Key Takeaways
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 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.
The Sandbox did not immediately respond to a request for comment.
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 February 27, 2024.
With that all out of the way, let’s take a look at some of the Sanbox price predictions that were being made as of February 27, 2024. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, very often end up being wrong. Also, keep in mind that many longer-term crypto price predictions are made using an algorithm. This means that they can change at a moment’s notice.
2024 | 2025 | 2030 | |
---|---|---|---|
Prediction #1 | $1.19 | $1.38 | $4.06 |
Prediction #2 | $1.52 | $2.06 | $4.77 |
Prediction #3 | $0.8332 | $1.28 | $8.02 |
First, CoinCodex had a short-term The Sandbox price prediction which said that the token would be somewhat volatile in the coming weeks, with it dropping to $0.506085 by March 2 and reaching $0.601364 by March 28. The site’s technical analysis was bullish, with 26 indicators sending encouraging signals and just two making bearish ones.
When it came to other sites making their The Sandbox price predictions for 2024, DigitalCoinPrice said it would thrive in the coming months, reaching $1.19, while Bitnation said SAND would get to $1.52. PricePrediction.net , on the other hand, was more cautious, forecasting The Sandbox to stand at $0.8332 this year.
In terms of The Sandbox price prediction for 2025, Bitnation thought the token would reach $2.06 while DigitalCoinPrice went a bit higher at $1.38. PricePrediction.net, meanwhile, said that SAND would trade at $1.28 next year.
Moving forward to a more long-term The Sandbox price prediction for 2030, PricePrediction.net said that the token would soar to $8.02 that year, with DigitalCoinPrice saying it would hit $4.06. Bitnation had a SAND price prediction that said the crypto would trade at $4.77 at the start of the next decade.
Google’s Gemini AI platform gave the following price prediction for The Sandbox on February 27. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.
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.
It then ended 2023 at $0.575 and moved slightly down in the first two months of 2024. It reached $0.5433 on February 27, 2024.
At that time, there were about 2.23 billion SAND in circulation, out of a total supply of 3.00 billion. This gave it a market cap of about $1.21 billion, making it the 69th largest crypto by that metric.
On one hand, The Sandbox is one of the largest metaverse-related cryptocurrencies out there. Despite skepticism, with a market cap nearing $1 billion, it’s one of the larger cryptocurrencies. However, being in a niche market, caution is warranted.
The metaverse has declined from its peak in late 2021, with little sign of returning to those levels in the near future.
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 associated with AR seems rather like wishful thinking. Regardless, before you invest in SAND, you will need to do your own research.
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.
Before considering investing in Sandbox or any other metaverse tokens like Decentraland (MANA) and Ultra (UOS), thorough research is essential. Keep in mind that prices are volatile and can decrease as well as increase, so only invest what you can afford to lose.
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 concept of virtual worlds like Second Life and early Virtual Reality had existed before, but the rise of non-fungible tokens (NFTs) saw a resurgence in interest. Companies embraced this idea, while metaverse coins and tokens became prominent in the crypto space, featuring prominently on hot 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 them 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.
Here is a chart for the The Sandbox Google search volume for the past 90 days. This represents how many times the term “The Sandbox SAND” has been Googled over the previous 90 days.
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.
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.
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.