The American Dream has been promoted for decades now. It’s something almost every American chases: a beautiful house in a nice neighborhood, a reliable car in the garage and plenty of extra cash in the bank account. But, being in the technical age, that idea of the American Dream is changing in ways we couldn’t have predicted years ago. The metaverse is turning everything on its head, with more Americans seeking out virtual land to call their own. In fact, the industry is so hot, it’s spawning real estate companies that deal exclusively in the virtual land. Sandbox (CCC:SAND-USD), one of the most popular metaverse plays of the moment, is seeing a major real estate deal on its platform. It’s causing a major stir, and investors wonder if the news will power up analysts. Sandbox price predictions are hot as a result.
A home is a status symbol of sorts — it’s an indicator that one’s hard work is paying off. But now, things are becoming increasingly virtual. The metaverse is creating an entirely new reality in which your status is measured by virtual assets. Non-fungible tokens (NFTs) have taken off, with people paying thousands or even millions for a piece of digital art. In the metaverse, one can show off these assets, and by owning a piece of virtual property, one can develop a personal home and display their digital belongings to friends. It’s an idea that’s still bizarre to many, but the boom in metaverse cryptocurrencies and NFT popularity shows that it’s the future we’re moving toward.
Sandbox Gets a Boost in Notoriety After Multi-Million Dollar Virtual Real Estate Deal
Sandbox is one such metaverse play; it’s an open world where users can do most whatever they want. NFT compatibility allows users to port in their digital assets to show off. It also gives users the option to buy one of the many plots of virtual land for sale. Like any real plot of land, ownership comes with a deed, as well as the opportunity to develop the land to fit one’s tastes.
The virtual real estate market is hot, there’s no doubt about it. Users are often paying the same rates for virtual land that they might for a real plot of land. Crypto holdings firm Grayscale is calling the metaverse a $1 trillion opportunity, thanks to the increasing interest in this property. And now users aren’t just racing each other to get plots of land; metaverse real estate companies are cropping up in response to this boom as well.
These niche corporations are moving in droves to snatch up land, and at very high prices. Investors last week saw multiple real estate companies spend $2 million or more on different plots of land. That doesn’t even touch on the sale that occurred this morning on the Sandbox platform. Metaverse real estate firm Republic Realm says today that it purchased a plot of land on Sandbox for a whopping $4.3 million. This is the largest exchange of digital property ever, and it is certainly a measure of the metaverse’s successes as an industry thus far.
Sandbox Price Predictions Heat Up Amid Republic Realm Deal
As Sandbox developers celebrate the fact that they just netted over $4 million on land made of 1’s and 0’s, investors are hoping that the deal will translate to more tangible financial gains. Sandbox price predictions are a topic of interest this morning; could the sale beef up already bullish takes on the future of the SAND token? After all, SAND is resting at a price of about $6.77, a gain of over 17,000% on the year. Let’s see what analysts are thinking:
- CoinPriceForecast thinks there’s plenty of growth laid out for SAND through the end of the year. The site predicts SAND to close out 2021 at a price of $13.82.
- The Economy Forecast Agency expects the token to stall out through the end of the year, finishing December at $6.84. By December of 2022, though, the site expects SAND to reach a value of $12.89.
- WalletInvestor’s 12-month forecast targets a value of $10.68 for SAND by December of next year.
- Gov Capital’s 12-month prediction is largely similar, expecting SAND to reach $11.33 by next year.
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.