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    Home » News » Metaverse Tokens Including SAND And MANA Are Still Gaining Value

    Metaverse Tokens Including SAND And MANA Are Still Gaining Value

    By OlaNovember 25, 2021Updated:January 31, 20232 Mins Read

    At a time when the prices of other tokens are somewhat unstable, metaverse tokens are presently seeing big increases in value. Indeed tokens that are tied to metaverse platforms are enjoying a surge at this time. Specifically the SAND and MANA tokens of popular platforms The Sandbox and Decentraland have gone up significantly over the past week.

    Promo image for The Sandbox metaverse
    The Sandbox has seen the value of its token “SAND” go up almost 80% over the past week. Credit: The Sandbox

    What Is Causing The Rise Of Metaverse Token Prices?

    The price increases of SAND and MANA are particularly impressive. To be sure, The Sandbox and Decentraland are without a doubt two of the biggest names in the space. Even so, it is the similar trends in so many metaverse tokens that really speaks to current rise of the market as a whole.

    Overall there doesn’t seem to be a single reason for the price increases. Nevertheless, there are certainly a few key factors driving the growth. For one thing, there is the recent news from Meta, formerly known as Facebook. Indeed, when the company announced its rebrand, it had a large impact on the market, especially on SAND. At the present time the price of that token is up nearly ten times what it was on the day of the announcement.

    Screen grab of CoinMarketCap Metaverse board
    Many tokens on CoinMarketCap’s metaverse board are increasing in value at this time. Credit: CoinMarketCap

    At the same time there has been a lot of news coming from the companies themselves. Both The Sandbox and Decentraland have had an impressive run of high profile partnerships and there’s no signs of them slowing down any time soon. All in all, it is clear that there is mass excitement around the metaverse. This means good things for the companies leading the charge.

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

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    Ola

    Ola is a US-based writer and digital nomad. He loves thinking, learning, and writing about all things Web3, particularly its impact on major creative industries.

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