The Sandbox is one of the most prominent players in the crypto industry. Together with Axie Infinity and Decentraland, the network were the leading players in the gaming and NFT industry at their peak.
The Sandbox users slow
Recently, however, the ongoing crypto winter has affected the crypto gaming industry, with prominent platforms seeing slow user metrics. The most recent data by DappRadar shows that the network had just 2.85k Unique Active Wallets (UAW) interact with its platform in the past 30 days.
The number of transactions in the ecosystem jumped by more than 28% to 3.6k while the overall volume crashed by 15.5% to $2.26 million. Another crucial data shows that the total fiat value of coins in its platform has dropped by 0.58% to over $23 million. These numbers pale in comparison to what it had during it peak.
The Sandbox is not alone. Decentraland, a pioneer in its industry has done even worse. It had just 2.28k in Unique Active Wallets and handled 40.24k transactions. The total volume in its platform was just $19 million.
There are several reasons why Sandbox and Decentraland have seen their users crash over time. First, unlike during the pandemic, many people have now gone back to work and have less time to play.
Second, many Decentraland and Sandbox players have been disappointed by the relatively weak returns in the sector. MANA and SAND prices have plunged by over 80% from their peak.
Most importantly, interest rates have jumped to a multi-decade high as the Fed battles with high inflation. Riskier assets like Sandbox and Decentraland underperform in a period of high-interest rates.
Memeinator continues to outperform
Meanwhile, Memeinator, an upcoming meme coin has continued to defy gravity. The platform has raised over $695k in the past few weeks as investors continues accumulatioon. Their goal is that the price will surge once it is listed in key exchanges like Binance and OKX.
Memeinator is a meme coin that will combhine the aspects of gaming and artificial intelligence. These technologies will help to create utility in the ecosystem, making it one of the top-performing platforms.
Memeinator aims to take advantage of the hype that has pushed meme coins like Shiba Inu and Dogecoin to become the biggest players in the industry. It also aims to use technologies like AI to boost its market share and defeat existing tokens.
Most importantly, there is a likelihood that the MMTR token will do well in the next crypto bulll run. This run willl be triggered by a Bitcoin ETF, Bitcoin halving, and a change of tune by the Federal Reserve. You can buy MMTR token here.
The post As the Sandbox usage slows, is Memeinator the next big thing? appeared first on CoinJournal.
