As Bitcoin and Ethereum are seeing bullish momentum today, Metaverse crypto coins also show upward price movement. Today’s top-performing Metaverse crypto coin is Planet Sandbox, gaining over 85% in the past 24-hours alone. Let’s look at Planet Sandbox and its token  PSB and see why the price is rising so much.

What Is Planet Sandbox (PSB)?

Launched in October 2021, Planet Sandbox claims to be the biggest third-person sandbox game on the blockchain. It features a physics-powered sandbox shooting game enabling players to build and own arenas and fight other players using NFTs.

The game features several modes, including a building mode that enables players to customize every item in their inventory, a multiplayer mode where players can challenge other players, and a PvE mode similar to Tower defense, where the goal is to protect your base against zombies, soldiers, etc.

Every asset in Planet Sandbox is tokenized as an NFT, including buildings, furniture, landscapes, vehicles, weapons, armor, and NPCs. Each NFT has a different rarity defined by its properties and attributes.

The project is powered by the PSB and PULV tokens, with a play-to-earn model enabling players to earn tokens for completing in-game quests, battles, and more.

Both tokens are BEP-20 tokens, the difference being that PSB is used for in-game transactions, buying/creating NFTs, staking, and governance. PULV tokens can be earned by completing in-game quests, staking sPSB, and participating in the DAO.

Why Is Planet Sandbox Price Rising?

Planet Sandbox recently released their PC Version test on January 28th enabling players to test their game for themselves.

However, PSB’s price continued to decline until today, showing a slightly delayed market reaction to the release of PSB’s client.

In addition, the Planet Sandbox team has been highly active in the community, hosting a PC tournament with a total prize pool of 6120 PSB (roughly $2880 at writing).

There are three days left in the tournament, so if you’re looking for a chance to win the prize pool, now is the time to sign up.

With a market cap of $2.3 million, Planet Sandbox is a highly underrated project, especially given that there’s a Minimum Viable Product that players can check out.

The recent price hike is most likely due to the increased community support of the project, along with the upcoming end date of the tournament. The 24-hour trading volume of Planet Sandbox is also extremely healthy, with over $1.3 million traded in the past 24 hours.

You can purchase PSB on Gate.io, PancakeSwap, and Hotbit.

Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coin.

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