SAND/USD has weakened from its recent highs above $4.8, registered on February 07, 2022, to $2.63, while the current price stands at $3.21.
Players can monetize their gaming experiences
The Sandbox is a community-driven platform built on the Ethereum network that enables its users to explore, purchase and create structures that can be monetized.
Thi vision of this project is to offer a deeply immersive metaverse in which players will create virtual worlds and games collaboratively and without a central authority.
In this way, players can monetize their gaming experiences and have true ownership of their creations as non-fungible tokens (NFTs).
The current game market has limitations like centralized ownership and content control, which restrict players from generating fair value for their creations.
The Sandbox aims to overcome these limitations, and it is important to say that all players can create digital assets (NFTs), upload them to the marketplace, and drag-and-drop them to create game experiences with The Sandbox Game Maker.
SAND is the native token of the Sandbox platform, and it serves as the basis for transactions. SAND is an ERC-20 token, which means that it can be traded with other tokens on the Ethereum blockchain.
Players can spend SAND to play games, buy equipment, or customize their Avatar characters, while creators can spend SAND to acquire assets.
SAND is a governance token that allows holders to participate in Governance decisions of the platform, and this token can also be used for staking, which allows for passive revenues.
The Sandbox has united forces of an incredibly vibrant community, many important projects already collaborated with Sandbox, and the most popular ones include Adidas, Snoop Dogg, Soft Bank, Samsung, Polygon, and Wedbush.
On March 3, 2022, The Sandbox metaverse game has surpassed 2 million registered users, and the Sandbox team added:
As the community increases in terms of the number of creators, players and ASSETS exchanged in the marketplace; there might be an increased need for SAND within the ecosystem. Therefore, while the total supply of SAND is fixed, the initial amount of SAND offered will provide a scarcity effect reducing the SAND available per capita and therefore fostering demand.
Bears control the price action
The Sandbox (SAND) was a bad performer during the last several months, and technically looking, it still remains under pressure.
SAND has weakened from its recent highs above $4.8, registered on February 07, 2022, but if the price jumps again above $4 resistance, it would be a signal to trade SAND.
The next price target could be around $4.5 or even $5; still, if the price falls below $3 support, it would be a strong “sell” signal.
Summary
The Sandbox is an online gaming community creation platform built on the Ethereum blockchain that aims to make a deeply immersive metaverse in which players will create virtual worlds and games collaboratively and without a central authority. SAND was a bad performer during the last several months, and technically looking, it still remains under pressure.
The post The Sandbox (SAND) price prediction after February sell-off appeared first on Invezz.
from Market Analysis – Invezz
