You may have heard the news of Facebook rebranding itself to Meta but have you heard of Sandbox crypto Metaverse? Launched in May 2012, Sandbox is here to take the pie from the big players i.e Minecraft and Roblox in the shared experience gaming space by introducing its own blockchain powered Metaverse.
This sounds okay-ish until you learn that the game you will be playing on Sandbox will be created, owned and governed by the players themselves. It brings the ownership, right into the hands of players with an opportunity to harness the power of NFT that can attract a huge userbase to run and operate its ecosystem.
The questions you may ask, Is Sandbox capable of staying in the game for the long run? Will SAND tokens be worth investing in? Can it dethrone the traditional gaming rivals? All this and more will be covered in this post. Let’s open up the Sandbox –
What is Sandbox Crypto Project?
Sandbox is a decentralized virtual gaming world built on the Ethereum blockchain where players can play, create, own, govern and earn from their gaming skills and experience using the platform native token i.e SAND.
Sandbox was launched on May 15, 2012 as a gaming platform for mobile devices (iOS and Android) by Pixowl (Sebastian Borget & Arthur Madrid) followed by the PC launch on Steam in the same year. In 2018, the project was acquired by a Hong Kong-based game software company named Animoca Brands that turned into a blockchain-based gaming Metaverse.
The name sandbox was inspired by the use case of the platform that allows the players to create their own version of nonlinear gameplay in a Sandbox mode.
The team is working to build a Metaverse in which players can create virtual worlds and games collaboratively as part of the shared gaming experience without being controlled by a centralized authority.
The company aims to disrupt the existing game makers like Minecraft and Roblox by giving complete control and ownership of the creations to the creators or players in the form of Non-Fungible Tokens or NFTs.
What is Sandbox SAND Coin?
The SAND coin is an ERC20 utility token of Sandbox that allows the users to buy and sell virtual assets on the Metaverse like LANDS and ASSETS (represented by ERC721 tokens). It serves a similar purpose on Sandbox as served by Decentraland MANA coin on Decentraland. If Sandbox is a body then SAND is its blood. The core functions of SAND are explained below –
The users holding SAND tokens have the right to participate in the platform governance by casting their vote, for or against the proposed changes or upgrades to the Sandbox Metaverse. Voting rights include user opinions on key elements like feature prioritization on the roadmap, Foundation grant attributions to content and game creators.
SAND owners can also delegate voting rights to other players of their choice.
SAND tokens can also be staked to earn more SAND in return. Staking in Sandbox is divided into two phases. Phase 1 was about liquidity mining, it is achieved by staking SAND tokens in the Uniswap liquidity pool to earn more SAND. Phase 2 is not yet live but as per the info, it will introduce Yield multipliers based upon the LAND NFTs ownership.
Staking is the only way to get Catalysts and Gems, required for ASSET creation.
Medium of Exchange:
SAND is the currency of the Sandbox ecosystem. Players can use SAND to play games. Creators use SAND to buy and sell LANDS and ASSETS. Artists can use Sandbox marketplace to upload ASSETS and buy NFTs using SAND.
5% of all the transactions on the network using SAND tokens will be divided into two parts. 50% will be allocated to the staking pool as rewards for the token holders who staked SAND tokens and 50% will go to the Foundation to support the Sandbox ecosystem.
The maximum supply of SAND tokens is capped at 3 billion
The Sandbox ecosystem consists of three integrated products that help provide a better user experience across all levels. The list includes –
- Game Maker
Voxedit allows users to create and animate 3D objects such as animals, humans, tools etc that can be made live on the Sandbox marketplace for sale and further can be used as an in-game ASSET. In order to upload the work to the marketplace, a user has to become an artist through the Sandbox creator fund.
Think of it as Amazon of Sandbox. Marketplace allows users to upload, publish, and sell their creations after creating them on Voxedit as ERC721 and ERC1155 tokens.
Game maker enables the user to build their own virtual world inside the Sandbox ecosystem. Users can either create or buy ASSETS from the Sandbox marketplace and use it on the purchased LAND to build their virtual world. Since it’s a drag and drop system, anyone can build their virtual world using the game maker without the need for coding skills.
Apart from these core products, users can create their own Avatars. They can customize the look of their Avatar and match it with their thoughtful theme inside the game.
What is Sandbox LAND and LAND MAPS?
The Sandbox LAND represents physical parcels in the Sandbox Metaverse that holds real value in SAND or ETH. These are blockchain-backed virtual tokens (ERC721-NFT standard) that allow players to own the portion of the Metaverse with complete authority to build the LAND parcel.
User can use the purchased ASSETS in the owned LAND and is free to host games or events on the property. LAND can also be used for renting, allowing the owner to generate real revenue by renting it.
LAND is further categorized into 3 types –
Standard LAND parcel represents the single piece of LAND, a 96X96 meters digital plot.
LANDS combined together form an estate. Users can combine LANDS to form an estate.
LANDS combined together and owned by multiple users form LAND district. However, to turn LANDS into a district, few conditions have to be met, shared below –
- LANDS must be adjusant
- Atleast 2 owners are required
- Each owner must stake SAND tokens
- District should be approved via voting
There will ever be only 166,464 LAND plots in the Metaverse
LANDS are physical spaces in the Metaverse, LAND MAP is used to view the LAND parcels highlighting the respective LAND owners. The majority of the LAND parcels can be purchased on OpenSea.
Sandbox Crypto Metaverse Tokens:
Sandbox uses blockchain technology to maintain and verify the ownership of respective LANDS and ASSETS on the Metaverse. It also uses IPFS protocol (covered in Filecoin) to store digital assets. Built on Ethereum, it deploys the following tokens that serve its ecosystem –
- ERC20 for native SAND crypto
- ERC721 and ERC1155 for digital asset storage and trading on its marketplace
The list can be further expanded into 5 types of tokens on Metaverse –
- SAND (Currency of Sandbox Metaverse)
- LAND (Physical parcels where the players play and deploys UGC (User Generated Content))
- ASSET (3D objects or animation created and traded by players in the marketplace)
- GEMS (ERC20 tokens burnt to give attributes to ASSETS)
- CATALYST (ERC20 tokens brunt to mint ASSETS)
How Sandbox work for a User?
Metaverse is a fairly new concept for the users and it’s totally ok to get confused when you try your hands on Sandbox for the first time. On the bright side of things, it’s actually pretty simple to understand.
The pre-registration is currently open for the users. It provides traditional login methods using email and password. Once created, you have to agree to generate a wallet address that will be associated with your Sandbox account. Once done, you’re all set to access the Sandbox ecosystem.
Start by exploring the menu options and open up the Map section to get a taste of the platform. If you wish to become a part of the Metaverse, I suggest purchasing LAND which is available for sale in the marketplace. After purchasing, visit Voxedit and game maker to start creating your ASSET and building your LAND. Have a vision in mind of how you want your LAND to look like, treat it like real property.
If this part doesn’t interest you then you can play the available games on the platform and enjoy spending your time earning SAND tokens.
How Sandbox make Money?
Sandbox has developed several solid revenue streams to sustain its business for the long run.
LAND is the USP of the Sandbox crypto Metaverse. It locks in 50% of the SAND tokens for 12 months that it received from the sale of LAND then auction them and keep the proceeds in the company’s Treasury.
Company NFT Sale:
25% of the SAND tokens received from the NFT sale are transferred to the company’s reserve with a lock-up period of 6 months.
Subscription & Services:
25% of the SAND tokens received from platform services will be passed on to the Foundation to support the growth of the Sandbox ecosystem.
As explained earlier in the post, 5% of all the transactions on the network will be divided into two parts. 50% of the SAND tokens will be allocated to the staking pool as rewards for the token holders and the remaining 50% SAND tokens will go to the Foundation to support the Sandbox ecosystem.
25% of the advertising revenue is allocated to the staking pool as reward for the token holders and the remaining 75% is allocated to the Foundation.
True Digital Ownership:
Imagine creating a game or building a digital ASSET that belongs to you for life. Sandbox help players and creators in developing UGC that will always belong to them, giving them the right to ownership in the first place.
Unlike mainstream gaming where no matter how good your art is or how better you design a game, it will always belong to the company with little to no ownership given to the player or the creator. This is the power of decentralization that comes with blockchain backed Metaverse.
If you have played games like Asphalt wherein you can buy cars and keep them in your garage. Now ask yourself this question, Does the car belongs to you for life if you’re banned by the platform? On Sandbox, no one has the right to ban you in the first place and blockchain technology makes sure that your asset is safe and cannot be stolen or deleted from the internet.
Source of Passive Income:
Sandbox enables players to rent their owned virtual property i.e LAND to fellow players that in itself is a great source of passive income which works just like collecting rent from the tenant in the real world.
Moreover, players can always create digital ASSET using Voxedit and sell their piece on the marketplace generating more income within the Metaverse. Axie Infinity gaming project has mastered the art of creating a revenue stream for the players.
In traditional gaming, the company keeps the majority share of the sale of assets or digital products being sold by a player to another player on the platform. In Metaverse, the player has full control.
If a player wishes to sell his LAND or ASSET on the marketplace. He will be entitled to keep the majority of the sale amount since he is the owner of the product.
NFT is hot and Sandbox supports it. It has a proper marketplace for selling ERC721 and ERC1155 NFT standard tokens. The ability to create a digital ASSET with the feature to upload & sell it on the marketplace is available on Sandbox. It also lists its assets on OpenSea which is one of the famous NFT marketplaces.
Sandbox is challenging the giants in the shared experience gaming space. Giants like Minecraft and Roblox won’t be easy to defeat. Backed by top tech companies (Minecraft by Microsoft) with huge war chests, they have the capability to push any competition out from the market.
On the other hand, Sandbox is betting high on decentralized gaming that can be a game-changer in this space. Here’s a quick comparison by the Sandbox team against its competitors –
Star Atlas game might just make Sandbox run for its money
Sandbox is yet to roll out. The Metaverse is still under development and waiting to be released next year. Any further delay may hamper its growth plans. The competition is rising in the gaming space and blockchain rivals like Decentraland and Enjin (ENJ coin) can outsmart it anytime.
Sandbox SAND Coin Price:
Please check the latest Sandbox SAND Coin price, shared below –
Sandbox SAND Coin Price Prediction:
The world is getting crazier about Metaverse, which was proved when Facebook announced its vision to develop its own Metaverse by rebranding itself as Meta. Fortunately, Sandbox jumped into the opportunity and expanded in this space ahead of time. Allowing users to experience the Metaverse by purchasing LANDS and creating ASSETS on its platform.
The game isn’t live yet but its alpha version is released. Sandbox is betting high on decentralization that allows users to own the items and properties built or purchased by them, this also brings the feature of ASSET sales and renting LAND that encourages users to generate a regular passive income by investing in the platform.
The project is solid and well funded. Although it hasn’t seen much hype in the early bull run of 2021, it was able to hit $3 mark in November 2021 that coincided with the alpha release. The project is approaching the launch date and this news will trigger the price to hit all-time high levels, which may end up with the SAND coin hitting in the range between $7-$10. Pretty bullish I say.
Checkout Pavia Crypto: The new Metaverse project on Cardano blockchain
Where to buy Sandbox SAND Coin?
Sandbox SAND coin is available to purchase on all the leading exchanges like Binance, Coinbase and more. SAND is an ERC20 token that means it can be purchased on leading decentralized exchanges like Uniswap (UNI) and Sushiswap (SUSHI). Moreover, Indian citizens can purchase SAND tokens by creating an account on Wazirx Exchange.
Is the Sandbox Crypto worth investing in?
Sandbox gaming has come a long way since its inception in 2012. From just a shared experience gaming platform it has advanced into a Metaverse that uses blockchain technology to empower the players by allowing them the right to ownership of their digital ASSETS and LAND parcels.
The platform is not just about gaming but an NFT marketplace where artists can create and sell their creations in exchange for SAND tokens. The platform has built itself into a virtual real estate where real people can buy properties or even rent the space to generate a passive income.
The only challenge in front of Sandbox is the traditional competition from Minecraft and Roblox, which can be a cause of concern if these game makers shifted to Metaverse and opted for decentralized expansion.
The project is in the final stages of development and has received $93 million series B funding from Softbank’s Vision Fund 2. Hopes are high from the gaming community and investors. If you’re someone who believes in Metaverse, this is the right time to explore Sandbox. Invest after due diligence.
Watch the complete video review of Sandbox:
This completes my review of the Sandbox crypto with price prediction. In the next post, I will cover Pancakeswap Crypto and Solice Crypto Metaverse. If you’re a fan of blockchain technology then please do share this post on your social handles and educate everyone around you. Do remember to subscribe to my YouTube channel for more informative content, released every week.
Cryptocurrency is a highly volatile market. All the information shared in the post is for knowledge purpose only. By no means, it’s financial or investment advice. Readers are responsible for their own investment decisions and should only invest in cryptocurrency after proper research.
An MBA in Marketing. Paras have a decade long experience in the corporate world. He is done with office politics and corporate life, therefore decided to move on and jumped on building Katoch Tubes. He is a crypto fanatic and has the vision to bring cryptocurrency knowledge to every household in the simplest form possible using the power of internet. His area of expertise includes online marketplace, cryptocurrency and content strategy. Reach out to him on Twitter & YouTube.