Cardano’s entry into The SandBox Game signals a new era for NFTs

• Cardano’s Clay Nation NFT will integrate into The Sandbox Game.
• NFT sales volume on Cardano in the last 30 days has been behind that of Ethereum and Polygon.

In a historic move, Cardano’s Clay Nation NFT project is set to be integrated into The Sandbox Game, marking the first time a Cardano project will be integrated into the popular blockchain-based game. 

With the integration of Clay Nation into The Sandbox Game, players will be able to showcase and trade their Clay Nation NFTs within the game’s virtual world.

This announcement has generated significant buzz in the Cardano community and is being seen as a major milestone for the blockchain’s growing NFT vertical.

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NFT sales on Cardano network so far this year

According to data from Cryptoslam, NFT sales on the Layer 1 (L1) network have totaled $23.99 million since the year began. In January, Cardano logged a total sales volume of $14 million, with over 150,000 NFT sales transactions completed.

So far this month, the network has seen a total sales volume of $9.89 million, and 111,141 NFT sales transactions have been completed in the last 26 days. 

Over the past month, Cardano has recorded NFT sales volumes of $11.95 million, placing it fifth in the ranking of blockchain networks with the highest NFT sales volumes.

This puts it behind Ethereum, Solana, Polygon, and ImmutableX, indicating that while it is a growing player in the NFT space, it still has some ground to cover to catch up with the top four blockchain networks in terms of NFT sales.

Source: Cryptoslam

Although the community responded positively to the announcement of Clay Nation’s integration into The Sandbox, there has been no significant increase in the purchase of assets from the NFT collection.

According to data from DappRadar, only 12 unique active wallets interacted or conducted a transaction with the project’s smart contract in the last 24 hours. Similarly, the transaction count declined by 12% within the same window period.

With $213.69 recorded as the fiat value of all incoming transactions involving Clay Nation in the last 24 hours, this has suffered a 72% decline.

Source: DappRadar

ADA in the last 24 hours

At press time, ADA exchanged hands at $0.3635. Its price grew by a mere 0.5% in the last 24 hours, while trading volume decimated by almost 30%.

This hinted at buyers’ exhaustion in the market. Fewer buyers equal a decline in available liquidity, and this is often followed by a price drawdown.