- 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.
$SAND (USDT) approaching throwback to level of interest on daily pic.twitter.com/fdkg2U6VtL
— Cheds (@BigCheds) December 28, 2021
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.
$SAND: I would be careful about the current area, danger zone approaching IMO. Expecting resistance around $7.50-8 pic.twitter.com/7OHjS7rBQm
— Altcoin Sherpa (@AltcoinSherpa) December 26, 2021
@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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Ethereum dips slightly amid Renzo depeg, BlackRock spot ETH ETF amendment
Ethereum (ETH) suffered a brief decline on Wednesday afternoon despite increased accumulation from whales. This follows Ethereum restaking protocol Renzo restaked ETH (ezETH) crashing from its 1:1 peg with ETH and increased activities surrounding spot Ethereum ETFs.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective (INJ) price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
US intensifies battle against crypto privacy protocols following crackdown on Samourai Wallet
CEO Keonne Rodriguez and CTO William Lonergan of Samourai Wallet were arrested by the US Department of Justice (DoJ) on Wednesday and charged with $100 million in money laundering on a count and illegal money transmitting on another count. This move could see privacy-focused cryptocurrencies take a dip.
Near Protocol Price Prediction: NEAR fulfills targets but a 10% correction may be on the horizon
Near Protocol price has completed a 55% mean reversal from the bottom of the market range at $4.27. Amid growing bearish activity, NEAR could drop 10% to the $6.00 psychological level before a potential recovery. A break and close above $7.95 would invalidate the downleg thesis.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?