Sandbox price consolidates, analysts predict further drop in price
- Sandbox has entered multiple partnerships in preparation to create a “megacity” in the metaverse.
- Sandbox has collaborated with over 165 partners and institutions to unveil its metaverse.
- The metaverse project is preparing for a new land sale on January 13, 2022.
- Analysts have predicted further consolidation in Sandbox price as the metaverse token plunges.
Sandbox is one of the major GameFi projects that posted over a thousand percent in gains in the last quarter of 2021. Analysts have predicted further losses in the metaverse project.
Sandbox price could continue downtrend
After posting massive gains in the last quarter of 2021, the GameFi token Sandbox is on a downtrend.
The project has entered into partnerships with multiple brands like The Walking Dead, Snoop Dogg, Adidas, CryptoKitties, Atari, Care Bears, The Smurfs, PWC, Hong Kong, and the South China Morning Post.
The Sandbox has announced the launch of the Megacity region. The virtual world’s announcement of the new region would mark the beginning of the official sale of land early next week. The announcement reads,
To celebrate the new partners, The Sandbox will launch a new LAND sale on January 13, 2022, that will allow players to purchase choice sports near the LAND’s of the partners announced today.
Analysts have noted that Sandbox was launched in a bear market, and the altcoin offered investors over 400 times. @LadyofCrypto1, a crypto analyst and trader, notes that not all bear markets are alike; however, projects like Sandbox, Axie Infinity, Rune have offered between 400 to 2000 times returns.
5/ -- BEAR LAUNCHES cont --$SAND $AXS $RUNE and others are examples of projects that launched in bear markets and returned 400x to 2000x for investors.
— Lady of Crypto (@LadyofCrypto1) January 6, 2022
Not all bear launches make it, but setting aside capital to buy these launches is smart. Key is to be patient and pick well. pic.twitter.com/v5yV9xeses
@MacnBTC, an analyst and trader, predicted a huge unlock around January 13, 2022. The analyst explains that this could negatively impact the GameFi token’s price.
prob wise to be short on $SAND this month,
— Mac (@MacnBTC) January 4, 2022
huge unlock coming 13 Jan ish
and no, it's not bullish pic.twitter.com/N8Ua9U7Jid
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.
