The Sandbox Announces $167M Land Market Cap
The Sandbox is alive and properly in 2023. In keeping with a report by Parcel Team, 2022 was a 12 months of great development for The Sandbox. On Saturday, The Sandbox introduced its accomplishments by way of Twitter and stays as bullish as ever of their social channels.
Digital Actual Property NFTs on the rise
There are nonetheless causes to be bullish. Final 12 months, digital actual property noticed a 180% year-on-year development with $1.4 billion {dollars} in gross sales. Throughout this era of development, The Sandbox rose in prominence and at the moment boasts a $167M+ Land Market Cap. Presently, The Sandbox sits third within the Land Market Cap rankings behind Decentraland and Otherside. Curiously, landowners are holding onto their digital property in The Sandbox greater than every other metaverse platform on the planet. Certainly, 54% of landowners held onto their Sandbox land NFTs in 2022.
The Sandbox getting whale consideration
The Sandbox not too long ago appeared within the high 100 most used good contracts amongst ETH whales. This revealed a shift in momentum in the direction of the platform.
May a bull market be on the horizon? Following a chilly crypto winter in Q3 and This fall, there’s each cause to consider {that a} revival is on its method. In that case, The Sandbox is properly positioned to be a serious benefactor, with over 17k Distinctive Energetic Wallets (UAW). Amongst a number of different thrilling initiatives set to explode in 2023, The Sandbox stays as related as ever.
Digital worlds are nonetheless the long run
Immersive digital platforms are getting ready for a giant 12 months in 2023. New metaverse platforms will provide methods to play, socialize, and interact in digital worlds like by no means skilled earlier than. As an example, the brand new platform ‘Metaverse Seoul’ by the Seoul Metropolitan Authorities reveals unprecedented consideration to element. What’s extra, these platforms are incomes worldwide consideration and recognition, as we noticed in TIME Magazine’s best inventions of 2022. As we kick off the brand new 12 months and Q1, we’re going to see new initiatives emerge and a market restoration could also be simply across the nook. Throughout this time, digital land gross sales are nonetheless retaining their worth comparatively properly contemplating.
What the long run holds
Digital worlds and digital property are getting ready for a fightback this 12 months. As a part of this fightback, The Sandbox will probably be proper on the entrance line, persevering with to construct its legacy.
