Key Takeaways

 

• The Sandbox shot up in value in the wake of the announcement of Apple’s new AR headset.
• While SAND was a major grower in 2021, it crashed in 2022 as metaverse tokens bore the brunt of crypto losses.
• Based on Ethereum, SAND is one of the largest metaverse cryptos out there. 

It can be argued that cryptocurrency enthusiasts can be quick to respond to anything that might have an impact on the world of crypto. One example of this took place in early June 2023, when Apple said  it would launch its own augmented reality headset. While the tech giant’s announcement barely mentioned gaming, let alone the world of the blockchain, crypto or the metaverse, that didn’t stop people from hurrying to buy cryptos associated with the world of VR and gaming. One such crypto was The Sandbox, which went on something of a bull run before the overall market slumped following the news that the United States Securities and Exchange Commission (SEC) had sued the Coinbase and Binance exchanges. Nevertheless, interest is growing in SAND, and it’s all because of something that isn’t really anything to do with it. 

But what is The Sandbox (SAND )? How does The Sandbox work? Let’s take a look and see what we can find out, and also examine some of the Sandbox price predictions that were being made as of 7 June 2023, too. 

 

The Sandbox (SAND) Explained

For a few months in the second half of 2021, the Metaverse was not just the hottest concept in crypto but, it seemed, the biggest new thing anywhere. The idea of a virtual, online, world where you could interact with other people via their avatars was not necessarily a new thing – it had been the basis for the late 2000s online game Second Life and had been the subject of the Virtual Reality craze of the early 1990s – but the boom in non-fungible tokens (NFTs), the rights to links to an individual piece of digital art, saw companies get in on the concept in a big way. In crypto itself, metaverse coins and tokens had their time in the sun and became mainstays of the hottest crypto lists. 

One such cryptocurrency is The Sandbox (SAND). This helps power The Sandbox, an online game that has been around in one form or another since 2011, when it was launched as a mobile phone app by the Pixowl company, founded by Arthur Madrid and Sebastien Bourget. It went through several iterations, but in 2018, Pixowl was purchased by Hong Kong company Animoca Brands. It was then that the series was not only able to go 3D but also to get on the blockchain. 

In the game, people can create their own spaces and decorate them with NFTs, some of which they can make themselves within the system. It is powered by the SAND cryptocurrency. This is a token that can be used to buy parcels of land within the game. People who hold it can vote on changes to the network, and it can also be bought, sold, or traded on exchanges. 

Something else worth mentioning about SAND is that, because it is based on Ethereum, it is a token, rather than a coin. You might see references to such things as a Sandbox coin price prediction, but these are, technically speaking, wrong. 

 

SAND Price History

Let’s now take a look at some of the highlights and lowlights of the Sandbox price history. While past performance should never be taken as an indicator of future results, knowing what the token has done in the past can help give us some very useful context when it comes to either making or interpreting a Sandbox price prediction. 

When Sandbox first reached the open market in August 2020, it was worth about $0.08658. That initial price was, the market thought, an overvaluation and it dropped to close the year at $0.03565 before breaking past $0.10 for the first time in January 2021. Although there were some peaks and troughs, a booming market saw the token reach new heights, it grew throughout February and March to trade at a periodic high of $0.9327 on 29 March. After that, though, it fell down, with its difficulties made worse by a sluggish, stagnant summer.

In August NFT fever gripped the world of cryptocurrency and, at the end of the month, SAND went past $1 for the first time before dropping back down over the following couple of months. In November, though, metaverse mania ran wild and the price of SAND skyrocketed, with it reaching an all-time high of $8.44 on 25 November. 

Perhaps inevitably, the boom was followed by a bust. 2022 was a bad year for crypto overall and metaverse-related tokens bore the brunt of the sector’s losses. SAND was no exception to the bad news,  with it sinking to below $0.40 by the end of the year. 

In 2023, the token recovered somewhat, with it briefly topping $0.90 in February. After that, his had slid down and not even the boom sparked by Apple’s announcement could stop it from trading at around $0.5075 on 7 June 2023. At that time there were about 1.85 billion SAND in circulation out of a total supply of three billion, this gave it a market cap of about $937 million, making it the 45th largest crypto by that metric. 

 

Sandbox Price Predictions

With that all out of the way, let’s now take a look at some of the Sandbox price predictions that were being made as of 7 June 2023. It is important to remember that price forecasts, especially when they concern assets as potentially volatile as cryptocurrency, have a tendency to be wrong. Also, many long-term crypto price predictions are made using an algorithm, which means that they can change at any time. 

First, CoinCodex  had a somewhat downcast short-term Sandbox price prediction for 2023. The site said that the token would slip down to around $0.5015 by 12 June before continuing to drop and sinking to just $0.4195 by 8 July. While the fact that its technical analysis was bearish may not have come as that much of a surprise, just how bearish it was might have raised some eyebrows. Every single one of the site’s indicators sent out a negative signal, meaning that there was nothing to suggest any bullishness in SAND’s outlook. 

Next, DigitalCoinPrice  made a Sandbox token price prediction which said that the crypto should break back past the dollar barrier at some point this year to reach an average of $1.03, with it going on to trade at $1.29 next year and $1.71 the following year. By 2026, the argument was that Sandbox could be worth $2.18, reaching $2.71 in 2028 and finishing the decade trading at $5.24. The site’s long-term Sandbox price prediction for 2032 saw the crypto reaching a new all-time high of $9.81. 

Meanwhile, CryptoPredictions.com  had a SAND price prediction that argued the token could close the year somewhere around $0.67. The site’s Sandbox price prediction for 2025 saw it start the year at around $0.674, climb to $0.7829 in June and close the year at $0,8925. The following year should see it break past the dollar, while, in December 2027, it should be worth a fraction of a cent below $1.21. 

Finally, WalletInvestor  made a Sandbox crypto price prediction that would have made for some very uncomfortable reading for the token’s enthusiasts. The site said that the bears were coming for SAND over the course of the next year or so, with the price of Sandbox plummeting to a mere $0.0663 by early June 2024. 

 

Is The Sandbox a Good Investment?

On one hand, The Sandbox is one of the largest metaverse-related cryptocurrencies out there. With a market cap not far short of $1 billion, it has defied the expectations of cynics to remain one of the larger cryptos out there, no mean feat for a token that exists in a comparative niche market, on the other hand, there are things to be careful about. For instance, the metaverse has taken quite a big hit since its halcyon days of the second half of 2021, and there is no indication that things might get back to that stage at any point soon. Likewise, despite the excitement surrounding Apple’s new AR headset, there is absolutely nothing to say that it will, somehow, involve the metaverse, so buying a metaverse token just because it is tangentially associated with AR seems rather like wishful thinking. Regardless, before you invest in SAND, you will need to do your own research. 

Will The Sandbox go up or down?

No one can really tell right now. On one hand, sites such as WalletInvestor and CoinCodex say that the token is in a pretty bad place as far as its future outlook is concerned but, on the other hand, the likes of DigitalCoinPrice and, to a lesser extent, CryptoPredictions.com are pretty upbeat. Remember, though, that price predictions very often turn out to be wrong and that prices can, and do, go down as well as up. 

Should I invest in The Sandbox?

Before you decide whether or not to invest in Sandbox, you will need to do your own research, not only on SAND but on other metaverse coins and tokens, such as Decentraland (MANA) and Ultra (UOS). Remember, too, that prices can go down as well as up, and that you should never invest more money than you can afford to lose. 

 

FAQs

Will Sandbox reach $10?

It might do, but if it does, it won’t do that for quite a while. The most optimistic future prediction for SAND comes from DigitalCoinPrice, which says that the token will reach $9.81 in 2032. 

How many SAND are there?

As of 7 June 2023, there were 1.85 billion SAND in circulation out of a total supply of three billion. 

Is SAND a metaverse token?

SAND is a cryptocurrency linked to The Sandbox metaverse, so it is a metaverse token. However, because it is based on the Ethereum blockchain, it is not a metaverse coin. 

 

Disclaimer: This article does not constitute financial advice. Always make sure to do your own research before investing, remember that prices can go down as well as up, and never invest more money than you can afford to lose.