The Sandbox’s 10-week Alpha Season 3 concluded Nov 1, and, as promised, beneath is the comparative information and evaluation of the three Alpha Seasons up to now.
Although elsewhere you might discover evaluation of the Seasons from a gaming, participant and/or rewards earned perspective, right here at OneLand, we break down the influence on the LANDs market.
All Alpha Seasons offered Play-2-Earn incentives for holders of Alpha Passes, which could possibly be obtained both by means of holding LAND, getting into Season Raffles, collaborating in social contests or shopping for off OpenSea.
Alpha Season 1 kicked off on Nov 29, 2021 following 4 years of improvement and ran for 22 days. Coinciding fantastically with Fb’s rebranding to Meta one month earlier, it immediately propelled The Sandbox into one of many world’s hottest blockchain video games.
The 7.5-week interval from Fb’s rebrand up until the top of AlphaS1 noticed The Sandbox’s most explosive interval of development up to now. Honing in on the Season itself, LAND cap and LANDholder numbers rose 46.8% and eight% respectively in simply 22 days, whereas each day common volumes reached 830 ETH.
Notably, $SAND hit its ATH of $8.44 simply 4 days previous to the Season’s launch and spent the 22 days correcting, falling 34%.
By the point Alpha Season 2 rolled spherical on Mar 3, SAND’s worth and market cap had corrected considerably, whereas The Sandbox’s LAND cap had simply hit its ATH of 379,546 ETH per week earlier than.
The Sandbox’s current market surge had been dramatic and recognition within the mission was surging. So although LAND-holder numbers had been nonetheless rising, the velocity at which they had been doing so was slowing, and the market would want extra time to comprehend this was going to be far worse than a correction.
The market was slipping. The typical value of LAND over AlphaS2 had been 0.45 ETH larger than, although gross sales numbers had been lower than 1 / 4 of, these of AlphaS1.
This time spherical, the Season included twice the variety of experiences, and (maybe studying classes from its final Season) granted full entry to Alpha Move holders and non-holders alike. Moreover, it afforded gamers an additional week of game time to relish the expertise.
However, deteriorating market situations had been a spanner, and regardless of spiking volumes on the Season’s kick-off date registering its highest each day quantity in a fortnight, AlphaS2 was not even near recording wherever close to the success within the LANDs market of AlphaS1.
Alpha Season 3 was by far the most important, most accessible, most rewarding and longest-running Season up to now. It kicked off deep in the midst of a crypto winter with The Sandbox’s LANDs cap in free-fall, hitting a low on the primary day (in ETH phrases – 200,265.38 ETH) not since (aside from sooner or later in Might) for the reason that first day of Alpha Season 1 on Nov 29, 2021. Issues had been about to worsen.
Zooming out on the 10-week AlphaS3 within the context of the previous 12 months, and some issues develop into clear.
First, the Season’s launch did not stem an additional harmful downturn within the LANDs market, famous in its continued decline in LANDs cap and common value.
Second, if the present bear market was not dangerous enough, even falling token costs (ETH crashed 29%, and SAND fell 17% in an 11-day interval from pre- to post-Merge) nor a depreciating common value may rally the consumers. That was, till a LANDholder-exclusive staking program that kicked off on Sep 22, together with scrumptious incentives of three million $SAND, provoked spikes in quantity and gross sales that led to a rejuvenation throughout main metrics for the primary time since July.
The one metric that suffered throughout your complete 10-week AlphaS2 was the variety of holders of LAND. Holder numbers had peaked again on Might 18 at 22,262 and since dropped to 19,596 by the primary day of the Season. And the primary 4 weeks (Aug 24-Sep 21) noticed a marginal improve in distinctive holders of LANDs, up 0.22% to 19,716.
However as quickly because the staking program launched, numbers crashed – from Sep 22 to the top of the Season, holder numbers fell 9% to achieve its lowest determine since January. The staking program introduced dwelling the reality of who was shopping for LAND throughout AlphaS3 and it was not new traders to The Sandbox, however present holders consolidating their positions. Throughout the ten weeks of the Season, distinctive holders fell 8.4%.
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