2022 was a tough year both from a macro perspective and for market performance per se, but according to analysts, things will be different this year for Sandbox (SAND)
Most analysts agree in predicting an increase in the value of companies related to the Metaverse concept, one above all, Sandbox (SAND) seems to have its way for a number of reasons that we will see together.
Usually, crypto projects involving the metaverse succeed in attracting the interest of the community and investors precisely because of the spectacle of the product and highly advanced technological innovations.
Among the most prominent metaverse projects in terms of size and value are The Sandbox (SAND) and Decentraland (MANA) both of which exploded in 2021.
2021 saw the value of SAND explode, which ended the year with a 200x while MANA, took home only (so to speak) a 75x.
2022, on the other hand, was a very bad year for the cryptocurrency sector in general, and the metaverse, while a catalyst for great curiosity, was no exception and was also hit heavily by this bearish trend.
However, the new year seems to have been born under a new star and new resources are peeping into the metaverse parterre.
The year 2023 is widely believed by all insiders to be a recovery year, although whether it will be the scene of a bull run or a milder recovery is up for debate.
The newborn among the metaverse proejcts, it is called Metacade and analysts are predicting a rosy future for it as well but let’s go back to The Sandbox.
The Sandbox (SAND) is an open metaverse in which one can edit space and make money on the assets-game held, it is the best known of the metaverses along with The Nemesis and Decentraland.
Users have the ability to explore what is created by other users, and everything created whether structures or games are traded through NFT in the internal market.
Sandbox platform provides an internal marketplace in the metaverse where NFTs, assets or games can be traded.
Sandbox gives the possibility through a simple kit to develop games at will even if the user does not have skills from an electronic programming perspective.
Gamers or investors in general earn SAND tokens with each transaction.
Meanwhile, the developers of The Sandbox are working steadily to improve important aspects of the metaverse such as game fluidity, graphics, transaction speed, and include increasingly high-level games thanks in part to Engine 5.
SAND is far from its all-time high of two years ago and as of today is at a minus -94% from that performance.
However, while analysts predict that the token will gain over time, they specify that this recovery in value will be slow and steady, and not sudden as many parties hope.
Experts value SAND in a range from US$0.76 to US$1.87 for this year.
The reasons for Sandbox’s recovery stem from its partnership with Gala Games, which has also seen its GALA token grow by 230%.
Gala Film and Sandbox reported the presentation and financing of The Rock’s (Dwayne Johnson) new film as well as a collaboration with actor Mark Wahlberg.
SAND has also grown a lot because of the many promotional events that have prompted its adoption such as the MetaGreen that will run until 28 February.
The MetaGreen raffles off 50,000 SAND and stays at Regal hotels.
In addition to MetaGreen the next ones will be the Council of Fashion Designers, SMCU Palace and Carrefour.
For investors, Jerome Powell‘s Fed will implement less aggressive monetary policies this year, which will benefit the market.
For 2023, the US Federal Reserve in the words of President Jerome Powell’s latest speech hinted that it will observe a less hawkish line.
The results are coming in and analysts agree that although the focus remains very high, inflation will be fought by softer rate hikes (in the range of 50 bp) and not by 75 bp as last year.
This news contributed to the breath of fresh air in the markets, which expect a better-than-expected 2023.
The week just ended gave us one piece of good news, new data on US inflation.
The CPI, which had touched 7.1% in the last survey, fell to 6.5 % in December, and this contributed to the big upward push of almost all crypto projects and the stock market in general in this beginning of 2023.
According to experts, Sandbox will not stop its run and will aim straight for the next resistance that is set at $0.90, which is 23% higher than the price of the token now.
SAND as of today has a market value of $0.72.