Here’s why Decentraland (CRYPTO:MANA) and The Sandbox (CRYPTO:SAND) are two top tokens for investors looking to play the metaverse.
The story for cryptos is a bit different this year in comparison to the rally of 2021. While we’re seeing some positive movement among top tokens of late, it’s been a dismal year for most cryptocurrencies.
That said, given the historical moves in crypto, perhaps this down market is an opportunity to pick up growth assets at a discount. For those looking for higher-leverage moves, the metaverse is one place that has gained attention.
In this space, The Sandbox (CRYPTO:SAND) and Decentraland (CRYPTO:MANA) are among the top tokens to consider. Let’s dive into what these crypto projects have to offer.
Top tokens to play the metaverse: The SandboxThe Sandbox is popular for its two major mobile hits: The Sandbox Evolution (2016) and The Sandbox (2011). These two virtual world games have combined for more than 40 million downloads on Android and iOS, as of mid-May.
Interest around The Sandbox’s apps has been driven by big-name brand partnerships. Snoop Dogg owns space in The Sandbox. And other franchises, such as The Walking Dead, have joined in as well. Thus, the hype train has been running hot for some time.
Now, despite the allure of these virtual worlds, SAND tokens have been hit hard of late. Currently trading around $1.30 per token, this cryptocurrency is now down nearly 85% from its peak last year. That’s a dramatic drop, and one which has not enticed new capital into this project.
On the one hand, this decline could be viewed as the market’s consensus that the metaverse isn’t a place to invest right now. On the other, for those who believe in the future of the metaverse, this could be a great buying opportunity.
Thus, the question remains as to whether interest will come back to this niche area of the crypto market. If it does, The Sandbox is a project to keep an eye on.
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