SAND and MANA are now two of the most prominent initiatives in the metaverse realm, and their strong momentum may continue throughout the following year.
The metaverse is one of the greatest developments in the bitcoin industry this year. The metaverse received little attention earlier this year, but it erupted into the forefront in the second half of 2021 as investors capitalized on the shift in dynamics.
MANA and SAND Increase by tens of thousands of percent
While the market’s attention is focused on the largest currencies, such as Bitcoin and Ethereum, several smaller coins consistently beat them. SAND, the native token of The Sandbox platform, and MANA, the native token of Decentraland, are among the greatest performances in 2021.
MANA and SAND have increased their prices by hundreds of percentage points since the beginning of the year, and they are currently among the top 100 cryptocurrencies by market cap. Their adoption did not begin at the beginning of the year, but they drew notice near the end of 2021.
The renaming of social media behemoth Facebook to Meta, hinting that it may extend its portfolio to include the metaverse domain, might be a big trigger for MANA and SAND’s climb. The shift resulted in widespread acceptance of metaverse-focused tokens such as SAND, MANA, and others.
MANA has been trading below the $1 barrier since the beginning of the year, briefly rising over that level in May. However, following Facebook’s announcement in October, the token surged to an all-time high above $5 in a few of weeks. MANA’s price has increased by more than 4,000% in the last 52 weeks, exceeding several other currencies.
Tokens.com, a Canadian investment business specializing in decentralized finance (DeFi), paid around $2.5 million for virtual real estate on the Decentraland platform in November. The transaction was one of the largest in the metaverse’s history. GameStop, a popular gaming hardware retailer, also announced earlier this month that it will begin taking MANA, SAND, and a few other cryptocurrencies as payment for its items.
In terms of adoption, SAND is not lagging behind. Since the beginning of the…