What Is the Sandbox (SAND)?
SAND is the utility token of The Sandbox, which is the third-largest metaverse based on the Ethereum blockchain. Apart from being the players of the metaverse (who buy or sell various in-game items in the form of NFTs) it also users to be the developers (who build and create their own assets in the game).
If you’re interested in the current SAND price, make sure to take a look at the Sandbox price chart featured above.
The primary goal of the Sandbox platform is to successfully integrate blockchain technology into popular gaming. The platform focuses on enabling a creative Play-to-Earn paradigm, which is exactly what allows users to choose whether they want to be developers or gamers. Overall, the Sandbox is one of the biggest games ever to employ original user-generated content.
The NFTs can be created using the innovative 3D voxel engine called VoxEdit. It offers robust tools, an intuitive user interface, and a simple timeline for straightforward modeling and animation.
Thus, VoxEdit allows users not only to model in-game items but also to animate them. Besides, VoxEdit's user-friendly interface eliminates the need for highly developed NFT creation skills. After the NFTs are created, they can be uploaded through the Sandbox Game Maker.
The Sandbox succeeds in building a metaverse of active users who support the expansion of the platform. It’s able to accomplish that because of the strong emphasis on user-generated content. Additionally, by introducing the SAND token, the Sandbox promotes decentralized governance and gives users the opportunity to vote on the project's development.
Since the Ethereum blockchain serves as the foundation for the Sandbox, it’s protected by the Proof-of-Stake (PoS) consensus algorithm. This means that owners of the SAND tokens can stake them to receive staking rewards. PoS is also advantageous because it doesn't consume much power or computer processing power to validate transactions. It largely depends on the users with the largest SAND coin holdings.
The Developers of the Sandbox
The Sandbox crypto project was developed in 2011 by Pixowl (a game creation studio). Pixowl was founded by Arthur Madrid and Sebastien Borget.
Madrid is the CEO at Pixowl. He has a degree in economics. Madrid worked as a consultant for Eurogroup Consulting in France before founding the Sandbox. However, in 2001, he made the decision to pursue entrepreneurship and founded 1-Click Media.
Borget is the COO at Pixowl. He has a degree in computer systems networking and telecommunications. Before working with Pixowl, Borget was a project lead for 1-Click Media, where he began his partnership with Arthur Madrid.
How Does the Sandbox Work?
The Sandbox Metaverse is made up of LANDS, which are areas of the world that users can purchase. Only 166,464 LANDS will ever be made available for use. Essentially, players can host games, create multiplayer experiences, build dwellings, or provide social activities to the neighborhood on their LANDS. Besides, by combining several LANDS, an ESTATE can be created.
Furthermore, a player can add games and ASSETS to their own LAND once they have acquired it. The tier, scarcity, and characteristics of ASSETS are determined by GEMS and CATALYSTS. The ASSETS receive additional vacant sockets from CATALYSTS that can hold GEMS. The more sockets your ASSET has, the better the CATALYST's quality.
The Purpose of SAND Tokens
The Sandbox ecosystem's utility token, SAND, serves as the foundation for all transactions and interactions. The token is based on an ERC-20 token standard. It can be used as:
- The driving force of the Sandbox that is required to gain access to the metaverse.
- A payment method for purchasing equipment or customizing the player’s avatar.
- A payment method for purchasing ASSETS and LANDS.
- A governance token. By staking SAND tokens holders are able to get voting rights considering the development of the platform.
Just a reminder, don't forget to check out the aforementioned Sandbox price chart in which you can see the live SAND price.
Tokenomics of SAND
The max supply of SAND is 3 billion tokens. The biggest portion of the SAND coins supply distribution was dedicated to the founders and team members (31%). Around 26% was sent to the reserve of the company. The remaining portion was set aside for the seed sale of the SAND token, a special Binance Launchpad sale, and for compensating the project advisors.
If you’re planning to purchase SAND tokens, note that the SAND price is prone to change. This is the case because of the volatility of the whole crypto market. Every time the crypto market fluctuates as a result of multiple internal or external factors, the values of the majority of crypto assets, including the Sandbox price, start to change as well.