The concept of the virtual universe, or rather the metaverse, which has been talked about for a while, but especially with the move of Facebook, has deeply affected the crypto money world. Those who think that blockchain technologies will somehow integrate into the virtual universe are flocking to the market. Among them are large investors.
The SANDBOX or SAND project, which brought the concepts of Metaverse and NFT to life a long time ago, allows investors to prepare wide-ranging games. SAND, which also attracted the attention of investors, obtained a fund of $ 93 million from the group led by Softbank. This is the first time this group is investing in a project with its own currency.
With the arrival of the news, the already accumulated SAND increased by about 4 times and went up to the level of $ 3.5. The trading volume on the platform has exceeded the level of 150 million dollars. While the market value approached 3 billion dollars, the daily volume was 9.4 billion dollars. Again, for the first time, we saw a project with a volume/total value ratio of 3.8 units.
SANDBOX does not disclose how much total valuation it has, but states that it holds 22 percent of the total value. This means a figure of 1.6 billion dollars. Along with the metaverse wind, many projects such as SAND will also work.