SAND Was Trending: Are the fundamentals still strong?

By June 23, 2022The Sandbox
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The SAND token is the native digital currency for a virtual world, The Sandbox, owned by Animoca Brands. Players can use SAND to pay for NFTs or services and earn SAND by completing objectives, trading, or providing other services. Ultimately gamers can create their own games with their own monetization models, all powered by the SAND token.

At the height of the bull run in 2021, SAND and The Sandbox were buoyed by Facebook’s rebrand announcement to Meta and a sudden spotlight on metaverse platforms. On Thursday, October 28, 2021, the token price was $0.76. By November 25, 2021, it had hit $8.40. A whopping increase of more than 1,000% in less than a month.

Most importantly, The Sandbox-specific reasons drove the cryptocurrency’s gains, and those reasons remain valid today. Additionally, the involvement of a leader in the blockchain gaming and NFT space in Animoca Brands adds serious weight to the team and outlook. Could they push The Sandbox back to its peak of more than $8,00 and beyond?

Meet the team

The team behind The Sandbox is not anonymous and all are fully doxxed with perhaps the most outward-facing team member being Sebastien Borget. He is the co-founder and COO of Pixowl, the development studio behind The Sandbox. Passionate for blockchain technology, gaming, and education, he is a very active speaker and evangelist who spent the past eight years focused exclusively on mobile gaming, creating successful games that were downloaded millions of times. Find full details about team members here.

Notable partners

The Sandbox has secured over 50 partnerships, including Snoop Dog, Adidas, The Walking Dead, Atari, CryptoKitties, and Shaun the Sheep, to build a fun, creative play-to-earn gaming platform owned and made by players. These partners will create content and bring their communities into The Sandbox, possibly bringing lots of activity into the game world.

The Sandbox timeline

  • The Sandbox company launch: May 15, 2012
  • SAND token launch: August 14, 2020
  • The Sandbox Alpha game launch: November 29, 2021
  • Complete roadmap from launch continuing

SAND Price Statistics

  • Market cap rank: #49
  • All-time high: $8.45 on Nov 25, 2021
  • All-time low: $0.03 on Nov 04, 2020

Raises

  • November 2, 2021 – Softbank development fund – $93,000,000
  • February 10, 2022 – Everyrealm Series A – $60,000,000
  • March 22, 2022 – Yuga Labs Seed Round – $450,000,000
  • May 4, 2022 – Kinetix Seed Round – $11,000,000

For context, Yuga Labs is best known for creating the world’s largest and most profitable NFT project to date, the Bored Ape Yacht Club (BAYC) and its spin-offs. It also spent most of the last twelve months acquiring other high-profile NFT IP rights, brands, and copyright, including CryptoPunks, MeeBits, Cool Cats, and more. The company will play a significant role in developing its own virtual world platform called the Otherside and seems set to join hands with other major players to roll out its metaverse vision.

NFT Sales

The Sandbox has already carved a space in the metaverse by selling virtual land plots to the public for over a year. And it has attracted some pretty big buyers. For example, rapper Snoop Dogg not only bought land in The Sandbox — but he’s also inviting players to join his “Snoopverse” through access passes and party passes. Additionally, players can create and sell lower-value, in-game NFT items on The Sandbox marketplace.

NFT sales and marketplace data from DappRadar place The Sandbox as the 14th most traded NFTs on Ethereum. More than 46,000 traders generated over 125,000 sales, responsible for more than $428 million in trading volume at writing. Check out our Sandbox land valuation report below.

Latest developments

Browse through more than 100 articles covering news and happenings from The Sandbox on the DappRadar blog. The latest developments are below:

What can I do with my SAND now?

Players need SAND tokens to participate in the blockchain version of the game, trade assets on the marketplace and buy land NFTs, which are digital plots of land in the game. You can also use SAND as a governance token to vote and propose improvements on the platform through their Decentralized Autonomous Organization (DAO) structure.

Aside from that, holders of SAND can continue to HODL, or alternatively, place their SAND into the Polygon network staking to benefit from low gas fees, or do the same over on Ethereum and use SAND to make more SAND.

Summary

The Sandbox saw big gains in value last year, however, the increases may not be over. That’s because The Sandbox is in the early stages of its growth story. The platform held two Alpha events that allowed a limited number of players to experience all The Sandbox has to offer. The latest — Alpha Season 2 — resulted in more than 325,000 Alpha hub visitors.

A solid metaverse play with an already long tail. Strong partnerships with real-world brands and significant investment from leading players Animoca and Yuga Labs.

The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in various cryptocurrencies, including BTC, ETH, and RADAR.

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