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I thought the Sandbox had a great metaverse and business model, but people just aren't ready for it I think. Maybe in 8 more years the tech and community will have evolved to take advantage of the metaverse, but right now it's pretty much a zombie hoping to be brought to life.
The beginning of the emergence of metaverse projects was indeed very hype and at that time it was still the metaverse season,
metaverse crypto projects such as Decentraland (MANA), Sandbox, Axie Infinity, Roblox etc which had many enthusiasts at that time,
but now it has faded and even, as the OP said, the price of the coin has dropped very drastically and there is no interest.
The metaverse is abandoned by its users because it is not perfect and still needs a lot of development in AR and VR technology, which then all trends shift to AI until now.
And maybe yes 8 years or even less the metaverse could be alive again with technology that is more ready with the help of AI today, moreover there are many devices that support the metaverse today,
If it arrives, then metaverse-based crypto projects will come back to life as well.