The Sandbox (2018) is based on the Ethereum blockchain and is a decentralized NFT gaming metaverse. The Sandbox makes it possible for non-tech savvy users to create, sell, use, and monetize their virtual reality NFTs. Pixowl, the creators enjoyed the success of The Sandbox (2011), and The Sandbox Evolution (2016), respectively. The creators in 2018 thought about introducing this successful User Generated Content gaming IP and the extensive network of creators in the blockchain ecosystem. The objective was to give the creators the actual ownership of the creations in the form of non-fungible tokens (NFTs) and to reward them for participating in the ecosystem.
What is the Sandbox Metaverse?
The Sandbox Metaverse comprises three integrated products that give a comprehensive gaming experience for the User Generated Content (UGC) Production. The three integrated products are.
It enables the user to create voxel models. The voxels are the building blocks in The Sandbox game, which are 3D pixels. It is an NFT creation package for Mac or PC that lets users create and animate any 3D objects like human beings, vehicles, animals, etc.
The Marketplace in The Sandbox lets users upload, publish and sell their voxel model creation made with VoxEdit. First, the users upload their creations into an IPFS network that gives decentralized storage and helps them register onto the blockchain to prove their ownership. Then, post this; the creations turn into ASSETS that the user can sell by making a sale offer in the Marketplace, through which the prospective buyers can also make the purchase.
With the help of Game Maker, anyone can create their own 3D games for free. Even those creators who do not have any coding experience can create stunning 3D games by themselves within minutes due to the user-friendly visual scripting tools.
Identifying the Types of Tokens in the Sandbox Metaverse
In the Sandbox ecosystem, there are typically four types of users: players, creators, curators, and landowners. And there are six types of tokens in The Sandbox Metaverse. But in order to create an enclosed economy amongst the users, they usually rely on four user-specific tokens: SAND, ASSETS, LAND, and GAME. Rest two tokens, GEM and CATALYSTs, are saved for constructing assets in VoxEdit.
SAND Token is a utility token used within The Sandbox for all the interactions and transactions using the ERC-20 standard. One can view SAND as the native currency or Sandbox coin in The Sandbox metaverse. The user can use the SAND token for Governance, Staking, Foundation, Accessing the platform, and the Free capture model in the Metaverse.
ASSETS token depicts the virtual assets in The Sandbox metaverse. The Users can trade these tokens in the Marketplace or use them on land in order to create any additional utility. Through VoxEdit, the users can create numerous assets to monetize on the platform. Also, all the users have the ownership rights to the Assets they have created, which they trade in the game.
A LAND Token is a vital part of The Sandbox metaverse. The LAND Token is also called the virtual real estate investment in The Sandbox ecosystem. The users can buy lands and then integrate different pieces of adjoining lands to make estates and districts in the Metaverse.
The GAME token has to be always together with the LAND Token for the users to be active in The Sandbox. A GAME token gives an interactive experience to the users, which is developed by integrating the game programming and assets.
GEMS are utility tokens that boost the attribute value of the Assets in The Sandbox ecosystem. It is also burnt-on-usage tokens, wherein one GEM can give 25 attribute points to an asset, which becomes quite helpful and valuable in the game.
CATALYST is yet another burnt-on-usage token that defines the user’s ASSET’s tier and scarcity displayed in The Sandbox metaverse. The user can add an empty socket to their asset that they can load with GEM attributes with the help of the CATALYST Token.
What is SAND used for?
SAND is the utility token in The Sandbox metaverse blockchain that can be utilized to make ASSETS tokens, buy and sell ASSETS in the Marketplace, partake in trades concerning LAND, and interact with user-generated experiences. For instance, in order to purchase or sell LAND from the public sales in the game, the user must have the SAND token in their metaverse wallet. In addition, the GAME assets, GEMS, and CATALYSTS are also purchased using the SAND Token from the Marketplace.
The SAND token is used for the below-mentioned purposes.
For Accessing the Platform
Players or Users can use the SAND tokens to play games, buy equipment and customize their Avatar. It is also used to purchase ASSETS, LAND, and stake the token for other benefits.
With the help of SAND, the users can stake and get passive income on LANDS; furthermore, the users can get more SAND by staking it. Also, SAND is the only way users can get the GEMS and CATALYSTs required to create assets.
The SAND token users are allowed to vote on the platform’s governance via the Decentralized Automated Organization (DAO). In addition, the users or players having the SAND token can also vote for themselves or transfer the privilege of voting to the other users.
The Sandbox Foundation’s mission is to boost the platform’s ecosystem by giving grants that would facilitate the creation of high-quality games and content. As the value of the games supported by the Foundation increases, it also increases the overall value of the Metaverse, thereby creating a circle that helps in funding more deserving games.
Free Capture Model
5% of the total transaction volumes of the SAND token are distributed. The 5% is equally distributed amongst the Foundation and the staking pool in rewards to the token holders.
What is Sandbox Land, and How to Buy Land in Sandbox?
LAND is a digital real estate portion of the Sandbox ecosystem. The user can buy a LAND by learning about the Sandbox Metaverse’s entire landscape. If you are still unable to figure out Sandbox or anything related to Metaverse, it is best to opt for a metaverse course.
Regular and premium LAND are the two types of LAND available to the users. LAND is an essential component that the user will need in order to expand their games and worlds, and users cannot play this game without a token. In addition, the player must have Ethereum in their wallet to help cover the fees needed at the time of the purchase. Finally, as mentioned earlier, SAND is the native currency used in the ecosystem and is also used to pay for buying the LAND tokens. Once the players have all these, they must click on the available LAND they desire on the website map.
The website will mark the Regular land in gray if the land is available and highlight the piece of land in yellow if the available land is a premium. Once the user clicks on the “Buy” button, the land has been reserved for the user. Subsequently, the appropriate wallet will open and show the user the gas fees and the SAND price. The LAND will be highlighted in purple, signifying that the LAND is booked. The transaction will be called complete only when the user’s wallet confirms it. The amount chosen for gas and any congestion in the blockchain decides the completion time of the transaction. Once the transaction is fully completed, the LAND will turn red, indicating that the user now owns the LAND. Users should ensure that the transaction is completed within two hours, or else the LAND will be available to everyone again.
Another way of purchasing the LAND is by using OpenSea. OpenSea is a secondary marketplace where users can buy several NFTs. In order to buy LAND from the OpenSea platform, the user should first create an account on it. Then, the users can get LAND with the help of SAND or ETH as per the seller’s preference.
The main objective of LAND is to allow the game developers and designers to post their experiences on them. These posts can be appreciated by fellow gamers and can help in monetization as well.
What Can We Expect from the Sandbox in the Future?
At present, The Sandbox is collaborating with more than 165 brands, which includes famous franchises such as Smurfs, Atari, and The Walking Dead. In addition, the Sandbox has also collaborated with Snoop Dogg and Deadmau5 in the form of virtual performances. The Sandbox has also teamed up with the World of Women (WoW) to help them promote female inclusivity and representation in the Metaverse. For this initiative, the WoW Foundation will receive $25 million for five years, and this fund will be utilized for mentorship and education. The Sandbox has also raised more than $90 million to date. Its team is working towards expanding its Metaverse and the product suite.
This year, The Sandbox team awards the LAND owners who have created outstanding gaming experiences with additional metaverse features. In addition to this, in Q4 of 2022, the mobile version and a new community token are expected to be launched.
Furthermore, as per analyst prediction, the price of The Sandbox might reach more than $7 by the first quarter of 2023 and can reach more than $200 in five years. Therefore, financial analysts believe that The Sandbox has immense growth prospects in the future, as the industry is in the developmental phase. The investors should conduct their own research or talk or listen to Metaverse experts before investing in it, as the industry condition may change as per the various situations.
The Sandbox is one of the many new entrants in the world of cryptocurrency and is touted to be a good investment that is attracting new participants and investors every day. Furthermore, SAND might be a good investment if the historical prices are considered, as it has done well compared to others. But, as said earlier, investors should be careful and do their research before making any investments, as the cryptocurrencies are highly volatile; hence, the prices that are going up today may go drastically down tomorrow. Therefore, it is advisable to learn Metaverse or get Metaverse training to help you make more informed decisions around it before investing.