The Sandbox and its native token SAND have been seeing a steady inflow of new funds which resulted in the SAND token hitting an all-time high of $3.61 on November 17th. Since breaking out, the SAND token has given into selling pressure and has retreated back below the $3.30 support level. While further selling pressure is possible in the short term, the growing excitement surrounding the metaverse and virtual properties has driven the price of virtual land higher.
Hot on the heels of recent announcements from tech giants Facebook and Microsoft, the Metaverse has become the next big thing in both crypto and tech communities. While the venture into the virtual realm may be big and bold news for some of the largest corporations in the world, several cryptocurrencies have been built around virtual worlds from the ground up. One seeing recent gains due to all the talk surrounding the Metaverse is The Sandbox, a blockchain gaming developer that allows users to play, create, own, and govern their own gaming experience through owning virtual lands.