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Launched in 2020, The Sandbox is a virtual gaming system that allows individuals to create non-fungible tokens (NFTs) -based digital assets on the Ethereum blockchain.

The SAND token, the basic token of The Sandbox, is used to perform various activities within the platform. SAND tokens are trading at $0.2249 per token, with a circulation of $71 million and a market cap of $158 million.

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What is The Sandbox?

The Sandbox is an Ethereum-based virtual gaming platform that allows you to build and own NFT assets.

The Sandbox uses three types of tokens: ASSETS, SAND, and LAND. Asset Tokens are ERC-1155 based tokens and are created and traded by players directly in the sandbox NFT marketplace.

Arthur Madrid, CEO and co-founder of The Sandbox, said The Sandbox will allow people to create assets that they can own and manage.

He also mentioned to the writer of Gamesbit that “the idea of ​​blockchain in metaverse is to build a new kind of digital asset based on ownership and governance”.

The Sandbox has the following key features:

• VoxEdit 3 software facilitates NFT asset creation
• A marketplace where players can buy and sell NFT assets
• Game maker software that allows players to create and play their own 3D games

VoxEdit is a software that players can use to create voxel-based NFTs such as animals, vehicles, humans and tools. A voxel is a 3D pixel similar to the building blocks in Minecraft , which can be manipulated and transformed into any object.

In the past, voxel games were highly centralized and did not allow players to own their creations. The Sandbox has improved this by introducing NFT interoperability, which allows users to fully own their voxel creations and use them seamlessly across different games.

These voxel NFT assets can be bought and sold on the sandbox NFT market . Users from other platforms can also access the market and purchase assets from sandbox games as well as other games. This allows players to easily transfer their creations between platforms and ensures “ security, authenticity and ownership ”.

Arthur Madrid said, “It gives everyone access to a new economic model where players and creators can fully participate in the value creation chain and benefit from a new paradigm where content is a platform.” said.

The idea of ​​The Sandbox is to create a platform where people can build anything they want without centralized authority. The generated NFT assets are stored on the blockchain, so they are owned by the players themselves rather than by the game developers like most other games.

The Sandbox’s third major feature , Game Maker , allows players to create and share their own 3D games for free. No coding experience is required as the software provides a visual development tool that allows players to see what they are creating in real time.

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How to use Sandbox?

First you need to create an account on the sandbox website and link your Metamask wallet . After setting up your profile, you will need to purchase SAND Coins to participate in most activities on the platform. When you purchase SAND Coins and transfer them to your MetaMask wallet, they will appear in your sandbox profile.

ERC-20 tokens can be purchased to increase the value of NFT assets . In the sandbox, they exist in the form of “Gems” and “Catalysts”. Gems give a rating to a user’s asset, whereas a Catalyst gives an asset a rarity.

The Sandbox’s NFT Marketplace, a beta version released in March, allows you to purchase assets and use them to decorate your own Land. These assets can only be purchased with SAND Coins. Pricing is determined by the number of attributes on the asset, and when you purchase an asset, it appears in your personal inventory.

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What is LAND?

A LAND is a unit of digital real estate, a physical space on a sandbox platform that players can purchase and own with NFTs. Players can decorate the land, play games, host events, or rent it out to other players. The Sandbox team owns about 10% of the total LAND and uses it to hold special events as well.

Lands may also be combined to form “Lots” that are considered “Areas” when owned by at least two players. Zones have special governance rules established directly by property owners that affect all players living in the zone.

If you go to the land’s webpage, a map will appear showing all the lands that exist in The Sandbox metaverse. The Sandbox conducts land sales several times throughout the year.

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Who is behind The Sandbox?

The Sandbox was first released as a mobile sandbox game by game studio Pixowl in 2012. It had over 40 million downloads at launch and still boasts over 1 million active users. Pixowl was founded by Arthur Madrid and Sebastien Borge, respectively, the studio’s CEO and COO.

Pixowl was already working on a blockchain-based version of The Sandbox when it was acquired by Hong Kong-based gaming company Animocarbrands in 2018. Animoca launched a blockchain version in 2020 in support of Pixowl’s vision.

Over the years, Pixowl co-founded Xbox and received advice from various industry veterans such as Ed Price, who once served as vice president of game publishing at Microsoft.

Regarding funding, the Animocha brand raised $2.5 million for a sandbox development in 2019. That same year, the game received $2.5 million in funding from Square Enix, B Cryptos, and True Global Ventures.

The Sandbox has also partnered with popular brands such as Smurfs, Atari, Care Bears, Cryptokitties and more. The brand now has voxelized versions of their worlds and collectibles in the game.

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Changes in the price of SAND tokens

The Sandbox’s native token, SAND, hit an all-time high of $0.857 in March 2021, but is currently trading at $0.2249. SAND token is ranked 169th on CoinMarketCap, with 71 million units currently in circulation representing 23% of the maximum supply of 3 billion units.

25.82% of the total token supply was saved as an in-house reserve by Fixall, 17.18% was used for token seed sales, and 31% was distributed to the founders and team members. Of that, 10% was given to advisors as a reward and 12% was set aside for Binance Launchpad sales. The remaining 4% was used for strategic sales.

The price of the SAND token was driven mainly by Elon Musk’s tweet and the pudd created by China’s Bitcoin mining ban . Between April and May, the price rose from $0.33 to $0.72 and plummeted to $0.14 in mid-June.

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What is the future of The Sandbox?

Blockchain-based The Sandbox games involving player-owned NFTs should quickly gain traction in both crypto and gaming space. Sandbox currently has around 84,000 users and is expected to continue to grow.

Co-founder Borges noted that the company is aimed at “a specific audience who sees all of this as interesting and unique” and that selling virtual land is still new, and that the game has its own entry-level charm and helps people “block it.” You will be able to play without even knowing that there is a chain feature.”

Financially, The Sandbox is also making progress. In April 2021, land sales and market sales generated over $8.5 million in revenue, breaking a record high in the history of the platform.

Additionally, The Sandbox team continues to add new features and upgrades to the platform, and the Marketplace beta released in March has enabled artists to monetize their NFTs.

A recent campaign on the impact of the NFT on global climate could pose some problems for The Sandbox, but The Sandbox team is already working on a solution to that problem. For example, The Sandbox team is working to reduce the carbon footprint of NFTs by incorporating Polygon , a layer 2 solution that uses 100 times less energy than Ethereum . Once the integration is complete, sending an NFT from one user to another will be almost like sending an email.

Follow The Sandbox’s Medium page to get the latest information on The Sandbox’s coin information and other news.

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Conclusion

The Sandbox Games is an exciting project created to disrupt the highly centralized gaming industry and focuses on empowering users by allowing players to own everything they create within the game.

Finally, The Sandbox Game enables the seamless transfer and exchange of NFT assets between different platforms. It’s one of the first games to be well positioned.

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