Sands Gains Nearly 20% in Wake of Tech Giants' Metaverse Announcement
Sandbox Cryptocurrency
Modified Date:- Published Date:-Categories: Cryptocurrency
Sandbox's sand token is up nearly 20%, just days after tech companies including Meta and Microsoft announced the formation of something called the Metaverse Standards Forum. According to data compiled by CoinMarketCap, SAND is up 19% over the past 24 hours to $1.31 as of this writing. Similarly, Decentraland's MANA token was up nearly 9% to $1.02 over the same period. Sandbox and Decentland are Ethereum-based games in which users can purchase virtual land plots – sometimes for millions of dollars – and each can benefit massively, from Metaverse, an immersive NFT-based internet of the future, by the way. As many have predicted, flourishes . Each could also be an acquisition target for an established tech giant, and rumors have swirled. The stated goal of the Metaverse Standards Forum, which was announced on Tuesday and also includes Alibaba and Sony, is to foster coordination and collaboration among the hundreds of companies working to establish themselves in the Metaverse.Yat Siu, founder and executive chairman of Animoca Brands, the $5 billion-dollar venture capital firm behind several Metaverse projects including Software and The Sandbox, has previously called Meta's ambitions "digital colonialism."
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