|

Sandbox positioned at the apex as the metaverse network plans migration to Polygon

  • The Sandbox metaverse revealed plans to migrate to the Polygon Network, an Ethereum scaling solution. 
  • Sandbox is on track to launch a DAO in 2022, allowing landowners in the metaverse to determine the game's future. 
  • Analysts are bullish on Sandbox price, fueling a rally in the metaverse token. 

The Sandbox game prepares for migration to the Polygon network, an Ethereum layer-2 scaling solution that could minimize transaction costs in the metaverse. The launch of Sandbox's DAO could let players govern the metaverse. 

Sandbox price prepares for a rally ahead of migration to Polygon network

The Ethereum-based metaverse is based on virtual real-estate and NFT collectibles. Sandbox has finished its first Alpha playtests and prepares to hold more in 2022. This would be followed by a public release of the metaverse game. 

There is a spike in the number of active players in the Sandbox metaverse, and the rise in interest in crypto games fuels a bullish narrative for the token. 

Sebastien Borget, the co-founder and COO of Sandbox, said that the metaverse token is ready for players' community-owned, user-customizable games. Borget was quoted as saying, 

Every day, the map is different…[]... I feel like it's a digital nation—living and breathing. That's why it's exciting. It's culturally rich, it's global, and it's accessible.

@BigCheds believes that Sandbox price is approaching an area of interest. 

Over the past year, Sandbox price has posted over 15,663% gains. @AltcoinSherpa, a pseudonymous crypto analyst, believes that Sandbox resistance is at $7.5. 

@Hayess5178 believes that the Sandbox uptrend is strong and has a bullish outlook on the metaverse token. 

FXStreet analysts have evaluated the Sandbox price trend and predicted that the metaverse token is holding support while bears target $2. The gaming token is currently trading at $5.96. 

Author

Ekta Mourya

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.

More from Ekta Mourya
Share:

Editor's Picks

XRP extends recovery as on-chain activity grows
Ripple (XRP) ticks up and trades around $1.13 at the time of writing on Tuesday. This rebound aligns with a broader recovery in the cryptocurrency market, attributed to reports that mediators between the United States (US) and Iran are seeking a 10-day cessation of strikes to find a way back to the signed Memorandum of Understanding (MoU).
Ethereum Price Forecast: ETH continues July uptrend with 20% rise after triggering buy signal
Ethereum (ETH) has gained 3% on Tuesday, extending its July gains above 20% after key on-chain indicators highlighted a resumption of buying activity. The strong performance so far in July comes a few days after ETH triggered the Market Value to Realized Value (MVRV) Buy signal. ETH has been up by roughly 22% since the signal.
Chainlink becomes top 20 best performer, 3 reasons behind the move
Chainlink (LINK) has become the best-performing asset in the top 20 this week, leading every other major cryptocurrency. The cryptocurrency jumped 10.18% to $8.71, its highest level since early June. Three major factors explain the double-digit rise over the past week.
Crypto Today: Bitcoin, Ethereum, XRP extend rebound amid returning institutional capital inflows
Cryptocurrency prices extend a broad recovery, led by Bitcoin (BTC), trading above $66,000 at the time of writing on Tuesday. Ethereum (ETH) remains bullish above $1,940, after logging four straight days of gains. Meanwhile, Ripple (XRP) hovers around $1.13, building on the reclaimed $1.10 critical level.
Bitcoin’s potential recovery in the second half hinges on these 4 catalysts
Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.