The Sandbox, a global leader in the metaverse, has made a significant announcement regarding the acquisition of popular meme coins such as Shiba Inu, Pepe, Degen, and Dogecoin.
The Sandbox aims to show support for the communities of these meme coins, enhance their presence in Web3 culture, and offer utility to users, leading to speculation about a possible SHIB-powered metaverse.
As the top metaverse and Web3 gaming platform, The Sandbox recently acquired some of the most prominent meme coins including Dogecoin, Shiba Inu, and Degen.
Originally established as a Web2 gaming platform more than a decade ago, The Sandbox transitioned to Web3 and operates as a decentralized gaming ecosystem. Built on Ethereum, it enables users to purchase digital real estate called LAND to create and share experiences with others. The platform is fueled by the SAND token and supports blockchain features like NFTs.
The Sandbox’s recent acquisition of six major meme coins was met with enthusiasm, with the platform expressing excitement to integrate their unique cultures into their ecosystem.
In addition to the well-known Shiba Inu and Dogecoin, The Sandbox added Pepe and Bonk, which have shown strong performance in recent market trends. Pepe notably surged by over 800% year-to-date.
The platform also acquired Degen and Memecoin, two newer meme coins, further diversifying their portfolio.
Speculation arose following The Sandbox’s acquisition of meme coins, hinting at potential new features that could incorporate them into the metaverse. While details remain undisclosed, the platform hinted at future plans to leverage the meme coin collection for engaging initiatives that provide additional utility for users within The Sandbox community and the broader meme coin community.
The integration of meme coins into the metaverse would be a significant development for SHIB, which continues to expand its utility. SHIB recently became a payment option on DevourGO, allowing users to pay for food delivery services with the meme coin.
Currently, SHIB is trading at $0.00001858, showing a slight gain of under 1% in the past day. Despite a slight dip in market cap below $11 billion, the trading volume has decreased by 39% to $288 million.
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