Is Sandbox Coin A Good Investment? Or its just a big Hype ?
Play-to-earn blockchain games and metaverse projects are among the hottest topics in the crypto space. These two initiatives allow users to participate in virtual gaming while having opportunities to earn real money.Having recognized the unique nature of these metaverse blockchain projects, many crypto enthusiasts and traders seek to invest with the view to earning incredible returns on investment.One metaverse project that has been generating a lot of attention in recent weeks is The Sandbox. Similar to other top metaverse projects, this project allows users to access a virtual world with opportunities to play virtual games while earning real money.The article will discuss sandbox’s long-term prospects as a result of recent events surrounding the project. We will also consider the factors behind the recent increase in the price of the Sandbox coin and how these factors will impact the project’s long-term prospects. Nevertheless, before we discuss any of these points, let us briefly discuss the features that make Sandbox coin unique.
What is Sandbox Coin ?
Sandbox coin is an Ethereum-based blockchain project developed by Pixowl, a gaming studio based in San Francisco, California. The Sandbox runs on Unity software, and the platform utilizes non-fungible tokens (NFTs) and Metaverse to provide users with access to virtual gaming, among many other services. In addition to allowing users to create their virtual worlds and Non-fungible tokens (NFT’s), the platform also facilitates social interaction.
Non-fungible tokens (NFT’s) created in The Sandbox can be integrated into the online game or added to the other NFT marketplaces for sale. The Sandbox native token SAND has seen tremendous growth in value over the past few weeks because of its functionality and acceptance. The growth also impacted many other Metaverse linked tokens, resulting in a significant increase in their value.In comparison with many other popular games, The Sandbox offers players complete freedom in how they monetize their virtual experiences.Using the platform, users will have access to a unique virtual world distinct from other metaverse games. The Sandbox service also contains user-generated gaming IPs, which further distinguishes it from similar platforms.To further enhance user experience on this platform, Pixowl integrated three core products and services for their users. A common feature with each of these products is that they offer users copyright ownership for any content created on the platform. This feature is possible because of the incorporation of blockchain technology and smart contracts on the platform.The first key product on the platform is called VoxEdit. Using this tool, users can create voxel models, quip them, and animate them for gameplay. All objects created on VoxEdit are tradable in The Sandbox marketplace, and they can be used as in-game assets in the metaverse.The native marketplace is the second distinctive product that sets Sandbox apart from other metaverse projects. In a similar fashion to other NFT marketplaces, this NFT marketplace allows users to publish, and sell their voxel models.The Sandbox Game Maker is the final key product that was incorporated by the Pixowl core team. With this game maker, developers and enthusiasts can build 3D games for free and without coding skills in The Sandbox metaverse.Sandbox has already formed partnerships with several high-profile individuals and corporate organizations. Some of these partners include US rapper Snoop Dogg, LG Technology Ventures, Samsung Next, The Walking Dead, The Smurfs, to name a few.
The factors behind the Sandbox Coin price increase
Over the past few weeks, Sand, the native token of the Sandbox metaverse, has seen its price value rise exponentially. There are several factors behind the growth of the token. Let us quickly review some of the factors behind the growth of the token in value.Finding the article interesting so far?..So answer…How many SAND coins are there?
One major factor contributing to this token’s growth is Facebook’s recent change of name to Meta. Shortly after the announcement, the value of the Sand token rose from $0.72 on October 27 2020, to $2.73 by October 30 2020.This announcement by Meta CEO Mark Zuckerberg also resulted in positive price increases for many other Metaverse tokens like Decentraland Mana, Floki Inu, Effinity token (EFI), to name a few. Most metaverse tokens reached new all-time highs following this announcement.The Sand token experienced a further rise in value after the Sandbox gaming platform raised $93m in investments to launch more products on its platform. The inflow of new investors saw the token price grow by 120% between November 1 2020, and November 3 2020. This increase saw the value of the token reach an all-time high of $3.45. Shortly after this, the token price hit a new all-time high at $4.61.The project continues to receive favourable reception among crypto traders and enthusiasts across the globe. As a result, the value of the token continues to experience a tremendous price increase. Currently, the token price is within the $4.2 range.Sandbox also announced the addition of new strategic partners like Liberty City Ventures and Galaxy Interactive during this period. Its partnerships with these brands aim at ensuring global accessibility to the Sandbox project. The second goal of these partnerships is to expand the list of brands, game studios, and IPs interested in joining the Sandbox metaverse.
Long Term Prospects Of the Sandbox Coin.
Most crypto traders worldwide believe that the Sandox token has turned parabolic, meaning its value will likely increase over the next few weeks and months. The Sandbox core team is also set to launch several new products soon, with many metaverse fans worldwide buzzing.Even our internal expert team did a full sandbox coin analysis taking several factors into considerations to come to a conclusion that Sandbox coin is here to stay.A prime example is the Sandbox Metaverse Alpha, which will launch on November 29. This project has been in development for four years and intends to offer users opportunities to earn from gameplay. This is highly bullish news that might flip the market cap of Sand thereby doubling the price to a high as $8 per token.The Sandbox also has several good projects that may boost the value of the Sand token over time. Due to the unique nature of non-fungible tokens that are tradable on the Sandbox marketplace, we expect to see more adoption of Sandbox by new users and investors in the nearest future. While we are optimistic about the growth of this project, we urge our readers to do careful research on this blockchain project before investing funds into the project.