The Sandbox: Declining Sales in the Metaverse

1 min read

In the past 24 hours, The Sandbox’s popular blockchain metaverse has seen a 20% drop in the sale of its NFTs. Not only that, the volume and number of traders have also decreased.

The Sandbox: the NFTs of the metaverse experience a drop in sales

According to data from DappRadar, it appears that the popular blockchain-based metaverse of The Sandbox has suffered a 20% drop in NFT sales in the past 24 hours.

Specifically, the platform has reportedly achieved a 15% drop in sales volume in the last 24 hours, which, at the time of writing, amounted to $34.85K, and a 3% drop in the number of traders. There were only 86 traders in the last 24 hours just like the number of sales.

Not only that, in DappRadar’s overall ranking, selecting Game and the Ethereum blockchain as the category, The Sandbox ranks 64th.

And yet just last month, the well-known metaverse announced the launch of new land sales in the metaverse involving as many as 14 global brands the likes of Paris Hilton, TIME, Tony Hawk, FaZe Clan and others.

In practice, with three separate sessions that began last November and will end in late 2023, The SandBox intends to sell 1,900 plots out of the total 166,464 LANDs that already make up the NFT metaverse. 

Each sale is themed around a distinct neighborhood and will include Standard and Premium LAND and also exclusive Estates, comprising several different LAND tokens, auctioned on OpenSea.

The Sandbox and the price of the SAND crypto

In contrast, when it comes to the SAND crypto, the native token of The Sandbox, the situation in the last 24 hours sees a small price pump of 1.5%. 

Like all cryptocurrencies, after the collapse of the FTX exchange around 7 November, SAND saw a price drop from $0.84 to $0.56 on that day, with the trend turning bearish to the current price of $0.44.

A super disaster considering that the blockchain-based metaverse crypto was worth as much as $6.5 just last year.

Regardless, SAND maintains its $670 million market capitalization and ranks 51st in the overall crypto ranking and 5th in the crypto metaverse category.

The launch in the world sports

Last month, The Sandbox also announced its plans to launch in sports, in connection with the 2022 World Cup which was won then by Argentina.

Essentially, the crypto metaverse had offered its users the chance to have a privileged relationship with their favorite players such as being able to play with them or participate in seminars on sports and NFTs. 

In the virtual space defined as NFTSTAR there have been members such as Brazil star Neymar Jr. as well as the legendary Luis Figo and Son Heung-Min.

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Chris Munch

Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.