DecentraNews – Metaverse, MANA, LAND, ETH, NFT's and Crypto News

Decentraland, Metaverse, MANA, LAND, ETH, NFT's, and Crypto News. Get up to date with the latest news about the Metaverse and NFT scene.

What is The Sandbox, why does it matter?

The Sandbox

The Sandbox

What is The Sandbox?

The Sandbox is a metaverse where players and creators can build, own, and monetize their gaming experiences on the Ethereum blockchain using $SAND, the platform’s utility token.

Their vision is to offer a deeply immersive metaverse in which players will create virtual worlds and games collaboratively and without a central authority. The decisions are in the player’s and investors’ hands. They are aiming to disrupt the existing game makers like Minecraft and Roblox by providing creators true ownership of their creations as non-fungible tokens (NFTs) and rewarding their participation with our utility token – SAND.

A User-Generated Content Ecosystem

The Sandbox gaming ecosystem consists of three integrated products that together provide a comprehensive experience for user-generated content (UGC) content production. First, there is the VOXEDIT tool. This simple to use yet powerful free 3D voxel modeling package allows users to create and animate 3D objects such as people, animals, foliage, and tools, and export them into The Sandbox marketplace to become game ASSETS.

Then there’s the marketplace.

This simple to use yet powerful free 3D voxel modeling package allows users to create and animate 3D objects such as people, animals, foliage, and tools, and export them into The Sandbox marketplace to become game ASSETS.

And the Gamemaker.

Anyone who owns ASSETS, either by making them in VoxEdit or purchasing them, can utilize them with the third and most important ecosystem product, the Game Maker and the Game itself. This product, when launched in Game Maker mode, enables users to place and use their ASSETS within a piece of LAND (an ERC-721 token) that they can own in the virtual world. Users can decorate their LAND with ASSETS, and more importantly, implement interesting and nuanced gameplay mechanics by assigning predefined behaviors to the ASSETS through visual scripting nodes, turning a LAND from a decoration experience into a potential full game experience.

Gaming and NFT’s

The Sandbox virtual world uses blockchain technology and NFTs to empower the players and creators. NFTs are an emerging segment in the global game market: virtual tokens for digital scarcity, security, and authenticity. Each NFT is distinct or unique, it is indivisible and it is not interchangeable for another. Usually, if there is more than one of the same item, they have different serial numbers.

Gamers are the true and perpetual owners of their digital items, even if the game was shut down or abandoned. With blockchain, every game item can be tokenized; allowing gamers to decide how they want to trade, sell, or gift their items.

All on the open ledger

Digital game items can be easily tokenized and traded in primary and secondary markets that are managed and facilitated by blockchain technology. Items based on scarcity and demand usually invite fraud and theft, but these risks are minimized on blockchain because it is a distributed ledger.

Blockchain-based gaming platforms can also provide users with ultimate control over their digital assets. They can buy and sell items freely without concern that they will be ripped off or that a platform will close and cancel all the value of their in-game items.

What is SAND and what is it used for?

SAND is an ERC-20 utility token built on the Ethereum blockchain that serves as the basis for transactions within The
Sandbox, and has multiple uses. Players spend SAND in order to play games, buy equipment, or customize their Avatar character.

Creators spend SAND to acquire ASSETS, LANDS, and through Staking. LAND Sales drive demand for SAND to purchase LANDS. Artists spend SAND to upload ASSETS to the Marketplace and buy Gems for defining Rarity and Scarcity.

Sand is also a governance token

SAND is also a governance token that allows holders to participate in Governance decisions of the platform. They can exercise voting rights on key elements such as; Foundation grant attributions to content and game creators and feature prioritization on the platform Roadmap.

You can also stake your $SAND, which allows for passive revenues on LANDS: you get more SAND by staking it. This is also the only way to get valuable Gems and Catalysts, needed for ASSET creation.

Those stake rewards are allowed by a fee capture model. Five percent of all transaction volume carried out in SAND tokens (Transaction Fees) are allocated to the Staking Pool. They are given as rewards for token holders that stake the game’s currency.

It’s gaining momentum

Out of the $10 million in transactions last month, half of them ($5 million) have been made over the last week. They also had their premium land auction land week. Which seems to have been successful. The currency, on the other hand, has been in a freefall since the end of March. Tumbling from $0.82 all the way down to $0.54 at the time that I am writing this article. Maybe it’s time to buy the dip?

The partners who acquired Land in The Sandbox’s metaverse

NiftyGateway, 21x, and Gemini, as well as renowned Silicon Valley based VCs and investment partners including Bill Lee (co-founder of Craft Ventures), Ken Howery (co-founder and former managing partner at Founders Fund), Sundeep Madra (vice president at Ford X).

Gemini Frontier Fund (founded by Tyler and Cameron Winklevoss), Galaxy Interactive, Alex Reece (early investor in Unity, Draft Kings, and Lyft), Michael Witz (founder of Redemption Games), Edward Saatchi (founder of virtual beings company Fable), and Patricio Fuks (serial entrepreneur) as well as Uken Games as gaming partner, and heavy metal band, Avenged Sevenfold.

Share with post with your friends :