How are metaverse tokens performing in the crypto markets? We will take a look at MANA (Decentraland), SAND (The Sandbox), and OVR.
Summary
The Sandbox and the SAND token
Of the three, the one with the largest market capitalization at present is SAND, with almost $1.6 billion, closely followed by MANA with almost $1.5 billion. OVR, on the other hand, has a market cap of nearly $27 million.
SAND debuted on the crypto markets about two years ago, in August 2020. At that time, there had not yet been the big bull run of 2021, but there was the speculative DeFi mini-bubble, which ended in September 2020.
The debut price was very low, around $0.05, and remained more or less stable until mid-January 2021.
When the big 2021 bull run on altcoins began, SAND was one of the tokens that profited the most. By the end of January itself, the price had already doubled to over $0.1, and by February it had further tripled to $0.3.
The peak at that stage was reached in early April at $0.8. In other words, the price had risen by 1,500% in less than three months. After a descent to $0.2, it made its second big bang at the end of the year, surpassing $8 at the end of November when it was still below $0.8 at the end of October. In one month it gained 900%.
Practically from the beginning of January until the end of November it had gained an incredible 16,000%.
At that point, the decline began, which seems to have stopped in mid-May with the last big drop caused by Terra’s implosion. The current price, $1.3, is still much higher than both January 2020 and October 2021.
Decentraland’s token, MANA
MANA, on the other hand, debuted on the crypto markets as early as 2017, although until May 2020 it had not moved much.
However, from June 2020 onwards, it started to rise, to the point that in August it was close to $0.1, before falling back to $0.06 in November 2020.
Between December 2020 and January 2021 it returned to $0.1, and as SAND made a bang in the first months of 2021, even reaching $1.5 in early May. It had practically gained 1,400% in a few months, much like SAND.
Afterwards, it fell back below $0.5 in June, but at the end of October, it soared from $0.8 to $5.8, up 600% in less than a month.
In other words, it followed a parabola very similar to SAND, albeit slightly underperforming. It is now back below $1, with the collapse seemingly halted by Terra’s implosion.
The OVR metaverse tokens
OVR has existed on the crypto markets since December 2020 and like the other two tokens mentioned above, it made two big breakouts in 2021.
However, after the first one that took the price from $0.05 to $2.9 in March 2021, the value dropped to below $0.7 at the end of October. In fact, the second bounce, in November, did not take the price much above the previous high, stopping at $3.3.
Taking the maximum prices as a reference, and comparing them with those of 31 December 2020, the performance was +28,000% for SAND, +8,000% for MANA, and +4,600% for OVR.
In OVER, the token is used to buy land hexagons, i.e. land on which to build and host events and shops in the metaverse, but it is also possible to stake the token to earn more. What is also special is that this token can also be purchased with a credit card on the project’s official website.
