The Sandbox is a play-to-earn game that utilizes blockchain, DeFi, and NFTs to allow players to design and build their games and digital assets and customize them. After the debut of SAND Alpha and the incorporation of the 3D metaverse, the Sandbox (SAND) has seen a significant increase in on-chain action.
Also, the blockchain-based platform enables gamers to monetize virtual reality voxel assets and games. Gamers can then sell these virtual goods for SAND tokens, a utility token used in the Sandbox ecosystem for transactions and interactions. It may also be purchased using Bitcoin or altcoins on cryptocurrency exchanges.
Introduction to the gaming industry
The decentralized gaming sector is growing and gaining popularity. In recent years, the use of blockchain technology has exploded, with gaming being one of its most important uses. Blockchain technology is changing the way games are developed, managed, and played now and in the future.
The metaverse has had a huge influence on the decentralized gaming industry. It provides the infrastructure for virtual worlds to be created, allowing for more immersive and social gaming experiences. Furthermore, it has aided in creating more collaborative and participatory games.
What is the Sandbox?
The Sandbox is a blockchain-based virtual gaming environment that runs on Ethereum software. Players purchase digital tracts of land, known as LAND, and use them to construct experiences that they can share with other gamers. This makes the Sandbox one type of blockchain-based metaverse.
The Sandbox’s metaverse also includes two additional native tokens: SAND coins, which are used to conduct various transactions in the game. Finally, ASSET tokens – Non-fungible tokens (NFTs) represent in-game items such as avatars’ equipment and buildings. Gamers can also sell them on The Sandbox’s marketplace.
The Sandbox is best known for its two games. Pixowl released the Sandbox in 2011, and The Sandbox Evolution was released in 2016. They both have over 40 million downloads on iOS and Android combined. In 2018, Pixowl brought its content and community to the blockchain ecosystem.
How does The Sandbox Work?
Developers can also experiment with Sandbox’s platform by customizing the animation. They can also produce NFTs that include avatars, virtual goods, and even games using VoxEdit and Game Maker:
- Voxel Editor: VoxEdit is a simple-to-use yet powerful free 3D voxel modeling and NFT creation tool. Voxels, which are square 3D pixels similar to LEGO bricks, are edited using VoxEdit to produce images such as clothing, weapons, flora, and fauna. Once complete, items are exported from VoxEdit into The Sandbox marketplace as NFT game ASSETS.
- Game Maker: It allows users to build 3D games. It is free, and no coding is required. People can design and organize different elements in a place called LAND.
The Sandbox Marketplace
A Sandbox marketplace is a computer-based environment where consumers may experiment with items, services, and concepts before putting them on the market. Users can also upload, publish, and sell their Voxedit-made NFTs.
Sandbox was launched in April 2021 as an NFT marketplace for gamers to exchange in-game assets with SAND. Creations are first uploaded into a decentralized network to prove ownership. Once approved, they are placed in the marketplace and sold as ASSETS.
What is SAND?
The Sandbox’s ERC-20 SAND token is the cryptocurrency that powers all of the ecosystem’s transactions and interactions. The following are used cases for SAND. It is utilized to access The Sandbox platform. Players use SAND to engage in games, purchase goods, or modify their Avatar character on the platform. It is also employed as a governance token using DAO technology. Lastly, Staking is possible with SAND, providing continuous revenue.
What are ASSETS?
The ASSETS token is a crypto-collectible token created by gamers who develop or assemble user-generated content, such as NFTs. The ERC-1155 standard is utilized by ASSETS, which gamers may exchange on the marketplace. Its primary purpose is to provide artistic inspiration for The Sandbox Game Maker.
What is LAND?
In The Sandbox metaverse, the LAND is a digital piece of real estate. Players purchase LAND to create games, assets and live experiences. Each LAND is a non-fungible token on the open public Ethereum blockchain (ERC-721). Players may also build an ESTATE by combining LANDs.
$100 Million metaverse land sold in a week
According to DappRadar, activity has increased recently, with land sales worth more than $100 million reported in the previous week. Metaverse land is a new way to trade crypto. It has traded $100 million worth of the token.
In the space of blockchain projects, The Sandbox is ahead by $86.5 million. Decentraland came in second at $15.5 million, followed by CryptoVoxels and Somnium Space, coming in third at $2.68 million and last at 1.1 million respectively. The market trade attracted more than 6000 traders globally.
This all has allowed metaverses to rise to the top of the rankings, with The Sandbox becoming the second most-traded NFT collection behind Bored Ape Yacht Club and CryptoPunks.
Virtual worlds are fast becoming the new commodity in the cryptocurrency market, with record sales and continuously rising NFT prices. The media frenzy surrounding virtual reality platforms like The Sandbox and Decentraland began with Facebook’s rebranding to Meta.
Bottom Line
Sand is a decentralized marketplace for in-game virtual assets. The system makes buying and selling digital content simple, including game characters, weapons, armor sets, power-ups, and more. The Sandbox is unlike other play-to-earn games in that it does not have a pre-designed gaming environment.
It’s a platform for gamers who enjoy crypto to purchase items as they would from an online shop or auction site without leaving their preferred games. With over $100 million worth of real estate sold in a week on Metaverse (MVP), the sector may be ready for exponential development.
