SAND is an Ethereum token that powers The Sandbox, a multiplayer metaverse where players can create, monetize, and participate in blockchain-based gaming experiences. In The Sandbox, game designers can create custom 3D NFTs that can be used across the ecosystem. SAND can be used to buy and sell NFTs and other in-game items, and can also be used to vote on the future of the platform.
What Is The Sandbox (SAND)?
The Sandbox is the decentralized community-driven metaverse gaming ecosystem where players can mainly create, own, and tokenize their gaming experiences using the native token of the platform. The project's primary aim is to bring blockchain technology to the mainstream gaming industry by attracting crypto and non-crypto gaming enthusiasts and offering various advantages.
As per the whitepaper, the three integrated products that the platform provides, Voxel Editor, Game Maker, and Marketplace, enhance creators' experience and help them with user-generated content production. Further, the newly generated content can be in the form of games, art galleries, or dioramas. Players can share them with others too. In addition, creators can monetize these creations to earn a passive income from The Sandbox by uploading them to The Sandbox’s NFT marketplace.
Creators are offered copyright ownership of their content through blockchain and smart contracts in the form of NFTs. Therefore, their content is secure. Moreover, The Sandbox rewards creators' participation with the native utility token. To create an account on The Sandbox, a user needs to connect a Metamask, Bitski, or Venly wallet.
The Sandbox uses various token types for users who interact with the platform, like players, creators, curators, and landowners. The Sandbox also has a digital real-estate platform in the metaverse. Creators and game designers must build their creations on LAND and populate them with ASSETs.
Each LAND is an ERC-721 non-fungible token on the Ethereum blockchain. On the other hand, ASSET is a token created by players to assign user-generated content. ASSETs utilize the ERC-1155 standard and can be uploaded on the marketplace for trading.
SAND is an ERC20 as well as a governance native token of The Sandbox platform, built on the Ethereum blockchain. SAND has many use cases on the Sandbox platform.
SAND is used to access the platform, play games, buy and sell NFTs from the marketplace, and customize avatars.
Users need to hold SAND to participate in the platform's governance.
SAND is required for creators to upload their voxel creations to The Sandbox's marketplace for monetization.
Some of the games on the platform are free to play, but not all of them. Players need to give a small number of SAND tokens to access those games.
Using play-to-earn gaming models, players can earn SAND tokens.
In order for users to hire game designers and artists on the platform, SAND tokens are needed.
SAND allows for staking on the platform; in turn, stakers can earn rewards for holding their tokens.
The company has no plans to burn any SAND tokens in the future. The tokens that the users consume are put back into the ecosystem via The Sandbox Foundation to support the content generation process by staking and rewarding creators. Coin burning is when a fraction of tokens are sent to a wallet with no private key. These tokens are lost forever. Tokens are usually burned to reduce availability and increase market value.
The smart contracts of The Sandbox are publicly available on Github and have been audited by Certik Audits.
History of The Sandbox (SAND)
The Sandbox company was founded in 2011. The Sandbox is the newer version of the Sandbox Franchise. The company has more than a decade of experience in the gaming industry. Many mobile games were developed and released for iOS and Android smartphones during this period. Moreover, the earlier gaming applications of The Sandbox had a user base of more than 40 million players. The company also launched The Sandbox 1 and The Sandbox Evolution mobile games before launching The Sandbox. These were the two predecessors of this new blockchain-based version of the game.
Arthur Madrid is the CEO and director of The Sandbox. He is a long-time social gaming entrepreneur. He is also the cofounder of Pixowl and a board member of Animoca Brands.
