- The Sandbox folds the chapter of 2022 by ranking #7 with the LAND NFT market capitalization of $435 million
- SAND token price dropped 92% over the past 12 months as the bear market persists
- The SAND coin will eventually grow into a powerful cryptocurrency despite the current low prices due to demand in LAND NFT
The Sandbox is among the leading metaverse platforms in the world. According to NFTGo, the number of holders of LAND decreased by 6.07% and there are currently 16,740 owners onboard. SAND, which is the native coin built on Ethereum, declined to 92% from its all-time high due to crypto winter.
Nonetheless, The Sandbox team has been actively updating and announcing partnerships with various brands and companies around the world. Its recent Alpha Season 3 is a complete success bringing users from all over the world to participate.
The platform is currently on a mission to educate the masses about the metaverse and promote the creator economy to new artists and creators in the space.
The Sandbox’s progress will push SAND up
Although the SAND token’s price isn’t up-to-notch when compared to high-ranking platforms, The Sandbox’s continuous progress is most likely to push its position upwards.
The Relative Strength Index, an indicator tool that indicates whether a coin is overbought or oversold shows 33.51 for SAND. A reading below 30 implies that the asset is oversold and undervalued but this token price is just above 30 so it means SAND is in a neutral position.
For future predictions, the coin is expected to grow back to its average price of $2 in the coming months. In case of a bull run, $SAND will be able to climb up the chart seeing its strong momentum all year.
People are still buying LAND
The LAND NFTs value remains in demand as people pour their investments in over the year. Based on the data shown on NFTGo, there was a 45.49% decline in sales in the 1Y chart.
However, investors know that buying land at a cheaper price now will eventually double in the coming years. The Sandbox has many new partnerships and collaborations to announce in 2023 which will push its LAND prices up because brands would want to purchase plots in the metaverse.
As long as the LAND NFT value increases, the SAND coin will eventually catch up soon in the bull run.
