The closely followed analyst and host of the popular Coin Bureau channel says that one metaverse altcoin has more potential than most crypto assets in the sector.
In a new video update, the pseudonymous analyst known as Guy tells his 2.07 million followers that while its price action has looked underwhelming for many months now, virtual world The Sandbox has solid fundamentals.
“SAND token is reportedly rallying because tech giants came together to see standards for the metaverse earlier this week. Now I would say this is bearish rather than bullish for crypto, but it seems that SAND holders disagree. It’s too bad that the SAND-castle has collapsed, and by that, I mean SAND’s price.
It’s a good thing that SAND has some actual fundamentals unlike most of the other metaverse cryptos out there. Not naming names.”
Last week, a large roster of tech giants and multinational corporations announced the creation of a “Metaverse Standards Forum” that aims to create global interoperability standards for the open metaverse. Some companies involved include Huawei, Meta and Microsoft.
The Sandbox also announced a partnership with media giant TIME last week that aims to recreate Times Square in Manhattan, New York inside its virtual world.
TIME CEO Keith Grossman said,
“We are thrilled to now tap into that community as we seek to find the architect to design TIME Square in the metaverse, as we create an immersive experience with The Sandbox that provides a natural bridge between the virtual community of TIMEPieces, the historical coverage and global relationships of TIME, the unique IP coming from TIME Studios, TIME for Kids, and our real-life IRL events.”
The Sandbox (SAND) has outperformed much of the crypto markets over the last seven days. While it is currently down 7% on the day at time of writing, SAND is still up 38% on the week, priced at $1.18.
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