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The worst performers in the recent cryptocurrency bear market were last year’s winners, which included metaverse and non-fungible tokens. Two projects that will be looking for a resurgence in fortunes for those sectors are ApeCoin (APE) and The Sandbox (SAND). ApeCoin has tapped into the popularity of Bored Ape Yacht Club NFTs, while The Sandbox joined the rally for metaverse projects when Facebook announced its Meta rebrand.
Another new project also operates in the NFT space and will later pivot to the metaverse. Chronoly (CRNO) which mints NFTs for underlying investments in the luxury watch market. Its metaverse ambitions could see partnerships with some of the world’s top watchmakers.
ApeCoin (APE) investors will be looking for a revival in the price of non-fungible tokens to spur new highs in the project. Investors saw the coin rally to USD 26.00 at the tail-end of 2021, but the price has slipped below USD 5.00 with the downturn in NFT prices. The reality for APE investors is that speculative interest drove the previous highs but the project has the potential to add value with continued NFT interest and the potential for the project to unearth another money-spinner like the Bored Ape Yacht Club.
The Sandbox (SAND) project will look for a rebound in metaverse fortunes after a dip from the Facebook-driven highs of late November. The price of SAND rallied to highs of USD 8.40 before dropping back to now USD 1.16. The Sandbox is fully immersed in the metaverse and sells plots of virtual land which were snapped up at the end of 2021 as metaverse hype took hold. A recent development for The Sandbox saw two
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