“A Decentralized Gaming Platform Made By Players”

– The Sandbox

Note: This is part of Nebeus’ new Coin Analysis series, where you can discover the latest crypto coin news.

What is The Sandbox ($SAND), and how does it work?

The Sandbox, just like Decentraland, is an example of a blockchain-based metaverse. The metaverse is a piece of Ethereum-based software that manages a decentralised virtual gaming environment.

What is The Sandbox ($SAND)?

The Sandbox is essentially a game in which users purchase virtual plots of land — referred to as LAND —on which they can build and share their own in-game virtual experiences with the rest of the Sandbox community.

The metaverse doesn’t only work with user-generated content — it is leading the way in growing new and engaging ways of interacting with Web 3.0. It achieves this through collaborations with over 160 companies to create unique in-game experiences, including:

The Walking Dead,
The Smurfs,
Atari.

And that’s not all. The Sandbox works with individual artists, such as Deadmau5 and Snoop Dogg, to host virtual concerts, drawing in users who would not typically engage with the metaverse.

Overall, a total of $93 million has been invested into the project so far, and the team is continuing to expand the project's offerings and the metaverse.

What is the SAND Token? $SAND

The Sandbox's utility token, SAND, can be used to make ASSET tokens, purchase existing ASSETS on the marketplace, trade LAND, and engage in user-generated experiences.

In other words, players use SAND to do things like buy in-game items, outfit their Avatar, and personalise their experience. SAND is the medium by which creators acquire ASSETS, LANDS, and the one they stake. SAND is the currency used by creators to purchase Gems used in the rarity and scarcity definition of ASSETS being uploaded to the Market. We explain the use of these additional in-game tokens down below.

It's important to note that SAND can also be used as a governance token. Holders of SAND will be able to vote on governance issues, such as feature prioritisation in the Sandbox DAO. Also, owners of SAND tokens have the option of casting their own votes or delegating that power to another party.

How to buy The Sandbox? $SAND

With the current market value of SAND sitting at over $4.5 billion, it’s a project that’s likely to be around for a long time.

So, if you’re looking to invest and support the project, you can buy and sell SAND on Nebeus and other exchanges.

Two other ways to acquire SAND are:

As an added bonus, every once in a while, the Sandbox staff will run contests and events where users can win SAND tokens by participating in metaverse games.
Historically, airdrops were another method by which SAND was disseminated among the community.

How do you make money on The Sandbox?

LANDS can generate passive income when users stake SAND. This staking results in more SAND being distributed to the staker.

Landowners in the future will be able to profit from the creation of new assets by staking SAND onto their LAND in exchange for gems.

Note: only in this way can the priceless Gems and Catalysts be acquired, both of which are essential in the production of ASSETS.

Make Your Own Voxel ASSETS

Produce ASSETS in Voxedit, then transfer them to the Marketplace as NFTs.

Create Your Own Games Using the Game Maker

Make use of the Game Maker to create and sell games and other interactive experiences hosted on your LANDS.

Get a piece of LAND.

Participate in one of The Sandbox’s LAND Sales and purchase a LAND. To maximise their worth, you should either rent them out or fill them with engaging content.

If these ways of making money on The Sandbox seem confusing at first, that’s because it’s important to understand how The Sandbox actually works.

How Does The Sandbox Work?

Sandbox makes use of the Ethereum blockchain to keep tabs on who owns which parcels of virtual real estate and non-fungible tokens. Ethereum wallets, which store users' SAND tokens, allow them to participate further in the ecosystem.

Within The Sandbox's framework, developers have the creative freedom to experiment with new ways of animating and interacting with their digital properties.

To help developers create these experiences, there are three interconnected components that make up the Sandbox blockchain gaming platform. They all work together to give creators of user-generated content a pleasurable environment in which to work. The integrated products are helpful because they enable users to protect their intellectual property rights over user-generated content via blockchain and smart contracts.

The integrated products are:

What is the Voxel Editor in The Sandbox?

In order to design and bring to life objects like plants, animals, and avatar-specific gear, users can make use of voxels, the smallest unit of three-dimensional design.

What is the Game Maker in The Sandbox?

A product that lets players create their own 3D games on their own land with ASSETS they've either made or purchased from a marketplace.

What is The Sandbox Marketplace?

After ASSETS are registered as ERC1155 tokens on the Ethereum blockchain, users can then upload their creations to The Sandbox marketplace. This ASSET is then tradeable for SAND.

If you want to find out more about The Sandbox Marketplace, they have an in-depth article on the topic over on their FAQ.

Who is the Founder of $SAND?

“The Sandbox aims to bring blockchain into gaming, attracting both crypto and non-crypto game enthusiasts by offering the advantages of true-ownership, digital scarcity, monetization capabilities, and interoperability.”

– The Sandbox

Originally under the direction of Sébastian Borget and Arthur Madrid, The Sandbox was originally developed as a 2012 mobile game by Pixowl.

Then, in 2018, Animoca, a video game developer, purchased Pixowl and announced plans to use blockchain technology, user-generated content, and token economics to create a 3D sandbox world unlike anything else.

Back in August of 2020, the Sandbox team ran an initial coin offering (ICO) and raised the digital currency equivalent of $3 million to use for the company's ongoing expenses.

What are the Tokens in The Sandbox?

Besides the SAND token, the Sandbox's metaverse is governed by two other native tokens:

LAND Tokens

These represent a virtual plot of land within The Sandbox. The point of purchasing LAND is to allow the player to add interactive content, such as minigames, buildings, and other players to interact with.
A LAND token is a non-fungible, one-of-a-kind digital asset stored on the open Ethereum blockchain (ERC-721).
A capped total of 166,464 LANDS will exist within The Sandbox, each contained in a map that forms The Sandbox metaverse.

What is LAND?

The Sandbox's metaverse revolves around LAND. There's a tonne you can do with them, from playing and making games to earning tokens to hosting contests.

Another way to put it is that a LAND is a piece of real estate within The Sandbox metaverse where users can build their own games and other forms of original content.

ASSET Tokens

LAND is populated with these ASSET token NFTs, which are non-fungible tokens that represent in-game assets like avatar gear and player creations.

Once created and minted, they are exchangeable in the marketplace of The Sandbox.

What makes $SAND different? Benefits of The Sandbox

The decentralised governance system built into The Sandbox gives SAND owners the power to set metaverse-wide policies and manage the platform independently. The policies of the metaverse are determined by its users, who will also exercise complete control over their digital property since there is no overarching authority to do so.

Nonetheless, The Sandbox stands out from other DAO-led projects in additional ways:

Its Foundation funds game projects

Five percent of all SAND token transaction fees are collected.

Half of these funds go to token holders who stake SAND tokens as rewards.
The other half goes to the "Foundation."’

The Foundation's goal is to encourage the creation of high-quality interactive content and games for The Sandbox by providing financial incentives in the form of grants.

More than 15 game projects have received funding from the Foundation, and over 100 artists have been awarded grants to create NFTs in advance of the public release.

The value of the metaverse as a whole will increase as a result of the Foundation's support for individual games, creating a positive feedback loop that will allow for the creation of ever-more ambitious projects.

Designed to work within the Ethereum ecosystem and the metaverse

The Sandbox's support for cross-platform interoperability is another key feature, as it will allow users to transfer their assets between different blockchain-based applications. That said, it will take some time for the system to fully develop.

However, in the future, players will be able to freely transfer and exchange their virtual property amongst different metaverses and P2E games.

Those who make game assets retain ownership forever.

Members of the Sandbox have access to a wealth of potential earning opportunities. Everyone can benefit from the metaverse's many play-to-earn features, which offer the chance to win valuable prizes simply by taking part in the game.

A user will have full digital ownership over all of their virtual assets, including any non-fungible tokens (NFTs) they mint or already own. Since the assets created in the metaverse belong entirely to their creators, trading them is another lucrative way to make money in the virtual world.

Once the money rolls in, these resources could be used on the plots of land, crafted into P2E games, or sold on The Sandbox for a profit.

How many The Sandbox ($SAND) coins are there?

Max Supply: 3,000,000,000

Circulating Supply (05/10/2022): 1,499,470,108

Currently, approximately 49.9% of the total supply is already in circulation.

Note: We gather our information from CoinGecko. The numbers written are correct at the time of writing.

What is the Current Price and current Market Cap of The Sandbox? (05/10/2022)?

Current Price: $0.847969

Current Market Cap: $1,270,972,756

Current Market Cap Position: #46

All-Time Low: $0.02897764 on November 4th, 2020

All-Time High: $8.40 on November 25th, 2021

Note: We gather our information from CoinGecko. The numbers written are correct at the time of writing.

Conclusion

Are you itching to dive into The Sandbox? Participate in one of its many active channels to interact with its active user, developer, and creative communities:

You can sign up for a Nebeus account to buy, hold and stake your The Sandbox investment.

La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y se puede perder la totalidad del monto invertido.

What is The Sandbox? $SAND

What is The Sandbox ($SAND), and how does it work?