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Just days after significant giants like Meta and Microsoft announced the launch of the Metaverse Standards Forum, The Sandbox's SAND token increased by about 20 percent.
According to statistics from CoinMarketCap, SAND gained 19% in the previous 24 hours, reaching $1.31 at the time of writing. Similarly, Decentraland's MANA token increased by about 9 percent to $1.02 within the same period.
The Sandbox and Decentraland are Ethereum-based games in which users may purchase virtual land plots, often for millions of dollars, and each game stands to gain immensely if the metaverse, an immersive NFT-based future internet, develops as prophesied by many.
According to speculations, each might potentially be a takeover target for a well-established tech firm.
Sebastien Borget, co-founder and chief operating officer of The Sandbox, stated today, and not for the first time: No.
The declared objective of the Metaverse Standards Forum unveiled on Tuesday and including Alibaba and Sony, is to encourage coordination and collaboration among the hundreds of corporations striving to create a presence in whatever the metaverse becomes.
Many Web3 community members remain dubious. Danny Greene, general manager of Meebits DAO, told Decrypt, “At the end of the day, we’re fighting for a decentralized future, and these are corporations that are representing shareholders.”
Yat Siu, founder and executive chairman of Animoca Brands, a $5 billion software and venture capital company responsible for multiple metaverse ventures, including The Sandbox, has previously referred to Meta’s goals as “digital colonialism.”
