CRYPTOCURRENCIES associated with the metaverse – a virtual universe – soared in value at the end of October 2021 after Facebook’s announcement that it would rebrand as Meta, with a mission to “bring the metaverse to life”.
But what is The Sandbox and will SAND reach $5?
What is The Sandbox?
The Sandbox is a virtual world build on Ethereum where players can build, own, and monetise their gaming experience.
The Sandbox is similar to Decentraland in that it’s a blockchain based metaverse.
The Sandbox allows players to buy digital plots of land, called LAND, that can be customised and designed with interactive game experiences, these can also be monetised to generate income for holders.
As well as the NFT-type LAND token, The Sandbox also has two other native tokens which govern the operations in its metaverse.
These are SAND tokens and ASSET tokens.
SAND tokens are used to make transactions, including purchasing LAND, interacting with user-generated content, and staking it to participate in the governance of the decentralised autonomous organisation (DAO).
The total supply of SAND is 3 billion.
ASSET tokens are NFTs which represent in-game items such as equipment for avatars and creations which are used to populate LAND. These can be traded in The Sandbox’s marketplace.
How does The Sandbox work?
The Sandbox currently features three main components; the VoxEdit, the Marketplace and the Game Maker took.
The VoxEdit allows users to build 3D models and design game items, the Marketplace then allows users to trade these items, and the Game Maker tool allows users to build their own games on their LAND inside The Sandbox with no coding knowledge required using ASSETS they created or bought on the Marketplace.
Users can upload their creations into The Sandbox marketplace, where first they are registered as ERC1155 tokens (ASSETS) on the Ethereum blockchain. These ASSETS can then be sold or bough using SAND.
The game itself isn’t live yet but in 2021 The Sandbox plans to launch the Foundation DAO with SAND staking for voting on Creators Fund management, continue regular LAND sales, enable multiplayer mode, and make the game available for different types of devices.
In 2022, The Sandbox hopes the game will be available on consoles, provide over 1,000 games in the metaverse and activate new features in Game Maker.
You can find The Sandbox’s full roadmap on their official website.
According to The Sandbox, they have already generated $144 million worth of NFT sales, with 12,000 unique LAND plot owners and 500,000 total users who have connected a cryptocurrency wallet to the platform.
Who founded The Sandbox?
The first version of The Sandbox was released as a mobile game in early 2012 as a collaboration between Pixowl which was led by Sébastian Borget and Arthur Madrid and game developer Onimatrix.
In 2018, game developer Animoca bought Pixowl and the company announced its intention of creating a 3D virtual world using blockchain technology to take advantage of user-generated content and token economics.
The Sandbox team held an initial coin offering in August 2020 and raised $3 million.
How can I buy SAND?
You can only buy the SAND token outside the game.
Coinbase, Binance, Huobi, and Uniswap are the major exchanges where you can buy SAND.
You will also need an Ethereum wallet such as MetaMask to store your SAND, which will enable you to buy and sell items in The Sandbox’s marketplace.
SAND price prediction 2021, 2022, 2023, 2024, 2025
Forecasting site WalletInvestor predicts SAND will finish 2021 trading at around $1.76.
By the end of 2022, they predict SAND will reach $2.55, $3.30 by the end of 2023, $4 by the end of 2024 and $4.78 by the end of 2025.
Meanwhile, DigitalCoin predict SAND will finish 2021 trading at $3.91, $4.51 by the end of 2022, $5.53 by the end of 2023, $6.83 by the end of 2024 and $8.02 by the end of 2025.
