The crypto market is overheated by tokens representing play-to-earn games, which have registered huge appreciation even as the rest of the market is in downtrend.
Such is the case with The Sandbox (SAND), which has accumulated a valuation of over 841% in the past 30 days, according to data from CoinGecko. Moreover, in the last 14 days alone, the price of The Sandbox has seen a 212.7% increase through the SAND/USD trading pair.
About to officially launch a game on the market, the cryptoasset The Sandbox represents yet another project known as ‘play- to- earn’. According to the release schedule, The Sandbox’s game will be launched on November 29, 2021.
Cointelegraph says the game will be launched through an “Alpha play- to- earn” event, where The Sandbox’s metaverse will be partially opened to users.
In addition to debuting the metaverse, The Sandbox will choose 5,000 players to receive a prize of 1,000 SAND units. At current altcoin exchange rates, the prize is about US$ 7,380, or R$ 41,000.
Expectations are growing for the game The Sandbox, which could become a new Axie Infinity. As the market launch of the game approaches, the price of SAND has risen significantly in recent days.
SAND accumulated 841% appreciation in the month (Reproduction/CoinGecko)
In the past 24 hours alone, The Sandbox has earned a 36% appreciation, according to CoinGecko. Currently, each unit of SAND is trading for US$ 7.38 on the market.
The cryptoasset The Sandbox started November being quoted at US$ 1.59 and has accumulated a valuation of over 841% in the past 30 days. With this wave of appreciation, for the first time, SAND has surpassed the US$ 8 level.
Last Wednesday (24), SAND was quoted at US$ 8.01 and registered a new record price on the market. Driven by the game’s release at the end of the month, since the beginning of 2021 The Sandbox cryptoasset has accumulated a higher valuation of 15,536%.