The post The Sandbox (SAND) Price Prediction by Reid McCrabb appeared first on Benzinga. Visit Benzinga to get more great content like this.
The Sandbox and other metaverse projects have been on the down and out for roughly a year now along with the rest of the crypto and NFT markets. Less liquidity in the markets has reduced speculative investing. Owning property in the metaverse or buying metaverse native currency is about as speculative as it gets. Still, many developers are actively working on creating the future of digital worlds. Not all of these are crypto-based. But crypto gives these games the ability to create real economies inside of them. While many of the projects will fail, there is a ton of potential in this sector, and The Sandbox is off to an early lead.
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What is The Sandbox (SAND)?
The Sandbox is an online game that has many features similar to games like Roblox or Minecraft. The game itself is roughly where the similarities end, however.
The Sandbox was heavily driven by price speculation. Investors expected plots of NFT land in The Sandbox to appreciate in value, and they did, for a while at least. The highest sales reached into the millions of dollars. Scarcity is programmed into The Sandbox, which has a finite amount of land and other in-game items. The in-game items are non-fungible tokens (NFTs), so users have easily distinguishable and tradable ownership over them.
A popular bull case for The Sandbox is that the hard part is already figured out, with an entire economy built into the game. However, the game just doesn’t differentiate itself enough. The question prospective investors should consider is: why would anyone play a game made by a crypto company when they can play a game from a triple-A game studio? The gameplay of The Sandbox seems to be mostly set, but it could still set itself apart with its main edge, its in-game economy.
The Sandbox (SAND) Market Position
The Sandbox has a native cryptocurrency used for in-game purchases — SAND. The market cap for SAND is huge, worth $1.25 billion at the time of this writing. It trades as a top 50 cryptocurrency, second only to Decentraland (MANA). The price per token is just under a dollar. Multiple metaverse tokens do succeed, but to think that they all maintain market caps worth billions is a lot to grip. The Sandbox will likely continue to trail the price of Bitcoin and other cryptocurrencies but will need to improve the game and beat out Decentraland to stay relevant long-term.
InvestorsObservor’s Bullish The Sandbox (SAND) Price Prediction
The Sandbox (SAND) received a bullish rating from InvestorsObserver as the broader crypto market rallied. InvestorsObserver cited a number of technical factors as well as positive investor sentiment. However, most of the factors that were referenced in the report are short-term indicators, and The Sandbox is reliant on other factors such as developers and network effects to see continued long-term growth.
2023 The Sandbox (SAND) Price Prediction
Changelly is a popular site that uses technical analysis to create year-by-year and month-by-month predictions for different cryptocurrencies. It’s important to keep in mind that these predictions are not always accurate. By the end of 2023, Changelly predicts an average trading price of $1.18 for SAND. This price improvement would mean a continued recovery like we have seen over the past couple of months in the crypto market.
2024 The Sandbox (SAND) Price Prediction
For 2024, Changelly calls for an average trading price of $1.67 by year’s end. This prediction could be possible just from a border crypto market rally. While The Sandbox is lacking in fundamental factors supporting its valuation, many cryptocurrencies lack these fundamentals, and a market rally could be all SAND needs in the short term to break out past a dollar.
2025 The Sandbox (SAND) Price Prediction
In 2025, Changelly has SAND trading at an average price of $2.48. This would likely mean continued development of the gameplay, an increased number of users and a bull market for crypto. These price predictions are certainly on the bullish side of things, and it is important to keep in mind the downside risk cryptocurrencies also hold.
2026 The Sandbox (SAND) Price Prediction
By the end of the year 2026, Changelly is predicting an average price of $3.60, which would be over 4x the trading price today. While this prediction is possible, it could be seen as far-fetched to skeptics of crypto or metaverse.
2027 The Sandbox (SAND) Price Prediction
Another popular site that does cryptocurrency price predictions based on technical analysis is CryptoNewsZ.com. Its predictions, while still bullish, are more modest. By the end of 2027, CryptoNewsZ is calling for an average price of $1.75. This price prediction still expects SAND to double.
2030 The Sandbox (SAND) Price Prediction
In 2030, CryptoNewsZ calls for SAND to be trading at an average price of $4.55. With this long-term horizon, The Sandbox will have plenty of time to prove itself. The SAND token will unlikely be trading at high valuations based on speculation alone. If the Sandbox continues to grow and be a top crypto project, this price prediction could be possible.
Where to Buy The Sandbox (SAND)
You can buy SAND on most of the top crypto exchanges, and some of the best that offer it are Uphold, OKX, Binance (or Binance.US for U.S. investors) and eToro. The token is also available on a number of decentralized exchanges (DEXs). Purchasing cryptocurrencies through a DEX is a growing trend since the FTX collapse. DEXs are less user-friendly than centralized exchanges but offer some advantages, such as holding your own private keys.
Get started
securely through The Sandbox (SAND) Price Prediction’s
website
get started
securely through Binance’s
website
get started
securely through eToro’s
website
eToro is headquartered in Cyprus, England and Israel. A major eToro plus is its social trading operations, which allows new clients to copy trade the platform’s best performers. Its social trading features are top notch, but eToro loses points for its underwhelming research and customer service features.
Best For
- Investors looking to CopyTrade other traders
- Simple user interface
- Several major cryptocurrencies and altcoins
- Expansive network of social trading features
- Large client base for new traders to imitate
- Only 29 coins available
How Long Will It Take for The Sandbox (SAND) to Reach $1.00?
For The Sandbox (SAND) to hit $1.00 per token, positive news specific to the protocol would be necessary or an extended rally in the crypto market would be required. Since altcoins typically tail Bitcoin, tokens such as SAND are almost entirely dependent on Bitcoin’s price action. If tokens get new funding, increased usage or technology upgrades, prices may move up. The most common factor for price movement, however, is lagging Bitcoin’s price movement.
Where to Store The Sandbox (SAND) Safely
Software and hardware wallets are commonly used in pairs to buy and store cryptocurrencies. Software wallets allow users to connect to decentralized applications. The hardware wallet works as a cold storage solution, providing users an extra layer of safety over their private keys by keeping them off the internet.
Best Hardware Wallet: Ledger Nano S Plus
One of the most popular crypto wallets is the Ledger Nano S plus; this hardware wallet looks similar to a flash drive and has a basic user interface. Ledger has also announced a new model called the Ledger Stax and it just opened preorders. It looks more like a smartphone than anything and it has received a lot of buzz so far. As the wallet industry continues to develop, more users will likely choose to hold their own keys rather than use a centralized exchange. All Ledger wallets supports just about every major coin you could want to store (more than 1,800 cryptos supported) including Bitcoin, Ethereum, The Sandbox, Dogecoin, Ripple, Shiba Inu and all ERC-20 tokens.
buy now
securely through Ledger Hardware Wallet’s
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Launched in 2014, Ledger has transformed into a fast-paced, growing company developing infrastructure and security solutions for cryptocurrencies as well as blockchain applications for companies and individuals. Born in Paris, the company has since expanded to more than 130 employees in France and San Francisco.
With 1,500,000 Ledger wallets already sold in 165 countries, the company aims at securing the new disruptive class of crypto assets. Ledger has developed a distinctive operating system called BOLOS, which it integrates to a secure chip for its line of wallets. So far, Ledger takes pride in being the only market player to provide this technology.
Best For
- ERC-20 tokens
- All experience levels
- Easy to set up and use
- Supports more than 1,500 different digital assets
- Tamper proof
- Portable
- Long-lasting battery
- Bluetooth connectivity features
- Can be quite pricey
Best Software Wallet: MetaMask
MetaMask is a top choice for crypto users looking for a software wallet. It connects to DEXs, such as Uniswap, where users can buy, sell or trade their holdings. Cryptocurrencies on Uniswap include Ethereum, Polygon, Wrapped Bitcoin, The Sandbox and many more.
Current Crypto Prices
The crypto market has seen prices rally over the past couple of months, though it is far from a bull market. Bitcoin and Ethereum are back at $24,000 and $1,600 respectively and have generated some relief for investors who were crushed in 2022. More macroeconomic pain will likely need to be sorted out as well as FTX contagion to work its way through the system. But investors remain hopeful that the market continues in its recent trend upward.
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So, Is The Sandbox (SAND) a Good Investment?
The Sandbox (SAND) could be a potentially good investment for risk-tolerant investors who are looking for a metaverse-blockchain play. In a bear market, this may sound a little ridiculous. However, it is important to keep in mind how fast these types of investments can swing in bull markets. SAND is a high-risk play that could just as likely hit zero as it could explode in the next bull market.
The post The Sandbox (SAND) Price Prediction by Reid McCrabb appeared first on Benzinga. Visit Benzinga to get more great content like this.
