Mark Zuckerberg and his company’s rebrand from Facebook to Meta Platforms (NASDAQ:FB) threw open the floodgates. Now, investors can’t escape the metaverse… but it seems they don’t want to. Money continues to flow into so-called metaverse cryptos in an effort to capitalize on the hype. Sandbox (CCC:SAND-USD), one of the most-established names in this space, is picking a perfect time to launch its metaverse product. As a result, Sandbox (SAND) crypto fans are excitedly scooping up tokens today, sending the crypto to an all-time high.
The Sandbox network stands to compete with metaverses like Decentraland (CCC:MANA-USD) and the ever-popular Axie Infinity (CCC:AXS-USD). As its name implies, it allows users to dive into a sandbox world. There, users can do or create whatever they want.
The network has already inked partnerships with a number of musicians, companies and media franchises to help bolster its world and align with users’ hobbies.
The Sandbox network has remained in a development stage since first launching in 2017. However, the promise of the Sandbox universe and all of the play-to-earn capabilities that come with it have increasingly driven buyers. The SAND token is among the top 60 largest cryptos by market capitalization, even without its product rolled out.
Sandbox (SAND) Crypto Soars on Metaverse Release Date
Well, things are changing, and that’s reflected in SAND’s massive gains today.
The network announced the opening of its Sandbox Alpha. On Nov. 29, 5,000 Sandbox landowners will have a chance to delve into the universe. In doing so, they can play t0 earn up to 1,000 SAND over the course of the multi-week event. Right now, that equates to over $3,200 just for playing. Users will also have the opportunity to earn three NFTs over the event; at current averages, an NFT on Sandbox goes for over $4,200.
Users are fervently clamoring for their chance to submerge themselves in the virtual world. As such, the Sandbox (SAND) crypto is getting a huge lift. SAND has seen a 55% gain since yesterday’s lows. Indeed, trading volume is seeing a big boost from the announcement as well. $3.8 billion in SAND is trading hands today, an 70% increase on yesterday’s volume.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.