The Sandbox universe is having a land sale in the Mega City 3 location and launching a new NFT collection
The Sandbox universe is launching a land sale in a new location in the virtual world of Mega City 3, which is inspired by the megacities of China.
The new virtual space will open on April 26 .. To celebrate the launch of the new location, The Sandbox will hold a raffle in which users will be eligible to buy land at a lower price.
The results of the contest will be announced on May 11 at 14:00 Moscow time, and the purchase will be available until May 15.
In order to participate in the sale, users must be verified.. In total, The Sandbox will hold two sales: with regular and premium participants. The site location will be randomly determined for each user.
In addition, The Sandbox has released a collection of premium non-exchangeable tokens (NFTs) with Chinese motifs.
The collection includes the character Angela Ho and her sword, the Macau Grand Prix album, a racing helmet, an LED sign, the superhero Kin Bao, a bot and other characters.
The Sandbox ramps up sales
Few months ago, the meta-universe recorded sales growth across the board, with NFT up $1.4 billion in sales and 18% year-over-year growth.
The Sandbox had a market capitalization of $167 million or more across all meta-universe platforms.
More importantly, The Sandbox came in first in terms of the number of NFT holders.
At the same time, more than half of them are confident in the prospects of the project and intend to keep the tokens. Their total number was more than 17,000.
In total, they were more than 17,000.
Investment in meta-universes has collapsed
Despite the success of The Sandbox, however, venture capital firms are stopping investing in meta universes, preferring artificial intelligence.
According to Alphasense, investors spent up to $2 billion on meta-universe projects in 2022, but since the beginning of 2023, the amount of investment has dropped to $586.7 million.
In fact, last year, AI startups raised a total of $612.8 million, and in the first three months of 2023 – $2.3 billion.
In addition, business interest in meta-universes is also waning. Last year the word “meta-universe” was mentioned on 234 investor conference calls, and in the first quarter of 2023, it only appeared on 63 calls.