Before opening bell, stocks were on track to log their best weekly performance in more than a year after a robust rally over the past few days. As of Thursday’s close, the Dow was up 4.7% for the week, the S&P 500 had gained 4.9%, and the Nasdaq stacked on an impressive 6%. Will the gains stick heading into the weekend? Only time will tell.
There is a lot of excitement over the metaverse right now, and justifiably so. The rapid growth in augmented reality/virtual reality (AR/VR) supports the belief that the metaverse is much more than a fad, it’s a structural long-term trend that’s here to stay, and the potential is enormous.
Lately, crypto enthusiasts have taken a shine to purchasing virtual assets like plots of land in the fictional gaming world. Virtual real estate deals are even outshining real-world deals. In November, a piece of land exchanged hands for over nearly $2.4 million worth in metaverse tokens, inspiring a buying frenzy of the biggest metaverse-related digital currencies. But as investors take an increasingly bearish view of the overall market, especially high-flying growth sectors, metaverse-related digital currencies have also taken a plunge.
The metaverse is still in its infancy, which means there is a ton of room for growth. Taking a longer-term view of where these metaverse tokens could be headed, investors may start to look at this sell-off as representative of a potential buying opportunity. Today we’re featuring a metaverse currency that trades for less than $5. Recent price movement relative to changes in volume and market cap could be pointing to a sweet spot for anyone looking for an entry into the metaverse’s unimaginable potential.
Sandbox (SAND) is the Ethereum based native token behind the virtual world of the same name where users buy goods and services, including terrain plots called ‘LAND’ on which to develop and monetize content. Owners of in-game LAND use their space to create and monetize interactive play experiences using SAND. Sandbox publisher Animoca Brands held its first public ‘LAND’ sale on February 11th, following several sold-out presale offerings. Several notable brands are already staking their claim through partnerships with Animoca, including The Smurfs, Atari, Warner Music Group, Adidas, Gucci, Snoop Dogg, The Walking Dead and Ubisoft.
LAND sales have attracted several crypto “NFT whales” who see substantial future growth in digital property rights after Animoca announced it has partnered with crypto tracking and market analysis site CoinMarketCap to promote and incentivize the first public sale by including NFTs inspired by CoinMarketCaps brand. Buyers are rewarded with NFTs of varying value, contingent on the amount of land purchased.
The blockchain gaming company gained attention this week after announcing its partnership with HSBC Bank, where the bank will buy the virtual plot of land in the metaverse and plans to develop it to attract and engage sports, e-sports, and gaming fans. The news boosted the token price to $3.34 before cooling down to its current price.
SAND tokens have slid 60% since the November high of $7.49 per token but are still up more than 400% for the past year. Like most investment options available in the cryptosphere, SAND is prone to drastic swings and is only recommended for investors with a high tolerance for volatility. The immense world of untapped possibilities makes this micro currency hard to ignore at its current level.
Where to invest $1,000 right now...
Before you consider buying SAND, you'll want to see this.
Investing legend, Keith Kohl just revealed his #1 stock for 2022...
And it's not SAND.
Jeff Bezos, Peter Thiel, and the Rockefellers are betting a colossal nine figures on this tiny company that trades publicly for $5.
Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
Click here to watch his presentation, and decide for yourself...
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.
Click here to find out the name and ticker of Keith's #1 pick...
