Crypto Analyst Austin Arnold Says Holders of Algorand And The Sandbox Should Be Thrilled

During his latest YouTube update, crypto analyst Austin Arnold said that this is a good time if you hold on to the Algorand (CRYPTO: ALGO) token, as the DeFi blockchain's foundation recently hired its new CEO Staci Warden. 

“She has heavy experience in the traditional finance world, now the CEO of Algorand. More traditional juggernauts jumping from traditional finance into the blockchain, specifically ALGO. Pretty cool if you hold Algorand,” he said. 

Related Link: Leading Capital Markets Protocol On Algorand Blockchain Closes $3M Seed Funding Round

Arnold also noted that the fashion giant Gucci has bought virtual land in the Ethereum-based metaverse, The Sandbox (CRYPTO: SAND).

According to him, Gucci’s plan to sell virtual fashion on the blockchain is great news for Ethereum (CRYPTO: ETH) and The Sandbox. 

“This is a huge step forward for selling fashion now in the metaverse… Gucci does not want to fall behind, they want to be fashion-forward in this new metaverse space,” he added. 

On NFTs, Arnold said that auction platform Ethernity (CRYPTO: ERN) has raised $20 million for NFT and gaming developments in their new studio.

“Ethernity just raised a whole bunch of money and opened up a new studio to bring in even more IP [intellectual property] to drop NFTs through Ethernity, he said. 

Photo: Courtesy of Diverse Stock Photos on Flickr