The Hows and Whys of The Sandbox’s Recovery Roadmap

One of the leaders in the Metaverse, The Sandbox has experienced tremendous growth in recent months. The GameFi protocol announcing the release date and everything that’s coming in Season 2 will likely only drive this growth further. Still, it’s worth pointing out that the impact of this announcement goes beyond just gamers.

Season 2, here we go again…

Yesterday was the release date of the highly anticipated season 2 announced be March 3. An update to The Sandbox also revealed that: Snoop Dogg Avatars from his 10,000 NFT collection could also be played in the game.

While these updates serve as an incentive for gamers, the economic impact of the development will impact SAND investors worldwide. Mainly because market conditions have not been favorable for the currency lately.

Even at press time, the altcoin was Paint red candles as it fell 9.6% from yesterday’s highs. While price consolidation in the $2.8 to $3.3 zone is expected, some bullishness is also likely to emerge from this development.

The first sign of the same came from investor sentiment returning to the positive zone. While this has happened several times in the past, it never lingered there for too long.

Sandbox investor sentiment | Source: Santiment – ​​​​Coin-Crypto

Second, recent on-chain observations have shown that people are quite optimistic about the Metaverse and The Sandbox. In fact, they are simply looking for the most profitable opportunity.

For example, on Feb. 23, just after SAND marked a 9.3% rally, new balance sheet stocks shot up 9,000. Over the next 48 hours, transactions on the network peaked at 19.5K in one day, up from the 3K average.

The Sandbox on-chain transactions | Source: Intotheblock – Coin-Crypto

This is the kind of power the Metaverse has. The same can be verified by The Sandbox’s stats from the virtual world.

Everyone wants to play in The Sandbox

The recent explosion of interest in the Metaverse has led to an increase in average land prices, despite declining sales.

Land prices reached their ATH at $10,449 last month. In comparison, this month’s high is around $10,271. However, the number of plots sold this month has fallen to just 3,625.

At its peak in November 2021, The Sandbox sold more than 16,5,000 lots in a month.

The sales and rates of Sandbox Land | Source: Dune – Coin-Crypto

Regardless of sales, however, land transfers this month have nearly doubled from last month. This is an indication that sales among investors have increased, fearing the future of the market. This is picked up by optimistic investors who hope to profit from buying the dip when prices rise again.

Sandbox countries were transferred more than 92.7k times, which is significantly higher than the 52.8k in January. And it’s not very surprising either, as people will try to join in on the hype of the Metaverse, as The Sandbox has already sold about 64.4% of all its lots.

The Sandbox Country Transfers | Source: Dune – Coin-Crypto

Perhaps with the arrival of Season 2, the recovery would kick in and sales could hit their peak again.

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