The Sandbox Announces $167M Land Market Cap
The Sandbox is alive and effectively in 2023. In response to a report by Parcel Team, 2022 was a yr 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 yr, 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 belongings in The Sandbox greater than some 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 just lately appeared within the high 100 most used sensible contracts amongst ETH whales. This revealed a shift in momentum in the direction of the platform.
Might a bull market be on the horizon? Following a chilly crypto winter in Q3 and This fall, there’s each purpose to imagine {that a} revival is on its means. If that’s the case, The Sandbox is effectively positioned to be a significant benefactor, with over 17k Distinctive Lively 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 longer term
Immersive digital platforms are getting ready for a giant yr in 2023. New metaverse platforms will provide methods to play, socialize, and interact in digital worlds like by no means skilled earlier than. For example, the brand new platform ‘Metaverse Seoul’ by the Seoul Metropolitan Authorities exhibits 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 yr 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 effectively contemplating.
What the longer term holds
Digital worlds and digital belongings are getting ready for a fightback this yr. As a part of this fightback, The Sandbox can be proper on the entrance line, persevering with to construct its legacy.