The Sandbox Price Prediction Ahead of 348M SAND Unlock Schedule

    The 30th anniversary launch of the virtual world Sandbox on  February 14, 2023 will give seed and strategic investors 348 million SAND tokens ($179 million). According to the project’s tokenomic data, seed investors will receive just over 17% of the total SAND supply by August 14, 2023 according to the 12-month gap, while strategic sell investors will receive 4% on the same day.

    The unlock, scheduled for 8 a.m. UTC, will release about 12% of the 3,000,000,000 supply of SAND. SAND token has dropped nearly 94% from its all-time high of $8.4 to $0.52 at the time of writing. After 348 million SAND tokens are unlocked, SAND’s price is expected to fall to $0.4 and it might be a good time to buy SAND.

    Source: CoinMarketCap

    According to CoinMarketCap, trading volume increased by nearly two-thirds to over $540 million after the unlock on August 14, 2022. Data from TradingView at the time showed that most of the volume was due to a significant sell-off. The recent unlock also created a downtrend that caused SAND to lose nearly 60% of its value on Jan 10, 2023.

    However, the token then has gained 25% from $0.41 to $0.52 over the past 7 days, sparking hopes of a relief rally in the days leading up to the unlock in mid-Feb 2023.

    The Sandbox is a play-to-earn game that combines blockchain technology and NFTs in a 3D metaverse. SAND is the native token of the project. SAND holders are granted governance and can exercise voting rights on key features within the project’s roadmap. 

    Players use SAND tokens to play games, make in-game purchases and customize their avatars. SAND is also charged to upload ASSETS on the marketplace and purchase Gems that define an ASSET’s rarity and scarcity. 

    Singapore’s DBS Bank recently acquired LAND in The Sandbox that will allow users to experience building a better, more sustainable world. SAND’s trading volume across all exchanges over the past 24 hours was around $268 million.

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