Ethereum

Virtual Land adjacent to Snoop Dogg’s Sandbox Estate sells for $450K Ethereum

Virtual Land Adjacent to Snoop Dogg's Sandbox Estate Sells for $450K in Ethereum

The American rapper Snoop Dogg announced at the end September that he had acquired land in The Sandbox, a blockchain-based virtual world. He also plans to rebuild his home. The Sandbox hosted a “Snoopverse Land Sale” on December 2, which allowed participants to buy land next to the hip-hop star.

Plot of Land Next to Snoop’s Virtual Mansion in The Sandbox Metaverse Sells for Six-Digits

Two days ago, The Sandbox disclosed it was selling virtual plots of land that are located next to Snoop Dogg’s virtual property. Snoop has been a cryptocurrency advocate for quite some time and in recent days, he revealed he was a non-fungible token (NFT) whale called “Cozomo de’ Medici.”

Then at the end of September, Snoop partnered with The Sandbox, a gaming ecosystem where people can create, share and monetize NFTs and gaming experiences on the Ethereum (ETH) network.

Virtual Land Adjacent to Snoop Dogg's Sandbox Estate Sells for $450K in Ethereum

The Sandbox blog post, published Thursday, explained that plots in the “Snoopverse,” will go on sale December 2, at 1 p.m. UTC. 122 lands are for sale and 67 premium plots will be sold with a bundle of three exclusive NFTs.

A total of three small estates will be up for auction on Opensea. The Sandbox announcement was further explained on Thursday. So far, the plot of land called “Wave 1 – 3×3 Estate S [12,-75]” sold for 71,000 SAND or roughly $450K at the time of settlement.

P-Ape Purchases the Adjacent Plot, Nonfungible.com Stats Show Virtual Land Sales Capture This Week’s Top NFT Purchases

At press time the 71,000 SAND is worth less than $400K after the crypto market carnage that took place on Saturday morning. The owner of the land next to Snoop’s estate is called “P-Ape,” and the collector has a number of popular NFTs.

The NFT collector also owns a bunch of Crypto Bull Society NFTs as well as a Bored Ape Yacht Club NFT (BAYC). P-Ape owns BAYC #6,445 and Mutant Ape Yacht Club #11,089 and a myriad of individual Lazy Bunny NFTs.

The Sandbox team points out that to redeem the estate next Snoop’s, a winner of the auction must first write to The Sandbox to get instructions on how to send this token to them. The sale description states that the Sandbox team will return the estate ownership to the winner.

In terms of market sales, The Sandbox held the largest seven-day sales stats last week with 4,433 sales worth $70 million. Top land sales last week sold for 14-15 ether, or 8,000 SAND to close to 10,000 SAND per plot.

This story contains tags

BAYC, Land, Land Sale, Land Sales, Market Data, MAYC, nft, NFT collections, NFT estate, NFTs, Non-fungible Token, nonfungible.com, P-Ape, Plots of Land, Snoop, Snoop Dogg, Snoop Dogg NFTs, Snoop Estate, The Sandbox, The Sandbox Sale, virtual land

What do you think about The Sandbox land that sold next to Snoop Dogg’s estate for 71,000 SAND? Please comment below to let us know your thoughts on this topic.

Image Credits: Shutterstock, Pixabay, Wiki Commons, The Sandbox,

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Ethereum

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Ethereum

Bitcoin, Ethereum Hit Hard by Geopolitical Tensions: Binance Funding Rates Signal Deep Bearish Shift

In the early hours of Friday, June 13th, the cryptocurrency market faced intense downward pressure following a surprise military strike by Israel on Iran.

The geopolitical shock sent global risk assets tumbling, with Ethereum (ETH) experiencing a sharp drop below the crucial $2,600 support level.

Geopolitical Shock

According to the latest analysis shared by CryptoQuant, this sudden plunge triggered a cascade of long liquidations on Binance, where data from liquidation heatmaps revealed concentrated wipeouts in the $2,650-$2,430 range.

Many traders had opened long positions at around $2,800, expecting continued upside, only to be caught off guard by the sell-off. As prices fell through key levels, stop-losses and liquidation orders were triggered en masse, which resulted in a rapid flush of overleveraged positions.

Bitcoin also felt the impact, as Binance’s funding rates for BTC perpetual contracts fell to deeply negative levels not seen since June 8. This drop in funding rates reflects a market-wide shift in sentiment, which means that traders are now heavily shorting BTC amid fears of continued downside.

The panic-driven trading behavior suggests extreme caution across crypto markets, and derivatives data are pointing to increased bearish expectations. However, the aggressive liquidation of ETH longs and the return of negative BTC funding rates may indicate an overly pessimistic market stance. Such conditions often precede a potential price rebound, as excessive leverage is cleared out and markets stabilize.

While uncertainty remains high due to the geopolitical backdrop, the removal of speculative build-up could create a healthier setup for recovery.

Flight to Safety Grips Markets

In a note released Friday, QCP Capital also echoed these concerns and stated that the digital asset complex remains tightly tethered to geopolitical tail risks, and markets now appear to be poised to trade “headline to headline.” Bitcoin fell around 3% while Ethereum posted a sharper 9% drop, as risk sentiment evaporated across Asia and safe-haven assets like oil and gold surged.

Interestingly, crypto volatility spiked, with front-end BTC risk reversals flipping decisively in favor of puts, which indicated a sharp rise in demand for downside protection. While over $1 billion in long liquidations rattled major crypto assets, Bitcoin’s relatively muted decline indicated underlying institutional support.

However, the firm warned that any escalation in the Israel-Iran conflict could threaten oil supply corridors and add to inflationary pressure, thereby complicating the Fed’s rate trajectory.

Exacerbating the uncertainty, a widespread internet outage involving Google Cloud and Cloudflare added further stress to equities and tech-linked crypto sentiment. With Tehran’s response pending, the outlook for crypto remains fragile, which is currently not shaped by fundamentals but by geopolitical volatility and macro headline flow.

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Ethereum

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