With Facebook renaming itself as “Meta” recently, the public attention has been targeted at the metaverse. In particular, The Sandbox is a project that has been gathering a lot of attention in the NFT gaming space.
The Sandbox is a metaverse project where players can build, create and own gaming experiences on the platform, and $SAND is the utility native token of the project.
With tokens prices of $SAND surging over 1000% in the past month and Adidas hinting towards a collaboration with The Sandbox, the project has gained more traction than ever.
What is The Sandbox?
Sandbox Project was envisioned in 2018 to be a game that would disrupt the gaming and blockchain ecosystem. In a nutshell, The Sandbox provides the tools and ecosystem for players to create content and games while monetising them at the same time.
The tools it provides are VOXed and Game Maker, and players can earn and use $Sand through 3 general activities:
- Land: Think of the Land as a real estate NFT. It is limited and can be resold as well.
- Marketplace: Players use VOXedit to create an NFT’s and can sell them on the Marketplace for $Sand
- Gaming experiences Create games and experiences on The Sandbox’s Game Maker and monetise them by placing them on Land owned by players.
The game has just been launched on November 29 in the Alpha stage where special passes has been through raffles for players to test the game out.
LAND is the real estate of the The Sandbox. Owners are allowed to place whatever they like on LAND and you can quickly spot a few other NFT projects like BAYC.
With only 166,464 pieces of land ever available, we can expect investors to be chasing after the auctions and land sales releases.
LAND is currently being sold as NFTs, and is listed on third party marketplaces like Opensea.io. A quick search for a 1×1(Small Box) plot of LAND cost 3ETH (~USD12,000).
Adjacent plots of LAND can also be joined to be called Estates (in a 3×3, 6×6 and 12×12 formation), typically generates larger price.
The upcoming Land sales is being held in Q4 2021, and will be a special event held with SnoopDog. The date has yet to be set at the time of writing.
VOXed and Game Maker
The Sandbox provides two free softwares for players and investors to create the game to played on the platform, pieces that can be sold on the marketplace and experiences.
This reduces the barrier to entry for gamers who do not have a lot of capital and are looking to trade their time up for potential gains in Sand.
VOXedit allows players to create 3D models, which can then be turned into NFTs on the platform and sold on the marketplace.
The Sandbox Game Maker is being marketed as no coding required. A quick search on YouTube will allow you to check out tutorials on how to use both softwares.
SAND tokenomics and use cases
$SAND tokens are the main tokens in the platform which allows users to trade and to interact with the game.
All three interactions are transacted in $SAND. $SAND can also be used for staking (earning interest/payout) and Governance (voting rights).
With the increase in hype surrounding gaming NFTs and news about The Sandbox’s partnerships, it is understandable that the price of $SAND has been up substantially about 700% since the start of November.
We can also see that NFTs on Sandbox like Land continue to appreciate in pricing as well.
The Sandbox is another avenue for investors to get a slice of the metaverse pie. With interest and retail hype gathering around Sandbox. It is sure to be one of the projects to be keeping a lookout for.
Featured Image Credit: The Sandbox