It seems that in a sea of red, some of the only green lights out there appears to be SAND.
I find this quite interesting as it ties into the news flash that I did last week (see above). As I mentioned in that, there is speculation currently that Adidas could be building something exciting in the Sandbox ecosystem.
As I mentioned in that newsflash, this could be tied to that announcement of the collaboration between Coinbase and Adidas.
Let's not forget that Coinbase is about to launch their NFT marketplace and there is great excitement around this marketplace.
Coinbase already has 2 million users that have waitlisted in order to use the NFT marketplace. So, if there is a great deal of demand in the Sandbox ecosystem perpetuated by the Adidas-Coinbase partnership, it will drive up demand for SAND.
If you have no idea what the SandBox is, there is a video that I released about two weeks ago that goes into its tokenomics.
Speaking of Coinbase's NFT marketplace, another really interesting mid cap project which you want to keep an eye on is Immutable X. They have developed an NFT layer-2 solution that leverages ZK-rollups to help scale NFT transactions.
*Pure speculation* on my side, but if Coinbase is going to be looking for an integration that can help to reduce gas fees for NFTs, this could be one. You also have to consider that Coinbase Ventures have invested in Immutable X so it would no doubt be one of the first L2 integrations that they should consider.
I will be taking a deeper look into both Metaverse plays and NFT Layer 2s in due course