PwC Hong Kong pours capital into Sandbox, purchases digital plot pushing price higher
- PwC Hong Kong has purchased digital real estate on Sandbox, price is rallying in response to the news.
- Sandbox successfully completed Alpha season 1 and is gearing up for season 2 in an effort to stay relevant in the metaverse.
- The metaverse token has partnered with Powder Heroes to turn the best moments from Alpha season 1 into NFTs.
- Analysts have predicted another leg up in Sandbox based on the recent price trend.
PwC Hong Kong has purchased digital real estate on Sandbox in the latest metaverse push. The news of the purchase has fueled a bullish narrative for Sandbox price. The metaverse token has posted 8% gains over the past 24 hours.
Sandbox price rallies in response to new digital plot sale in the metaverse
Sandbox, the virtual metaverse that is home to several brands like Adidas and influencers like Snoop Dogg building experiences and storefronts for users, has attracted institutional investment inflow.
PwC Hong Kong has purchased a digital plot of land for an undisclosed amount in a mysterious location in Sandbox’s metaverse. Though the information is not publicly available, the institutional investment inflow has fueled the Sandbox price rally.
Sandbox price has posted early 8% gains since the news, and analysts have predicted a continuation of the metaverse token’s uptrend.
@AltcoinSherpa, a pseudonymous cryptocurrency analyst, is bullish on Sandbox. Based on his analysis, the analyst has predicted a second leg up in the metaverse token’s price rally.
$SAND: This chart looks excellent IMO. Metaverse pump #2 coming soon? I think this is a good passive swing trade. #SAND pic.twitter.com/hyHRvhTyjV
— Altcoin Sherpa (@AltcoinSherpa) December 22, 2021
Interestingly, after completing a successful Alpha season, the metaverse token partnered with Powder Heroes and offered users NFTs of the best moments from the first season. Sandbox is currently launching season 2 of Alpha to welcome more users and gamers to its metaverse.
FXStreet analysts believe that Sandbox price is holding on thin support while bears target the $2.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
