The quest to obtain and invest in virtual land in the metaverse has picked up. Sales volume for NFTs related to the metaverse has risen since Meta Platforms Inc FB became the new name for social media platform company Facebook Inc.
Cryptocurrencies of related metaverse companies have also risen. Could news of a partnership between a virtual land company and a rap icon have signaled a potential investment?
“It’s dropping news like it’s hot! The Sandbox is excited to announce a partnership with the legendary rapper, actor, songwriter and entertainer Snoop Dogg,” The Sandbox said at the time.
Snoop Dogg is to perform live concerts and interact with players inside The Sandbox, said the company.
Snoop Dogg was part of recent headlines about The Sandbox. It was announced someone paid 71,000 SAND, or around $450,000 to acquire the plot next to Snoop Dogg’s. The purchase came after Snoop Dogg tweeted about anyone wanting to become his neighbor in the metaverse.
Sales volume on The Sandbox NFTs have increased sharply over the last 30 days. The company's virtual real estate has also seen some massive sales.
In late November, the Metaflower Super Mega Yacht sold for 149 Ethereum ETH/USD, or around $650,000. This marked the most expensive NFT item sold from The Sandbox metaverse and the most expensive NFT asset ever sold in a video game. Another November sale for virtual land in The Sandbox sold for $4.3 million.
Sales volume for The Sandbox is $171.9 million for the last 30 days, up 736% from the previous 30 days. The Sandbox ranks third over the 30 day time period, trailing only Axie Infinity AXS/USD and Bored Ape Yacht Club.
Investing $1,000 In SAND: The cryptocurrency tied to The Sandbox SAND/USD has seen a sharp increase over the last few months and could have been a good investment timed around the Snoop Dogg partnership announcement.
On Sept. 23, SAND traded at a high of $0.7481. A $1,000 investment could have purchased 1,336.72 SAND coins at the time.
That $1,000 investment in SAND would be worth $7,054.81 today based on a price of $5.2777 at the time of writing. This represents a 605% return in less than three months.
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