The metaverse projects have revived, on the stock market as in decentralized finance, just after Facebook renames itself as “Meta” and displays its ambitions in the construction of virtual worlds. Among them, the The Sandbox project, which we presented to you in the first half of the month. His metaverse will open November 29 to 5,000 players, resulting in an explosion in the price of its cryptocurrency.
After a first colossal increase at the end of October, the price of SAND, the token used on the platform The Sandbox, continued to increase from 2.64 to almost $ 8.4 in recent hours. A meteoric rise that has particularly arisen since November 24 when the token was still trading at $ 4. Individual and professional investors interested in exposure to a Metaverse project have found the perfect recipe on the platform.
The Sandbox opens its Metaverse
Launched by two French people, The Sandbox was above all specialized in video games. But the development of its metaverse was combined with the opening of a marketplace on which the company called on the community of developers to create plots, infrastructures and virtual stages, with the aim of reselling them to actors requiring of landscapes, settings and characters for their metaverse. Sales are made in the form of blockchain digital certificates of authenticity (NFT) and the digital currency used is $ SAND.
From November 29 to December 20, 5000 utilisateurs The Sandbox will be able to discover and test in preview the metaverse and its capacities developed in recent years. It’s a whole world to build (the company has put 140,000 plots up for sale) but already several companies and billionaires have bought and built virtually on their land. This is the case of Binance, Adidas, Atari or even rapper Snoop Dogg.
Investing in the stock market and in DeFi
Now the trading on the various exchange platforms like Binance has attracted large volumes of capital ($ 10 billion in 24 hours) for speculation and the token’s exceptional performance, in a fairly quiet period for the most popular cryptocurrencies. But in a more general trend, the metaverse-related project sector is in great shape. The Decentraland platform, which issues the “MANA” token, has recorded highs in recent hours.
On the stock market, small players are not as popular and well-known. To be able to attract investors wishing to bet on Metaverse, a New York-based investment firm called Roundhill Investments has launched an ETF made up of 42 companies. It’s called the ETF Ball Metavers ($ META) and within days managed to accumulate more than $ 176 million in assets.
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Source From: Presse-Citron