Last year 2021, there were a series of commitments made by corporations and artists with the Sandbox metaverse.
Well-known artist, Snoop Dogg, purchased a virtual land and built a mansion in it. Hong-Kong based Real Estate company purchased a virtual land in Sandbox Metaverse. Last month Adidas Original purchased virtual land for branding or marketing or to sell NFTs inside Metaverse.
Sandbox metaverse is enriched with games, buy/sell NFTs, live concerts etc.; therefore, we are to see a rise in demand for SAND tokens with an increase in active users.
Plotting Fibonacci Retracements on the charts, it shows that prices have cooled off near retracement levels of 50% and 61.8% therefore when the demand for SAND tokens increases the price can surpass and reach above $10 and for long-term it can rise above $20.
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