MANA and SAND have added thousands of percentages to their values since the start of the year, and they are now amongst the top 100 cryptocurrenci
MANA and SAND have added thousands of percentages to their values since the start of the year, and they are now amongst the top 100 cryptocurrencies by market cap. Their adoption didn’t kick-off at the start of the year, but they grabbed attention towards the end of 2021.
Perhaps the major catalyst behind MANA and SAND’s rally is social media giant Facebook’s rebranding to Meta, indicating that it will expand its portfolio to enter the metaverse space. The move prompted massive adoption of metaverse-focused tokens such as SAND, MANA and several others.
From the start of the year, MANA was trading below the $1 mark, briefly climbing above that threshold in May. However, the coin rallied in October following Facebook’s announcement, rising to its all-time high above $5 within a few weeks. Over the past 52 weeks, MANA’s price is up by more than 4,000%, outperforming numerous coins in the process.
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In November, Tokens.com, a Canadian investment firm that focuses on decentralized finance (DeFi), purchased virtual real estate on the Decentraland platform for roughly $2.5 million. The sale was one of the biggest in the history of the metaverse space. Popular gaming hardware company GameStop also announced earlier this month that it would start accepting MANA, SAND and a few other cryptocurrencies as means of payment for its products.
SAND is not left behind in terms of adoption. The token’s price has surged by thousands of percentages since the start of the year and is now one of the top 100 cryptocurrencies by market cap. SAND has benefited immensely from Facebook’s entry into the metaverse space, with its price up by more than 900% since the announcement.
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MANA and German sports apparel manufacturer Adidas announced its partnership with The Sandbox last month as it became the latest corporate entity to venture into the metaverse space. Also, in November, The Sandbox launched its Metaverse Alpha, an open multi-week Play-to-Earn event where players would have the opportunity to explore The Sandbox Metaverse.
Another huge development that saw SAND rally towards the end of the year was the adoption by PwC. PwC Hong Kong, a subsidiary of Pricewaterhouse Coopers, announced a few days ago that it had purchased land in The Sandbox metaverse. PwC Hong Kong intends to construct a Web 3.0 advisory hub in the metaverse, which will provide numerous professional services that include accounting and taxation. Heading into 2022, SAND is trading close to the $7 mark, outperforming numerous coins over the past 12 months.
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