What is The Sandbox? All you need to know about SAND Token

The metaverse has recently become a trendy topic. On October 29, 2021, Facebook officially changed its name to Meta, indicating its focus on the Metaverse field. Therefore, many crypto projects featuring metaverse products have experienced tremendous growth in the last ten days.

In this article, we would like to introduce Sandbox known as an Ethereum NFT Metaverse. We'll be covering the following topics:

• What is The Sandbox? How does Sandbox work?
• SAND Tokenomics and How/Where to earn and store SAND tokens?
• Roadmap & Updates.
• Team members, Investors, and Strategic Partners.

Let's explore the potential of SAND!

What is Sandbox?

The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences on the Ethereum blockchain.

The Sandbox aspires to be a destination for entertainment where businesses and celebrities can interact with their audience via virtual experiences in the Metaverse.

How does Sandbox work?

The Sandbox has developed a thriving community of creators that use VoxEdit and the #nocode (no need to know code) Game Maker to create their own NFTs and compete in SAND game contests with play-to-earn (P2E) rewards.

VoxEdit 

VoxEdit is a free 3D voxel modeling and NFT creation application for PC/Mac that lets you design and animate 3D objects called virtual goods including humans, animals, cars, greenery, tools, and goods. Voxels, which are square 3D pixels that look like building blocks, maybe edited with VoxEdit to achieve stunning results quickly. 

Virtual goods can be exported from VoxEdit into The Sandbox marketplace to become NFT game ASSETS once they've been produced.

The Sandbox’s NFT marketplace

The Sandbox’s NFT marketplace allows users to upload, publish, and sell their NFT creations made with VoxEdit. Creations are first uploaded into an IPFS network to provide decentralized storage and then registered onto the blockchain to prove ownership. 

Once this is accomplished, creations become ASSETS that can be sold by posting a first sale offer on the marketplace for potential buyers to purchase.

Game Maker

The Sandbox Game Maker allows anyone to build amazing 3D games for free. No coding is required thanks to accessible visual scripting tools to create stunning 3D games in minutes. Creators like you contribute to a vast metaverse, filled with a wide range of amazing interactive creations and experiences.

Economic Activities 

There are various methods to make money in The Sandbox. After you've created ASSETS with VoxEdit, you can sell them as NFTs on The Sandbox Marketplace.

You can also utilize The Sandbox Game Maker to develop and market your own games, or you can earn prizes by playing other people's games. 

You may also make money from your LAND by renting it out to other players or filling it with material to boost its worth.

What is the SAND token?

SAND is the utility token used throughout The Sandbox ecosystem as the basis of transactions and interactions. It is an ERC-20 utility token built on the Ethereum blockchain.

Detailed information about SAND Token

SAND Key Metrics

• 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: 892,246,119 SAND.

SAND Token Allocation

• Company Reserve: 25.82% (774,722223 SAND).
• Team: 19% (570,000,000 SAND).
• Seed Sale: 17.18% (515,277,777 SAND).
• Foundation: 12% (360,000,000 SAND).
• Binance Launchpad Sale: 12% (360,000,000 SAND).
• Advisors: 10% (300,000,000 SAND).
• Strategic Sale: 4% (120,000,000 SAND).
   

SAND Token Release Schedule

SAND tokens sold on Binance Launchpad will be released directly. The remaining tokens distributed through other channels will be unlocked gradually over 5 years.

SAND Token Sales

• Seed Sale Round: $0.0036 per SAND (515,277,777 SAND).
• Strategic Sale Round: $0.0050 per SAND (120,000,000 SAND).
• Binance Launchpad Sale: $0.008333 per SAND (360,000,000 SAND).

SAND Token Use Cases

• Governance: SAND is a governance token that allows holders to participate in Governance decisions of the platform.
• Staking: SAND allows for staking, which allows for passive revenues: Users get more SAND by staking it as well as GEMs and CATALYSTs for ASSETS creation.
• Transaction Fee Revenues: The fee capture model is 5% of all transaction volume carried out in SAND tokens shall be allocated with 50% to the Staking Pool as rewards for token holders that Stake SAND tokens and 50% to the foundation fund.

How to buy SAND Token

You can use Coin98 Wallet to swap other tokens for SAND following these simple steps:

Step 1: Open Coin98 Wallet on your mobile phone.

Step 2: Search SAND token.

Step 3: Choose SAND on Swap feature.

Step 4: Adjust the amount you want to swap.

Step 5: Adjust the gas fee, then click Approve.

You can also buy MANA token on Coin98 Exchange with the same steps. Coin98 Exchange is a decentralized exchange (DEX), a Multi-chain liquidity aggregator that offers users a wide variety of DeFi services (swap, stake, lend, borrow,...) through intuitive and simple interfaces.

How to store SAND Token

You can store SAND on Coin98 Wallet with these steps:

Step 1: Open Coin98 Wallet & click Search Icon on the home screen.

Step 2: Search SAND Token.

Step 3: Click on the correct result at Receive Tab with a specific chain (ERC20), copy the wallet address and send SAND to this address.

SAND Roadmap

The investment from SoftBank Vision Fund 2 will help Sandbox scale up its growth strategy, operations, and player acquisition in the Sandbox ecosystem while sending a clear statement that the world’s most innovative fund believes in Web3 and decentralization as the next major trend.

2020: 

• Release of VoxEdit beta
• Public release of Game Maker Beta.

2021:

• In 2021, Sandbox will mainly focus on the initial launch of the game, the sale of SAND, and the Staking SAND mechanism.
• Launch of Foundation DAO with SAND staking.

2022: 

• Upgrade gameplay: Playable on multiple platforms.
• Release of the co-building mode of Game Maker.

Team, Investors, and Partners

Team 

Arthur Madrid (CEO) is featured in numerous industry and trade media and serves on the board for Animoca Brands. As co-creator of the franchise, he guides the overall vision and direction for The Sandbox project.

Sebastien Borget (COO) is President of The Blockchain Game Alliance and is featured in countless summits, interviews, and industry opinion media coverage.

Investors

On November 2nd, 2021, Sandbox announced that they raised $93 million in a Series B fundraising round led by Softbank Vision 2 Fund. The Sandbox becomes the latest blockchain-based game to raise money in an effort to scale the metaverse to hundreds of millions of users. 

Other investors in the round included Animoca Brands, True Global Ventures, Liberty City Ventures, Galaxy Interactive, Kingsway Capital, Blue Pool Capital, LG Technology Ventures, Alpaca VC, Graticule Asset Management Asia, Com2uS, executives at GoldenTree Asset Management, Nokota, Sun Hung Kai & Co, Sound Ventures, Red Beard Ventures, SCB 10X, Polygon Studios, Samsung Next, Double Down Partners, StakeFish, SterlingVC, and HodlCo.

Partners

Sandbox partnered with over 165 brands, IPs, and artists including Snoop Dogg, DeadMau5, Avenged Sevenfold, The Walking Dead, Smurfs, Manchester City, Square Enix, Atari, and others reaching an audience of over 1 billion fans.

Is The Sandbox (SAND) a good investment?

Metaverse coins have been affected by Facebook's decision to change their name to Meta and focus on the metaverse. The spread of the Metaverse, as more significant firms begin to focus on similar virtual worlds, could have a favorable impact on Metaverse Crypto initiatives.

Sandbox has received a significant investment from SoftBank, demonstrating that huge investment funds are also interested in Sandbox and the Metaverse industry.

However, I believe that the current Blockchain infrastructure such as Ethereum might be insufficient to support the Metaverse Game. So, you can think of this as a long-term investment at this stage.

Metaverse is now experiencing FOMO (Fear Of Missing Out) signs from the market. Before adding SAND to your portfolio, you should carefully monitor the crypto market's movement and determine the proper price range for your entry.

Disclaimer: All the information in this article is only for information purposes and should NOT be considered investment advice. Investing in Crypto contains hugely high risks, and you should only invest the fund you are willing to lose.

Similar Projects?

Decentraland (MANA): Decentraland is a project that provides an infrastructure to support a shared virtual world, also known as a metaverse. It consists of a decentralized ledger for land ownership, a protocol for describing the content of each land parcel, and a peer-to-peer network for user interactions.

Axie Infinity (AXS): A popular blockchain game that was inspired by the massively successful Pokemon game series.

Radio Caca (RACA): The exclusive manager of Maye Musk Mystery Box (MPB) NFT and DeFi+GameFi vehicle for The USM Metaverse.

Conclusion

So I have provided you with the latest information from the Sandbox and SAND Token. SAND is pretty unique when it comes to blockchain virtual-reality platforms. What do you think about the future of the Sandbox? Please comment below to discuss with Coin98.