The Sandbox (SAND) is now the second-largest token in terms of market capitalization, displacing Axie Infinity (AXS).
SAND rallied hard after last week’s crash, adding 40% to its price to regain $3.83. The latest weekly move expanded the SAND market capitalization to $3.5B in notional value. At the same time, AXS retreated again for a market cap of $3.1B.
The Sandbox Opens Metaverse Startup Fund
The Sandbox project remains one of the most influential play to earn games with digital land plots. Over the past days, SAND was supported by the news of a new $50M fund to support metaverse projects.
The project’s goal is to support 30 to 40 new metaverse startups.
The fund will be operated by Brinc, a global brand for startup acceleration. The first applicants are expected in Q2, 2022.
The Sandbox Adds Live Music
The Sandbox metaverse plots continue to expand their utility. One of the avenues of development is big brands choosing The Sandbox as their foothold for metaverse presence. Warner Music is one of the latest buyers of Sandbox land plots.
The Sandbox also remains a leared on OpenSea, with a floor price of 3.5 ETH for metaverse land plots. With more than 114,000 items, The Sandbox is one of the most active hubs for NFT activity, spanning both in-game items and digital plots.
A more recent partnership will open metaverse land plots for Unix Gaming, a play to earn studio. Plot development will create areas of interest and possibly raise prices for close locations on the map.
The Sandbox is also one of the most populated maps with most plots already belonging to games, brands, individuals or other types of players.
The Sandbox game extended its map recently with the Mega City Land Sale, appearing on January 13 and just opening up for secondary trading on OpenSea. The Sandbox game recently opened as closed alpha for testing, and the marketplace for user-made items is limited to pre-selected creators with the goal of opening to anyone willing to build content.