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Fortune
Fortune
Marco Quiroz-Gutierrez

This Week in the Metaverse: The Sandbox and Decentraland are caught in SEC's crosshairs

SEC SAND Decentraland Sandbox The Sandbox metaverse NFT Mana Crypto Louis Vuitton
Sébastien Borget, cofounder and CEO of The Sandbox. (Credit: Bruno de Carvalho—SOPA Images/LightRocket via Getty Images)

Welcome to This Week in the Metaverse, where Fortune rounds up the most interesting news in the world of NFTs, culture, and the metaverse. Email [email protected] with tips.

The Sandbox and Decentraland were two first movers in Web3. During the digital land rush of 2021, speculators were paying hundreds of thousands of dollars for a plot in each metaverse. Some that stand out include a $4.3 million purchase in the Sandbox by Republic Realm (now Everyrealm) or Tokens.com’s $2 million buying spree in Decentraland.

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