Leading metaverse platform The Sandbox has seen the price of their $SAND token settle at around $0.60 USD, after rocketing from $0.25 to a high of $0.84 across November 2024.
This movement – which was replicated in The Sandbox’s LAND NFTs – has been a largely unexpected occurence, as no major new features or initiatives have been debuted by The Sandbox over the past month.
Commentators believe this could be down to renewed interest in metaverse platforms more generally, as Decentraland‘s $MANA token saw similar movements over the past month.
What is causing metaverse tokens to spike?
Metaverse platforms have largely flown under the radar since the NFT boom of late 2021 and early 2022.
During that time, The Sandbox and Decentraland established themselves as the two leading platforms in the niche – although since then, many challengers have risen into contention, including the likes of Pixels, and Yuga Labs‘ Otherside.
As games such as Off The Grid have landed well with mainstream audiences, speculators believe that this could spurn renewed interest in metaverse games as we enter 2025, which could partially explain the substantial rise in interest in the tokens.
What is The Sandbox working on?
Back in October, The Sandbox launched their Alpha Season 4.
This 10-week play period highlights hundreds of experiences within The Sandbox, with a large number of quests to complete. $2.5 million USD in $SAND rewards is up for grabs, alongside over 170 brand-new NFTs to collect.
LAND and Avatar NFT owners also receive a host of additional benefits in Alpha Season 4, which hopes to both entice returning players and attract brand-new audiences to the title.
The Sandbox have yet to reveal detailed plans for their 2025 developments, although their past few months have been particularly busy, featuring partnerships with Hell’s Kitchen, Attack on Titan, Mocaverse and more.
COO & founder of NFT Insider. Bullish on web3. Competitive soul.