Why The Sandbox Price (SAND) increasing over 38% high?

Ethereum-based The Sandbox’s SAND token tapped record highs above $3, it is over 40% high in 7 days. Other gaming crypto coins like enjin (ENJ) and lluvium (ILV) also traded higher in the past few days.

There are a few reasons for the question “Why is The Sandbox (SAND) crypto token getting high?” Check out the reasons here below;

One of the main reasons is “Facebook’s recent big update to rebrand the home company as Meta”. Followed by the announcement, all the non-fungible tokens, gaming tokens, metaverse tokens are powered high. Because of this update, tokens like AXS, ILV, WILD, MANA, and SAND are got pumped.

Facebook’s announcement pushed the growth of metaverse than its own stock.

According to data from CoinMarketCap, the price of SAND hit a new all-time high of $3.51.

The Sandbox Alpha: For the first time, The Sandbox is launching its metaverse to players via a multi-week play-to-earn (P2E) Alpha event.

The event will start on November 29 at 1 pm UTC and will run until December 20, 2021. A select group of just 5,000 users will have the chance to earn up to 1,000 SAND and three exclusive NFTs via time spent across 18 experiences developed by The Sandbox teams. At current prices, one thousand tokens of The Sandbox is worth around $3,500.

As per the information, this virtual gaming world enables users to monetize their time spent via a play-to-earn model in the metaverse. Players can stake the token after they earn the Sandbox token (SAND) by completing various quests. Also, they can purchase land and create nonfungible tokens (NFT) within the game.

The Sandbox stock is currently available on the exchanges such as Binance, Mandala Exchange, OKEx, Huobi Global, CoinTiger and a few others.

Stay tuned for latest The Sandbox Crypto updates.