A handful of Fortune 500 companies have started to pour their investments into the Metaverse, Web3, and gaming ecosystem. The development is touted to be the future and could be worth $1.5 trillion by 2030, according to Grayscale’s report. One of the top Metaverse and virtual gaming platforms in the blockchain world is The Sandbox. Now that Facebook has rebranded itself as Meta and is working towards creating a Metaverse, there is an unconfirmed rumor that Facebook is planning to acquire The Sandbox Game.
Moreover, the rumors were already doing the rounds on social media and the voices are getting louder as each day passed. NFT Ethics, which covers “inconvenient truths about this digital kingdom” took to Twitter reporting about the same.
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“There is an unconfirmed rumor that Facebook is about to acquire @TheSandboxGame. It looks like regulation is coming sooner than later to this space,” the tweet read.
They had also previously tweeted. “Imagine a scenario of huge consolidation. Where 1 successful/rich NFT project buys up lots of other promising and undervalued NFT projects and then, after a year, decides to sell it all to Meta/Facebook, Microsoft, or any VC. From Web 3.0 to REKT 4.0. Welcome to The Metaverse 19.84.”
The idea is that there could be one rich NFT project buying all undervalued projects and could eventually sell it to Facebook, Microsoft among others. At the end of the day, multinational corporations could stand to benefit and reduce the existing players to irrelevance.
However, there is no official confirmation if Facebook is planning to acquire Sandbox. We’ll have to wait and watch for an official statement if the two are in talks about accusations or mergers.
Facebook Acquiring Sandbox Rumours
However, not everybody is happy with the Facebook plans of acquiring Sandbox rumors. “No one wants Facebook or Meta here. If this does happen, I really wonder what happens to the $SAND platform. Maybe it’s time for @SnoopDogg to tell his land and go to @decentraland,” tweeted David Gokhshtein.
A user agreed to his tweet that the space was created to get away from corporate greed in the first place. “I agree with you, David. We don’t want or need Facebook/Meta in this space. This space was created to GET away from the greedy corporate social media platforms that have made billions of dollars off of PEOPLE with so little given back in return.”
At press time, Sandbox was trading at $3.66 and is down -8.07% in the 24-hours day trade.