Coinspeaker
Web3 Gaming Projects Set for $175M Token Unlock Schedule in February, SAND Price Slides
Several Web3 projects have been set for token unlock sessions in February. Tokens from gaming projects like The Sandbox are leading the pack.
205 Million SAND Token Unlocked
According to data from the crypto token tracking platform TokenUnlocks, 205.59 million SAND tokens were released into circulation on Wednesday at 9:00 AM (UTC). This is roughly $99.2 million in fiat value flowing into the ecosystem of the virtual reality gaming platform.
TokenUnlock revealed that 71.2M SAND (about $33.25 million), or 3.09% of the project’s market cap, was allocated to The Sandbox team. 37.5 million tokens (roughly $17.5 million) were allotted to project advisors, while 96.84 million SAND tokens – worth $45.2 million – were kept in the company’s reserves.
Today’s 205.59 million SAND tokens release represents 9.19% of the project’s circulating supply.
According to TokenUnlocks, The Sandbox
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