload avatars and landscapes to their virtual territories inside Somnium Space. Its SDK lets gamers tweak environments, scripts and animations to customise their experience.
Furthermore, finger tracking is available inside Somnium Space to enhance immersion. Moreover, it is soon expected to launch smell features from hardware such as multisensory masks or fans.
Somnium’s native cryptocurrency is CUBE, an ERC-20 token. It is used to make in-game purchases and as a means of exchange between players for several experiences inside the game's virtual environment, such as visiting cinemas and amusement parks or driving racing vehicles and teleporters.
Additionally, artiss can sell CUBE tickets, allowing people to enter user-generated museums or attend performances. Eventually, producers can create and develop engaging arcade games for users to pay using CUBE tokens.
Somnium space cubes coin news and price drivers
The project has undergone a number of significant milestones and developments, which may drive the somnium space token price.
Investment from Polygon, Winklevoss Capital & Vinny Lingham for Somnium’s Creators Fund
Somnium space announced a virtual event, Creators Fund, in February 2022. The event will be funded by Polygon, Winklevoss Capital and Vinny Lingham, and the first round of it will be held in March 2022.
Somnium CUBEs worth over $1m (£737k) will be awarded as grants to Somnium creators or direct investment to the winning startups. The creators will have the chance to talk with and pitch their preferred investors in virtual reality and receive funding as a reward.
ANNOUNCING new investors joining Somnium #CreatorsFund in 2022!
— Somnium Space (@SomniumSpace) February 6, 2022
Welcoming Winklevoss Capital @winklevosscap, Polygon @0xPolygon and Vinny Lingham @VinnyLingham!
1,000,000$+ in $CUBE budget is available for Creators and Startups! #VR #NFT
Read & Apply➡️https://t.co/OaBbYGjneU pic.twitter.com/laowqaSWlY
Somnium Space Connect 2021
Somnium hosted Somnium Space Connect 2021 in Prague in December 2021, where it announced several partnerships and advancements.
It disclosed the specs for its own virtual reality headset in collaboration with Vrgineers, a virtual reality training system, to ensure that hardware institutions do not form bottlenecks and control user experience and data.
Additionally, announcements were made concerning the Karma system, which will commence in 2022 and award users for constructive activities inside the metaverse.
Cross partnership with FTX exchange
Somnium announced a partnership with FTX, a cryptocurrency exchange, in December 2021, making the Somnium Space NFT collection accessible on the FTX NFT Marketplace.
Additionally, FTX Exchange established an official headquarters inside Somnium’s virtual space as part of this collaboration. This building can be accessed using the Somnium WebXR client from any device.
Somnium Space LIVE - Building official @FTX_Official #VR HQ in Somnium on XL Parcel #Metaverse #NFTs $CUBE #VirtualReality https://t.co/YvGpeLgseS https://t.co/GxFQFaiKbQ
— Somnium Space (@SomniumSpace) December 10, 2021
Partnership with TESLASUIT to integrate sensory sensations inside Somnium’s VR platform
Somnium announced a strategic partnership with TESLASUIT in July 2021 to incorporate sensory feelings into its virtual reality platform. TESLASUIT is a full-body XR suit that serves as a human-to-digital interface.
Both projects have thoughtfully created experiences that any owner of a Limited Edition Somnium X TESLASUIT DK1 can feel and enjoy while wearing a TESLASUIT immersed in the Somnium Space VR reality.
These features include the authentic sense of rainfall, realistic impacts when playing shooting games and the ability to feel the touch of other players.
Partnership with MAXIMA to provide virtual real estate services
In April 2020, Somnium collaborated with MAXIMA, a Czech real estate business, to introduce the virtual reality real estate market to a broader audience.
As an outcome of this collaboration, MAXIMA began renting Somnium Space virtual reality plots, offered on-demand architectural services to VR landowners, and connected elite sellers and buyers inside the Somnium metaverse.
Additionally, MAXIMA acquired virtual land pieces to construct its digital headquarters, equipped with displayed villas, inside the Somnium Space virtual reality universe.
CUBE/USD price analysis
The rising interest in the metaverse and virtual reality has benefitted the CUBE token, and it has returned a ROI of 7,667% since its inception, according to CoinMarketCap (as of 10 February).
Based on the earliest available price data from 2021, the CUBE token declined from $4.87 on 30 April to $2.18 on 23 May, a fall of 55% in less than a month. It further bottomed to the all-time low of $1.74 on 27 June.
After the dip, the CUBE token traded sideways and reached $2.01 on 22 September. A strong bull rally pushed the price to the all-time high of $69.07 on 16 November, a significant rise of 3,336% from the September level. However, the glory was short-lived as the CUBE token lost more than 81% of its value and fell to an intraday low of $13.46 the next day.
Bulls reignited the rally, and the CUBE token reached $23.63 on 20 November before collapsing again to $13.03 on 11 December. It further decreased and closed the year at $9.98.
The CUBE token has been trading in a bearish market since the start of 2022 and made a 90-day low of $4.18 on 22 January. It spiked again and made a 30-day high of $8.72 on 7 February, an increase of more than 108% from the January low.
At the time of writing (10 February), CUBE was trading at $7.74 and had a market capitalisation of $98m.
Somnium space cubes (CUBE) price prediction: Targets for 2022, 2025 and 2030
The short-term CUBE price prediction from CoinCodex remained neutral, with 11 indicators giving bullish signals and 11 bearish signals, as of 10 February 2022.
The 5-day to 21-day simple moving averages and exponential moving averages were giving bullish signals, while the 100-day SMA and EMA were bearish. The Hull Moving Average (HMA) gave a ‘sell’ signal, but the volume-weighted moving average (VWMA) signalled a ‘buy’. The relative strength index (RSI) and the moving averages convergence divergence (MACD) kept neutral.
According to a short-term somnium space crypto price prediction by CoinCodex, it could reach $8.71 by 15 February.
Meanwhile, several algorithm-based forecasting services shared longer-term somnium space predictions as of 10 February:
Wallet Investor estimated the average price of CUBE to reach $20.37 by the end of 2022 and $61.24 by the end of 2025. Its five-year CUBE/USD forecast suggested it could hit $75.91 in February 2027.
According to Digital Coin's somnium space coin price prediction, CUBE could hit an average of $10.85 in 2022, $13.12 in 2023, $16.42 in 2025 and $34.37 in 2029.
Similarly, Price Prediction believed the average price of CUBE could hit $11.37 in 2022, $36.25 in 2025 and reach $236.96 in 2030.
When looking for CUBE price forecasts, bear in mind that analysts and algorithm-based predictions can be wrong. Their CUBE projections are based on fundamental and technical studies of a cryptocurrency’s past performance. Past performance is no guarantee of future results.
It’s essential to do your research and always remember your decision to trade depends on your attitude to risk, your expertise in the market, the spread of your investment portfolio and how comfortable you feel about losing money. You should never invest money that you cannot afford to lose.
FAQs
Is somnium space cubes a good investment?
Somnium is a virtual reality platform that competes with other established platforms like Decentraland (MANA) and The Sandbox (SAND). Its price action has been very volatile lately, and the token lost 89% from its November all-time high (as of 10 February). Whether the CUBE token is a good fit for your investment portfolio depends on your circumstances and risk tolerance. So you should estimate the level of risk you are ready to take before investing. And never invest money that you cannot afford to lose.
How high can somnium space crypto go?
According to the CUBE prediction from Price Prediction (as of 10 February 2022), it could go as high as $351.03 by 2031.
Will somnium space cubes (CUBE) hit $100?
Algorithmic forecasting tools including Wallet Investor, Digital Coin and Price Prediction (as of 10 February) suggested the coin had the potential for gains. Price Prediction estimated that CUBE token could exceed $100 by 2028.
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