Sandbox (SAND)
What is The Sandbox (SAND)?
The Sandbox is software running on Ethereum that operates a decentralized virtual gaming world.
At its core, the Sandbox is a game in which players can buy digital plots of land, called LAND, and create experiences on top of them to share with other users. In this way, The Sandbox is one model of a blockchain-based metaverse in the same vein as Decentraland.
In addition to the NFT-type LAND token, The Sandbox has two other native tokens that govern the operations in its metaverse:
SAND tokens – Used to facilitate various transactions that are part of its gameplay, including purchasing LAND, interacting with user-generated content, and staking it to participate in the governance of the decentralized autonomous organization (DAO).
ASSET tokens – Non-fungible tokens (NFTs) representing in-game items such as equipment for avatars and creations that are used to populate LAND. They can be traded in The Sandbox’s marketplace.
For new releases and to follow its regular updates, be sure to bookmark the Sandbox’s blog.
Who created The Sandbox (SAND)?
The first version of The Sandbox was released as a mobile game in early 2012 as a collaboration between Pixowl (led by Sébastian Borget and Arthur Madrid) and game developer onimatrix.
In 2018, game developer Animoca acquired Pixowl and the company announced its intentions to create a 3D sandbox-style world by leveraging blockchain technology to take advantage of user-generated content (UGC) and token economics.
The Sandbox team held an initial coin offering (ICO) in August 2020, raising the equivalent of $3 million to fund its future operations.
How does The Sandbox work?
The Sandbox software leverages the Ethereum blockchain to track ownership of the digital LAND and NFT ASSETS on its application. Users further engage with its ecosystem using Ethereum wallets that hold their SAND tokens.
Developers are also free to innovate within the Sandbox’s platform by designing the animation and interactions experienced on their virtual real estate using several tools:
Voxel Editor – Users can create voxels, the smallest unit of three-dimensional design, to design and bring to life creations like flora, fauna, and avatar-oriented equipment (such as clothing or weapons).
Game Maker – Tools that allows users to build 3D games on their LAND, using ASSETS they created or bought on the marketplace
Users can upload their creations into The Sandbox marketplace, where first they are registered as ERC1155 tokens (ASSETS) on the Ethereum blockchain. These ASSETS can then be bought and sold using SAND.
Why does SAND have value?
SAND is the utility token of The Sandbox’s versatile ecosystem and can be used for creating ASSET tokens, buying and selling ASSETS on the marketplace, participating in transactions involving LAND, and to interact with user-generated experiences.
SAND is also the governance token of The Sandbox DAO, which means that ownership of SAND tokens grants users voting rights to improve the platform as they wish.
Further, the supply of SAND is limited, meaning that according to the software’s rules, there will only ever be 3 billion SAND tokens.
Source : KRAKEN
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Cryptocurrency