SandBox: cryptocurrency for investing in the metaverse and gaming platform
After Mark Zuckerberg announced Facebook as a metaverse, this term quickly spread in the cryptocurrency community. Now cryptocurrency is not only electronic money, but an entire ecosystem. This also applies to The Sandbox project (https://www.sandbox.game), which is a platform for developing applications and games. Sandbox cryptocurrency –SAND) is a token of a gaming platform that allows its participant to monetize virtual experience and get real profit.
What is a Sandbox, the history of its appearance
The platform began to be developed in 2011. It was a project of A. Madrid and S. Borget, who decided to combine the capabilities of decentralized technologies and NFT tokens.
Translated into Russian, the word “Sandbox” means “sandbox”. The project was created on the Ethereum platform in the form of a game. Players can buy and sell Lands and digital assets for tokens. They can also earn money from advertising by placing logos of famous brands on objects.
The Sandbox mobile game appeared in 2012. Three years later, the PC version was launched. And in 2018, the development of the blockchain version began. Two years later, a game token called SAND appeared on the cryptocurrency market.
Sandbox Ecosystem Products
The main products of the ecosystem are:
- VoxEdit is a 3D modeling package for animating people, plants, animals and other virtual objects of the game. The created models can be exported to the Sandbox Marketplace and sold;
- Marketplace is an environment for publishing and selling objects created in VoxEdit;
- SandboxGame Maker is a tool for free 3D game development. It is based on the technology of visual modeling, which does not require the user to be able to program. Any user can create a game in Sandbox Game Maker within a few minutes.
The authorship of the developed content is protected by the NFT token. The developer remains the owner of the assets even after exiting the game.
Features of the Sandbox Metaverse
The goal of the platform is to create a metaverse without any centralized authority. The development of the game is decided by voting, in which all token holders can participate.
Users can create their own games, and retain ownership of the development. This distinguishes Sandbox from other popular games. Each item in the game is a non-interchangeable token.
There are four types of users of the Sandbox metaverse: players, creators, curators, and landowners. One user can combine several roles, for example, play and develop tokens of new assets. Filling Lands with assets increases their value as objects for sale.
The platform has several types of tokens: SAND (Sand), LAND (Land), ASSETS (Assets).
The SAND token and its application
This is the main token of the platform, which is used as a necessary element for conducting all transactions and interactions. Developed according to the ERC-20 standard (the main standard in the Ethereum blockchain). It operates on the Ethereum platform. The developers claim that in the near future the token will support other platforms.
The token can be used in stacking, providing the owner with passive income. A 5% commission is charged for transactions using the token. Half of this income is distributed as a reward to token holders.
SAND is also a management token. Its owners can participate in voting on the distribution of grants and the choice of priorities for the development of the platform.
What is LAND
Earth is a digital asset in the Sandbox metaverse. Each Land is a non-interchangeable token. The buyer of the Land can populate it with players and fill it with other assets.
By combining several Lands, you can build an Estate that has more functionality compared to a separate Land.
What is NAT in Sandbox
NFT is a non-interchangeable token. Each such token is unique. He is often attached to paintings, musical works and other art objects.
In the Sandbox game, in the form of such tokens, there are Lands and all digital assets, including game items. Thus, the copyright of developers is confirmed through tokens.
How to make money in Sandbox
The main ways to earn money in the Sandbox are as follows:
- create objects in Vox Edit and sell them;
- develop and sell games in SandboxGame Maker;
- buy Land and rent it out.
There are other ways to generate income: stacking, placing virtual billboards.
You can buy a game token on well-known cryptocurrency exchanges, for example, Binance.
Cryptocurrency Sandbox: forecast and prospects
In 2021, many new tools should appear in the Sandbox ecosystem, including smart contracts and the development of decentralized applications. The roadmap of the project is painted until 2023. This creates prerequisites for the growth of the cryptocurrency price.
Cooperation with well-known brands seems promising. So, after the appearance on the network of messages about the support of the project by Adidas, there was a sharp increase in the value of the SAND token (by almost 500%).
At the same time, it should always be remembered that any cryptocurrency is characterized by increased volatility, which is associated with high risks. Therefore, it is possible to invest in Sandbox (and other similar projects) only the amount, the loss of which will not have catastrophic consequences for the investor.
Published: 7 January, 2022