Ledger and The Sandbox announced their partnership on April 4. Well, through this partnership, Ledger will provide security support to Metaverse. Ledger, known for its hardware wallets, is considered one of the safest systems for crypto investors. Therefore, it can be expected that this partnership will enhance investors’ confidence in The Sandbox.

The Sandbox Concern Is Not Security

However, security is not an issue for The Sandbox at the moment. Its problem is lack of interest. At the beginning of this year, The Sandbox added 25.5k new accounts and skyrocketed to 35.9k in February.

But from March onwards, new investors seem hesitant to join the network. As a result, it saw just over 23,000 newcomers join The Sandbox.


Sandbox Monthly Account | Source: DeFi Llama

One can blame the stagnation in the price action, which has been stuck in a 4% range, with the upper and lower bounds $0.2 apart.

And this is unlikely to change unless the market observes an abrupt start to the rally. Currently, the broader market is in a bearish mood after several coins hit overbought territory earlier this week.


SAND/USDT Daily Chart | Source: TradingView

Plus, in the case of The Sandbox, it gets even tougher as its volatility seems to be dwindling.

Usually, that is a good sign for investors as price movements remain under control. But since SAND needs the opposite right now, a little higher volatility could put it in the right place to see an uptick.

However, even if investors start to take an interest in SAND, we cannot be sure how many people will join the Metaverse because sales and LAND (land) price are decreasing month by month.

Although the total number of plots sold and the cumulative volume from sales peaked in November, the highest average price at which a plot can be sold is in January.

Since peaking at $13.5k, the price has only dropped first by $330 in February, then by $2.7k in March and this month the value of each piece has dropped to around $4.8k in time of writing.


Sandbox Average Land Price | Source: Dune

But as mentioned before, price does not dictate the demand for land. Notably, November recorded its highest revenue ever, generating $142 million, while March recorded only $28.5 million in revenue.


Sandbox Monthly Revenue | Source: Dune

The reality is that Metaverse hype has reached new highs in recent weeks with corporations, sports clubs, and A-list celebrities entering the virtual world.

So what Sandbox needs at the moment is demand, which can only be generated from outside developments.

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