The metaverse was one of the biggest crypto and blockchain niches during the last bull run.
Everything from games to virtual concerts, to lecture halls was built on top of this highly impressive blockchain application.
The metaverse was so popular between 2021 and 2022, that celebrities like Snoop Dogg bought some land and built the "Snoopverse,", Paris Hilton built built "Paris World,", and even Justin Bieber held a virtual concert on the Wave platform.
Very recently, metaverse technology is coming back, and Forbes, the media giant, is the latest investor.
According to reports, Forbes has just decided to join The Sandbox metaverse.
The company reportedly bought what it calls "Permanent Land" in the metaverse, marking its "deeper dive" into the Web3 space and solidifying what it calls its "belief in the transformative potential of the metaverse".
The reports also state that the virtual land that Forbes acquired will serve as a community hub in which visitors can interact, engage with one another and collaborate, among the Forbes Web3 community.
Forbes states that this new venture will serve to establish its presence in the virtual world, which already has millions of users and creators.
Forbes also aims to showcase its brand and its values, in this new virtual land that will include various features that reflect its identity.
For example, the hub is set to have a luxurious pool, a massive bar, and an art gallery that will display the Forbes 2024 Under 30 recipients.
The hub will also feature interactive experiences for visitors, such as a scavenger hunt with QR codes that will lead participants to exclusive content and insights from the company.
The Sandbox or $SAND has reacted positively to the news and has increased in price by about 2.5% over the last day, and more than 12% over the last week.
According to the cryptocurrency's price chart, $SAND is incredibly bullish, but could be even more so, if we see a break above the $0.5235 zone as shown below.
We can see according to the chart above, that the cryptocurrency is struggling to break above this price level and reclaim the $0.68 high from 26 December, last year.
If we see this price breakout from here, the SAND bulls might have all the momentum they need to push the cryptocurrency into a retest or even a break above the $0.68 resistance.
From here, the cryptocurrency will be free to target the $0.95 resistance at least, for the first time since February 2023.
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