Ledger and the sandbox announced a partnership on April 4. Well, through this partnership, Ledger will provide security support for the Metaverse. Ledger, known for its hardware wallets, is considered one of the most secure systems for crypto investors. It is therefore expected that this collaboration will increase investor confidence in The Sandbox.

The threat to The Sandbox is not security

At this point, however, security is not the issue with The Sandbox. The problem is a lack of interest. Early this year, The Sandbox saw 25.5k new accounts, rising to 35.9k in February.

But as of March, new investors seemed hesitant to join the network. As a result, SAND saw just over 23,000 people jump into The Sandbox.

The Sandbox Monthly Accounts | Source: DeFi Llama – AMBCrypto

You could blame it on the stalled price action, which is stuck in the same 4% range, with a $0.20 difference between the upper and lower limits.

And this cannot change unless the market perceives a sudden rally kickstart. Right now, the broader market is in a cooling state after several currencies invaded the overbought zone earlier this week.

The Sandbox price promotion | Source: TradingView – AMBCrypto

Moreover, in the case of The Sandbox, it seems even more difficult as its volatility seems to be decreasing.

This is usually a good sign for investors, as price swings remain under control. But since SAND needs the opposite right now, slightly higher volatility could put it in just the right spot to witness a rise.

But even if investors return to trade SAND, one can’t be sure to what extent they will be willing to participate in the Metaverse as LAND sales and prices deteriorate by the month.

Although the total number of plots of land sold and the cumulative volume generated from the sales peaked in November, the highest average price for which a plot of land could be sold was in January.

Since peaking at $13.5k, prices have fallen by $330 first in February and then $2700 in March, and this month the value of each lot has fallen to $4.8k at the time of writing.

The Sandbox LAND average price | Source: Dune – AMBCrypto

But as mentioned before, the price does not determine the demand for the LAND. Notably, November recorded the highest-ever sales, bringing in $142 million, while March posted just $28.5 million in parcel sales.

Sandbox’s monthly sales volume | Source: Dune – AMBCrypto

This is despite the fact that the hype of Metaverse has reached new heights in recent weeks with companies, sports clubs and A-list celebrities taking part in the virtual world.

So what The Sandbox needs right now is a more lucrative value that can only be generated by external developments.

This post Why SAND’s ‘Investor Interest’ Need Is More Important Than Ledger’s ‘Security’

was published first on https://ambcrypto.com/why-sands-investors-interest-need-is-more-vital-than-ledgers-security/


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