4 months from the latest IEO launch date CTSI, CZ (CEO of Binance) has just announced the next IEO project on the Launchpad platform is Sandbox. In today's article, I will join you to learn about the Sandbox project & $ SAND token.
In this article, we will learn about 3 main parts:
- What is a sandbox, what is the project's ideas and products?
- Relevant information about the main token of the project (SAND) that we invest in?
- Finally, we will combine the above factors to review an overview to see if the SAND Token is worth investing or not?
- 1 Sandbox (SAND) price, marketcap, chart, and fundamentals info
- 2 What problem does the Sandbox (SAND) solve?
- 3 What is Sandbox (SAND) solution?
- 4 Sandbox ecosystem
- 5 What is SAND Token?
- 6 Some basic information about SAND Token?
- 7 Token Allocation SAND
- 8 Token sale SAND
- 9 Token Release Schedule
- 10 How to earn SAND token?
- 11 SAND token storage wallets
- 12 SAND Token trading platform
- 13 The future of SAND Token
- 14 Should invest in SAND Token
- 15 Summary
Sandbox (SAND) price, marketcap, chart, and fundamentals info
Sandbox is a Decentralized Virtual Reality Platform developed on the Ethereum Blockchain.
According to Coin98 definition:
Sandbox is a decentralized virtual reality platform developed on top of the platform Ethereum. Sandbox (SAND) allows players to create digital assets (NFTs), experience and monetize their own content.
Sandbox's vision to bring blockchain into the gaming industry. Engage both crypto enthusiasts and gamers by offering advantages like real ownership, rare digital assets, the potential for returns, and interoperability.
What problem does the Sandbox (SAND) solve?
The main problem that Sandbox (SAND) poses is "The uneven distribution of values between the parties".
In the current Game market, ownership is concentrated in the hands of Game publishers. They control player-generated virtual commodity transactions that limit the player's creativity.
Additionally, the Control over user-generated content is limited, they are easily duplicated and difficult to prove creative ownership.
What is Sandbox (SAND) solution?
The solution that Sandbox (SAND) offers is to build a gaming platform on the Ethereum Blockchain. Where creators can create, play, share, collect and trade without being controlled by the Game publisher.
In addition, players can enjoy secure copyright ownership with the ability to earn electronic money (SAND). Ownership of this copyright will be established and guaranteed through the use of the NFT Token, where every item in the game will have an identifier on the Ethereum blockchain.
I will introduce an overview of Sandbox, so that you can better understand Sandbox's ecosystem and related terms.
Sandbox is an ecosystem for Players and Creators consisting of 3 components:
- VoxEdit: Software to create voxel ASSETS (Standard ERC-1155), which can then become an immutable token (NFT) and be posted to the Marketplace.
- Marketplace: A decentralized marketplace for trading ASSETS in the game created in VoxEdit.
- The Game: The final ingredient is the game itself. Where brothers play games, enjoy and share gaming experiences. In the Game, Players can play to earn money by collecting resources, rewards, and tokens.
You have a picture like this, the ASSETS are the items you can create (cars, vehicles, dragons ...) and the LAND is the land where you live.
According to Sandbox's interpretation, LAND (which is a token built on Ethereum, uses the NFT standard ERC-721) is a physical space in the Metaverse owned by the player to create and monetize the game.
Metaverse is a virtual reality space in which users can interact with computer-generated environments and other users.
Each LAND comes with a set of pre-built terrains, but it can be formatted and modified by its own PLayers (or other players they invite to work with).
In the future, players will be able to combine LANDs together to form ESTATES, DISTRICT.
Understand simply the image of brothers in the Game, you can Build it, for the Equip (ASSETS). You can use SAND to make Build Avatar look better and cooler.
What is SAND Token?
In the Sandbox ecosystem there are many different tokens, each token serving separate functions.
SAND is the token you will invest in in the batch IEO this time by Binance.
SAND Token is a utility token in Sandbox, SAND is used as the basis for transactions and interactions in Sandbox's ecosystem.
SAND instances in the Sandbox ecosystem include:
- Currency: Players have the ability to collect SAND through the game and then spend SAND to play the game, buy equipment or customize the Avatar character. SAND is like the primary currency in Sandbox's ecosystem.
- Governance: SAND allows owners to participate in the governance decisions of the Sandbox ecosystem. SAND holders can vote on their own or authorize voting for other players of their choice.
- Staking: Users can use SAND to lock and earn rewards as SAND and Staking is the only way to receive Gems and Catalysts, which are necessary for creating Assets on the SAND ecosystem.
- Transaction Fees: Fee model = 5% of all transaction volume executed using SAND Token on Sandbox Marketplace. This amount will be allocated 50% to Staker and 50% to the Sandbox ecosystem development fund.
Some basic information about SAND Token?
- Token Name: SAND Token
- Ticker: SAND
- Blockchain: Ethereum
- Contract: 0x3845badAde8e6dFF049820680d1F14bD3903a5d0
- Token type: Utility
- Token Standard: ERC-20
- Total Supply: 3,000,000,000 SAND
- Circulating Supply: 705,000,000 SAND (Aug 05, 2020)
Token Allocation SAND
- Company Reserve: Account for 25.82% of total supply.
- Team: Account for 19% of the total supply.
- Seed Sale: 17.18% of total supply.
- Foundation: War 12% of the total supply.
- Binance Launchpad Sale: Warns 12% of total supply.
- Advisors: Account for 10% of the total supply.
- Strategic Sale: Accounted for 4% of the total supply.
Token sale SAND
Seed Sale and Strategic Sale round times are not available.
Token Release Schedule
Number of SAND conducted Binance Launchpad this time will not be locked. From July 07, SAND will be unlocked every 2020 months for all components. Each time, the number of Circulating Tokens in the market will increase around 6% of the total supply.
Refer to this article: What is Binance Launchpad? Experience buying IEO successfully on Binance LaunchPad
How to earn SAND token?
Currently SAND is not available on exchanges. If you want to buy SAND, you must wait until the Binance Launchpad of SAND ends and the Binance List, then you can buy it on the Binance floor.
Or you can join the Sandbox ecosystem to earn SAND.
SAND token storage wallets
SAND is an ERC-20 token so you can store it on the wallets that support this standard of Ethereum, but currently SAND has no circulation in the market so you can wait for SAND when it lists the floor:
Some wallets can be used to store SAND when List is on the floor:
- Saw Coin98 Wallet: This is the multi-chain wallet product of Coin98 Finance team. Allows storing most of the tokens of popular blockchains today such as Bitcoin, Ethereum (ERC-20, ..)
- Myetherwallet wallet, Mycrypto, Metamask.
Also, it can be stored on Binance's wallet after SAND IEO is finished and Listed on the floor.
Refer to this article: Instructions for using USDT Coin98 Wallet
SAND Token trading platform
Currently SAND has not been traded on any exchanges. If you see an exchange that sells SAND Token, and emphasizes that the Token of the upcoming IEO project of Binance is most likely Scam.
After the IEO August 13, SAND will be listed on Binance floor.
The future of SAND Token
According to Sandbox's White Paper, the global gaming market is expected to reach $ 171.96 billion by 2025. The online segment is estimated to see significant growth over the next eight years, expanding at a rate of 8.6%. from 2020 to 2025.
But in particular the Game Blockchain segment has not grown in scale, mostly stable throughout 2019. Even so there is still an increase in the way NFT assets are applied. The NFT community also recorded stronger activity levels than the previous year (Coingecko 2019 report).
From the perspective of being an Investor SAND Token (just a Token Holder), you can see that in the long term the price of SAND Token depends a lot on the Players and Creators community of Sandbox. The larger the ecosystem, the more valuable the project, in the long run the price will go with the value.
Should invest in SAND Token
This part will be my subjective perspective on the short-term future (the next 6-12 months) of SAND Token.
Ideas and products:
The idea of creating a Decentralized Virtual Reality Platform on Ethereum is not new. At the moment we have a few similar names that compete with Sandbox like Decentraland (MANA) Cap is currently around $ 25m.
The plus point is that the project has passed the concept stage, has specific and playable products, and Builds.
Current products on the Sandbox platform include:
- VoxEdit: Software to create ASSET.
- Marketplace: A decentralized marketplace for in-game ASSET trading created in VoxEdit.
- Game Maker: Toolkit that helps people create 3D games for free.
Team personnel are not equal hands, but have worked together and have experience working in companies related to the game or Blockchain:
- Arthur Madrid: Co-founder and CEO at Pixowl, a board member at Animoca Brands (a global developer leveraging popular brands, gamification, AI, blockchain).
- Sebastien Borget: Co-founder and COO at Pixowl, former COO at Wixi Inc and 1-Click Media Networks, President of Blockchain Game Alliance.
- Lucas Shrewsberry: CTO at Pixowl, head of engineering at Gameloft.
From the perspective of being a Token Holder and looking at the design of the use of the SAND Token, the Currency increases the circulation speed of the SAND Token in the market, so this is a SELL Demand for the SAND Token.
The other two designs, Staking and Governance, will make the Buy Demand of the SAND Token because it increases the demand for buying and hoarding.
The Transaction Fee is also a Buy Demand for the SAND Token because a portion of it will be shared among Token Holders who use SAND for Staking.
But according to Check Roadmap, the Staking and Governance feature will launch somewhere in 2021, so at the moment the BUY Demand from Tokenomics is not available.
Sandbox's 6-month token payment schedule is a SELL Demand for SAND Token, somewhere around 10% of Total Supply per payment.
Mainly in this 2020, the project will focus on improving the products in its ecosystem.
Two important and beneficial features for Token Holders are Staking and Governance, which will be Released in 2021, without any specific quarterly updates.
You can refer to the Roadmap of the project here.
Hopefully, my last article has helped you to have a better overview of the Sandbox project as well as the SAND coin.
And you guys, what do you think about the token after reading this article? Please share your opinion in the comment section or inside Group telegram.
I'm Vinh, and see you guys in the following articles!