SAND Nearly 20% Increase In Wake Of Tech Giants Metaverse Announcement

Sandbox COO said again on Saturday that Meta’s capture “will never happen.” SAND was growing anyway.

Sandbox’s tokens, just days after tech companies including Meta and Microsoft announced the creation of something called the Metaverse Standards Forum, rose by nearly 20%.

In the last 24 hours, the price of SAND tokens has risen 19% to $1. Similarly, during the same period, Decentraland’s MANA tokens increased by nearly 9% to $1.02.

The Sandbox and Decentraland are projects developed on the platform of the Ethereum ecosystem, in which users can buy virtual land plots — sometimes for millions of dollars — and each game can benefit greatly if Metaverse, a future internet network based on NFT, thrives in the way many have predicted. It could have been the takeover target of a tech giant with a name and rumors.

The stated goal of the Metaverse Standards Forum announced on Tuesday, including Alibaba and Sony, is to foster coordination and collaboration among hundreds of companies that are currently joking about establishing themselves in whatever Metaverse becomes.

Many people in the Web3 community are still skeptical. Danny Greene, general manager of MEEBITS DAO, told that: “At the end of the day, we are fighting for a decentralized future, and these are corporations that represent shareholders.”

Founder and executive president of Animoca Brands, the $5 billion software and venture capital company behind many Metaverse projects, including The Sandbox, previously called Meta’s ambition “digital colonialism.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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