Watcher. According to Guru data, after a stunning 700% growth, metaverse coin The Sandbox (SAND) has managed to collect around $3 billion more in trading volume.
Metaverse coin projects are the latest trend of 2021
Cryptocoin. com, the famous rap artist Snoop Dog had a mansion built in the virtual world of Sandbox. The rebranding of Facebook as “Meta” in the past weeks has also led the cryptocurrency market to “metaverse coin” focused projects. The overall increase in popularity of virtual world tokens is followed by the uptrend of GameFi and Metaverse.
Watcher now. According to Guru, major investors are interested in metaverse coins like Sand, and whales’ total investment in this space reaches $160 million. Together with these, the increase in total transaction volume reached 50%. The price action of SAND failed to follow the rapid trading activity on the token and has been trading at the range border since the last time ATH reached it on November 25.
Many factors support the rise
Sandbox is a virtual reality project built on Blockchain technology. Besides gamifying cryptocurrencies and tokens, it combines DAO principles and NFT technology to create a decentralized gaming experience. According to the project’s official website, it aims to introduce Blockchain into the mainstream by applying the technology in the gaming industry and creating a successful “play-to-win” model. Faced with large inflows of funds and rapid market capitalization in recent days, SAND is actively used within the ecosystem as a utility token for bot creators and gamers. Cryptocoin. com
You can find other metaverse coin articles that we prepared as here. SAND was trading at $6.4 at the time of writing.