What is The Sandbox (SAND) and How Does It Work?

By July 1, 2022The Sandbox
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The Sandbox is a play-to-earn blockchain allowing players to create a virtual world using non-fungible tokens (NFTs) on the Ethereum blockchain.

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The Sandbox (SAND) is a play-to-earn virtual world gaming experience, combining blockchain technology, DeFi and NFTs in one 3D metaverse. The Sandbox allows players to create and customise their gaming experience and digital assets with free design tools. These virtual goods produced by players can be monetised as NFTs and sold for SAND tokens via the Sandbox Marketplace.

What is The Sandbox, and How Does It Work?

As mentioned above, The Sandbox is a play-to-earn blockchain allowing players to create a virtual world using non-fungible tokens (NFTs) on the Ethereum blockchain. Players can create their avatars to gain access to various games, environments, and hubs within the Sandbox metaverse. Simply put, the game could be viewed as a DeFi version of Minecraft on a blockchain.

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What is Sandbox (SAND)?

Sandbox (SAND) is the native crypto token of The Sandbox metaverse. It is an ERC-20 token with a total supply of 3 billion SAND. Players use SAND as a utility token to perform any transaction and interaction within the Sandbox ecosystem. Simply put, users need to hold SAND to play the game, customise their avatars, buy LANDs, and trade ASSETS via The Sandbox Marketplace. Moreover, SAND is also a governance token. SAND holders can propose and vote on any changes to the platform via a Decentralized Autonomous Organization (DAO) structure.

Furthermore, holders can stake their SAND holdings within the game's ecosystem to earn various rewards, including a share in revenue from all transactions in SAND tokens. Staking SAND also increase players' chances of finding valuable GEMs and CATALYSTs, the game's resources that are required for creating ASSETs with higher rarity.

SAND tokens can be acquired via playing various games and contests in The Sandbox and can also be purchased from cryptocurrency exchanges such as Binance.

What are ASSETS?

ASSETS are The Sandbox's user-generated non-fungible tokens (NFTs) and are voxel assets developed with VoxEdit, which are then uploaded to The Sandbox Marketplace and converted to NFTs for sale. ASSETs can be utilised in the game in several ways. They can take the form of environmental assets such as structures, moving animals or cars. Furthermore, they can also be attached to avatars as clothing or weapons. ASSETs can be designed to provide unique gaming experiences for players creating their games via Game Maker.

What is LAND?

LAND refers to the digital pieces of real estate within The Sandbox metaverse. LAND tokens are unique ERC-721 tokens on the Ethereum blockchain. Players can purchase LANDs to develop their own versions of games on it with ASSETs using the Game Maker tool. Furthermore, players can also combine multiple LANDs to create ESTATEs.

LAND tokens allow players to monetise their gaming experiences. For instance, a player can charge other players for visiting their LAND or playing their games, earn rewards in SAND by hosting events or sell or rent customised LANDs.

Currently, there are a total of 166,464 LANDs in The Sandbox. Users can purchase these LANDs with SAND and Ether (ETH) via public LAND sales. Players can find a list of confirmed public sales and dates via the Sandbox gitbook. Alternatively, players can purchase LAND from other users via The Sandbox Marketplace and NFT platforms, including OpenSea, but they are often more expensive than the official public sales.

When was The Sandbox launched?

The original version of The Sandbox was released as a mobile game in 2012 as a collaboration between Pixowl and Onimatrix. Pixowl is led by Sébastian Borget and Arthur Madrid and was acquired by Animoca in 2018, when the company announced its plans to create a 3D sandbox-style world, leveraging blockchain technology to utilise user-generated content (UGC) and token economics. In August 2020, the Sandbox team held an initial coin offering (ICO) and raised $3 million to fund future operations.

Pros and cons of investing in SAND.

Before investing in any cryptocurrency, it is always wise to consider the pros and cons, which is no different for users seeking to invest in SAND. The Sandbox's native SAND has several pros and cons before buying the dip.

Pros:

  • Players can create custom NFTs.
  • The Sandbox is compatible with Ethereum's ecosystem and metaverse.
  • In-game asset creators own retail copyright for life. Designed with interoperability.

Cons:

  • Limited by Ethereum's high gas fees.
  • More can be done to increase interoperability.
  • All of the functions are yet to be implemented.

How do investors get SAND?

For users to get SAND, they can acquire it by playing various games and contests in the Sandbox or seek out a crypto exchange such as Binance or Kraken. If a user does not have an account with an exchange, they will need to set one up.

To purchase SAND:

  1. Select your crypto exchange.
  2. Create an account.
  3. Complete the KYC process.
  4. Deposit fiat currency via a bank transfer.
  5. Start trading.
  6. Withdraw your SAND into a wallet.

Can SAND be converted to cash?

Indeed. Much like any cryptocurrency, SAND can be converted to cash. Users simply need to sell the SAND holdings to the crypto exchange of their choice and cash out in the fiat currency they desire.

Who sets the SAND price on the crypto market?

The price of SAND is determined by the market supply and demand for the cryptocurrency. Much like traditional stocks, crypto markets also have order books with buy and sell orders. Any increase in the demand for SAND will drive the price up, and an increase in sell orders will drive the price down.

Conclusion.

Now that you've read our comprehensive guide, you should have enough knowledge to start your gaming adventures in The Sandbox and invest in SAND. Our advice is always to consult with an expert before investing and never invest more than you can afford to lose. Remember to visit our blog daily for all things The Sandbox and more.

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lloyd newkirk

lloyd@amon.tech

Lloyd is Amon's Social Media Manager & Lead Copywriter. He has over a decade of experience in digital marketing, social media, and writing. Lloyd has a strong background in writing about cryptocurrency, digital marketing and tech..

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