On February 4, according to the Twitter “big V” account NFT Ethics, there are unconfirmed rumors that Meta (formerly Facebook) is about to acquire The Sandbox. Shares of Meta plunged 26% after the disappointing earnings report, the biggest one-day drop in the market value of a U.S.-listed company.
In contrast, Web 3 metaverse projects have been doing better recently, such as Ethereum metaverse platform Decentraland (MANA), which has risen more than 20% in the past 7 days, surging from a 7-day low of $2.19 to $2.60 support bit.
The Sandbox (SAND) surged 17.5% to $3.6 support in 7 days. Shortly after NFT Ethics released the news, Yat Siu, co-founder, executive chairman and managing director of Animoca Brands, the parent company of The Sandbox, responded that Meta’s acquisition of The Sandbox was not a fact, but Animoca Brands has not yet commented on the matter. .