The Sandbox metaverse has been the talk of the crypto town since its launch. Companies like Tesla, Roblox and Binance have all purchased land in the sandbox, making the ecosystem highly desirable.
Sandbox is a virtual world originally developed by PIXOWL and was acquired in 2018 by Animoca Brands. The Sandbox metaverse launched back in 2012 and is available on PCs, mobile phones and Microsoft Windows. Public LAND sales began in 2021, creating excitement and popularity around the game.
The Sandbox Metaverse is Changing the Game
The Sandbox metaverse allows users to buy, sell and trade LAND among other digital assets. LAND are NFT plots of land for the game. LAND owners have the opportunity to build virtual games and experiences on top of their property and even rent it out. Passive income can be earned, parties can be thrown and games can be developed, all on top of the Sandbox.
The Sandbox metaverse is built on top of the Ethereum blockchain. The cryptocurrency SAND powers the metaverse and is used throughout the game. Sandbox offers a virtual hangout with mini-games, customizable worlds, and in-game ownership.
Innovation in The Sandbox Metaverse
Many brands have explored the Sandbox metaverse since private LAND pre-sale began. Tesla become one of the most notable companies owning land in the metaverse, making headlines for virtual purchase. Snoop Dogg also owns land and the properties around his are highly sought after. One even went for 71,000 SAND or just under half a million dollars. Other companies that can be found in the Sandbox metaverse include…
- GameFi Ventures
- The Care Bears
- The Walking Dead
- The Smurfs
- Snoop Dogg
- Dapper Labs
- South China Morning Post
- Steve Aoki
Some companies acquired LAND through partnerships with Sandbox and Animoca Labs’ ecosystem of brands. Others purchased land specifically to advertise or build an experience. Regardless of the reason, each brand is exploring Web3 thanks to the Sandbox.
The Sandbox Crypto
The SAND token, is the native token to the Sandbox metaverse. The game also utilizes LAND NFTs for the transaction of pieces of property. 1.3 ETH is the current floor on OpenSea for LAND while the SAND prices hovers just over $1.00. In November of 2021 when the LAND went public, SAND went for over $8.00 per token.
One billion SAND tokens (ERC-20 tokens) are currently in circulation with three billion set as the total supply. There are 166,464 plots of LAND, which are ERC-1776 tokens on the Ethereum blockchain. The Sandbox metaverse relies on both tokens for the ecosystem. In-game digital assets can be sold for SAND tokens and are paid to those renting out property.
Sandbox is a revolutionary project under an umbrella of an innovative, Web3-based company. Virtual worlds will gain value as more people join and Sandbox is already well positioned to lead the space. Only a few other metaverses compare to the popularity of Sandbox, namely Decentraland and Axie Infinity. These three protocols make up the three largest metaverse-based projects. Keep an eye on these three projects to see what company joins Web3 next!
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