What Is The Sandbox Coin (SAND) & How It Works: Full Review Of A Metaverse In 2022

What is the sandbox & How it works

Sandbox is one of the rare projects in the game field that has been IEO on Binance Launchpad. In today’s article, Cove Markets will give you guys a full insight about What is the Sandbox project exactly & the SAND token.

What is The Sandbox (SAND)?

What is The Sandbox

On the Ethereum blockchain, players can create, control, and monetize their own virtual environment called The Sandbox. The Sandbox wants to be a place for entertainment where brands and famous people may engage with their followers through digital experiences in the Metaverse.

Background of The Sandbox

Launched in 2011 by Pixowl, The Sandbox was originally a mobile gaming platform aimed at competing with Minecraft. The Sandbox created a buzz and attracted more than 40 million downloads worldwide.

However, in 2018, the project’s two co-founders, Arthur Madrid and Sebastien Borget, decided to explore the potential of creating a 3D metaverse on blockchain. Their goal is to allow users to own their innovative work in the form of NFTs and earn rewards for joining the ecosystem. The new Sandbox project was released in 2020 and became one of the fastest growing titles in the crypto world, along with Axie Infinity and Decentraland.

In November 2021, The Sandbox raised $93 million from investors led by Japanese mobile service giant SoftBank. The game also attracted more than 50 partners, including Atari, a popular game company, CryptoKitties, The Walking Dead and hip-hop star Snoop Dogg.

How Does The Sandbox Work?

The Sandbox is a dynamic virtual world with creative products created by users. Players can build and create their own NFTs, including avatars, virtual goods, and even games using VoxEdit and Game Maker. Not only can players use virtual goods to interact with other players, but they can also monetize these NFTs by trading on the Sandbox Marketplace.

What Problems Does The Sandbox Solve?

The uneven distribution of value among the parties is the main problem that Sandbox poses. Currently, the game market is owned by major game publishers. They take control of the commodity transactions in the market that limit the creativity of the players.

Additionally, controls over player-generated content are limited. The content on the Sandbox game is quite easy to copy and in this case it is difficult to prove the user’s creative right.

Having grasped the above problems, Sandbox proposed the main solution to create a game platform on the Ethereum Blockchain. This makes it possible for users to create, share, participate in play, collect and perform transactions without falling under control from the game publisher.

In addition, players have a safe and guaranteed copyright for earning SAND cryptocurrency. They are securely established using the NFT Token. In particular, the items in the game will be given an identifier on the Ethereum blockchain platform.

The Sandbox Team

  • Arthur Madrid – CEO and Director of The Sandbox: Arthur Madrid is the co-founder and CEO of Pixowl, which Animoca Brands bought in 2018. (40M players). Longtime social game entrepreneur and board member of Animoca Brands. He served as an advisor for gaming, social media, and software startups after selling two software businesses, Wixi Inc. and 1-Click Media. Arthur started his career as one of the first platforms for Distributed Computing Software (DCIA) by developing a P2P delivery platform for media firms. As CEO and Co-Founder of The Sandbox, he is currently concentrating on Blockchain Gaming.
  • Sebastien Borget – COO and Director of The Sandbox: Co-founder and Chief Operating Officer of both The Sandbox and Pixowl (which Animoca Brands acquired in 2018), Sébastien Borget (40M players). He is a very active speaker and enthusiast on the possibility Non-Fungible Tokens brings to gaming. He is passionate about blockchain technology, gaming, and education. With The Sandbox, one of the most anticipated and highly rated blockchain games of 2019 (#13 in the Top 50), he is now creating the metaverse. This game gives players power through NFTs by allowing them to own, buy, sell, and trade their 3D creations on their Marketplace and use them in their Game Maker. In 2020, Sebastien also assumed the presidency of the Blockchain Game Alliance.
  • Marcelo Santurio – CFO of The Sandbox: Marcelo Santurio, who has over 20 years of experience in finance, technology and gaming, is the co-founder of the first online payment company in Latam. MBA with a major in finance from the London Business School and completed a program in entrepreneurship at MIT.
  • Pablo Iglesias – Inventor of The Sandbox Game: Pablo Iglesias has extensive experience in researching and developing emergent procedural systems, and has successfully led teams of professionals through the development of several games.
  • Lucas Shrewsbury – CTO of The Sandbox, ex-CTO of Gameloft: After spending more than a decade leading mobile gaming studios, Lucas Shrewbusyr is now managing a team of 200 people at Gameloft Argentina.

The Sandbox Team

Partnerships

The Sandbox has partnered with some of the biggest names in the entertainment and gaming industries to create a one-of-a-kind play-to-earn platform. With partnerships ranging from Adidas and Snoop Dogg to The Walking Dead and South China Morning Post, The Sandbox offers virtual worlds and game experiences that are owned and created by players. The play-to-earn model gives players true ownership of anything they collect in the game, allowing them to trade it to other players (including outside the game on other websites), transfer it to other players, or even resell it.

What Is SAND Token?

SAND is a utility token that can be used to play games, purchase equipment or customize avatars. Users can earn the token while playing the game. SAND is also a governance token, meaning that users who hold the token can vote on decisions affecting the future of the game. SAND is the perfect token for gamers who want to be involved in the future of their favorite games.

Basic Information About SAND

  • Token Name: SAND Token.
  • Ticker: SAND.
  • Blockchain: Ethereum.
  • Contract: 0x3845badAde8e6dFF049820680d1F14bD3903a5d0
  • Token Standard: ERC-20.
  • Total Supply: 3,000,000,000 SAND.
  • Circulating Supply: 1.39B 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).

Allocation

Token Sale

  • 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).

Price of SAND Today

  • The Sandbox is now trading for $1.29 USD. In the past 24 hours, The Sandbox has decreased by 2.34%. With a live market cap of $1,800,798,338 USD, SAND now ranks #37 on CMC.
  • Maximum supply of 3,000,000,000 SAND coins and a circulating supply of 1,391,524,311.
  • 24-hour trading volume: $387,979,050

What is SAND Used For?

  • Users can use SAND to play games, purchase equipment, and customise their in-game Avatar character.
  • Staking the token allows players to earn additional SAND, allowing them to earn passive income on LANDS.
  • SAND holders have governance rights, which means they can use their tokens to participate in voting.

What is SAND Used For

How to Buy SAND Tokens?

The token of Sandbox is tradeable on a variety of cryptocurrency exchanges. Currently, SAND can be purchased on Gemini, Crypto.com, Binance, Huobi, or KuCoin.

The steps for buying SAND are the same as those for buying any other cryptocurrency. Take Binance as an illustration. An account must be set up with the cryptocurrency exchange by the user. After that, their account must be verified.

They must visit the spot market and select a crypto-pairing that contains SAND once their account is prepared. They will subsequently be able to exchange USDT for SAND and LAND, for instance.

Users have the option to move the tokens toward the game or store them in their exchange after purchase. They will be able to buy different NFTs in the game by using LAND.

Read more: Coinbase vs Gemini: A Comparison for Cryptocurrency Traders

How to Store SAND Coins?

Since the Sandbox (SAND) is on the Ethereum network (ERC-20), any wallet that is compatible with ETH can be used to store it. See the suggested wallets below.

  • On Ledger and Trezor, there are instructions for managing ERC-20 tokens that are not officially supported. Connecting your Ledger or Trezor to MyEtherWallet or MyCrypto is required.
  • After buying coins, you can keep them on exchanges, but for security and long-term storage, we advise utilizing a dedicated wallet. The most secure wallets are hardware ones, but they are expensive. For individuals holding a lot of value or planning to store for a while, they are the ideal option.

Another option is to use hot wallets, you should take a look to Trust Wallet or Metamask for the best.

Read more: Best Crypto Wallets For Storing Coins In 2022: Hot Wallets & Cold Wallets

Goals of The Sandbox

The Sandbox games intend to use their own native coin to accomplish three main objectives.

  • First and foremost, they want SAND to become the ecosystem’s exclusive currency for digital assets.
  • Second, they want SAND to offer a seamless payment process for every type of digital activity and content.
  • Thirdly, they want SAND to assist them in creating a sizable community surrounding their video games.

Over $2 million has already been raised for game development by The Sandbox Games from private investors. To generate even more money, they’re currently preparing to conduct an initial coin offering (ICO).

The ICO is expected to start on February 28 and last for 30 days. The Sandbox Games will offer 500 million SAND tokens for sale to the general public during this time.

The Sandbox Games intends to use the funds obtained from the ICO to expand their team and continue game development. They also intend to utilize a portion of the proceeds to create a marketing campaign to promote their games.

Read more: IDO Vs ICO Vs IEO: What Is An IDO In Crypto And How To Invest It 2022?

Prospect Of SAND

In the context of software development, especially Web development and revision control, a sandbox is a testing environment that isolates untested code modifications and blatant experimentation from the production environment or repository.

A security method for segregating active applications, typically for security reasons, is also referred to as a “sandbox.” It is frequently used to run untested code or unreliable programs from suppliers, unreliable customers, and unreliable websites.

FAQs

FAQs

How to earn SAND tokens?

Users must buy the SAND token from Binance or other exchanges in order to use it in The Sandbox game. Additionally, users can get the token by participating in the game’s competitions, receiving airdrops, or joining The Sandbox Ambassador program.

Should you invest in The Sandbox?

The Sandbox’s valuation rose 11,600% last year. Metaverse interest could boost its value. Decentraland and Enjin compete with The Sandbox, but Atari, Snoop Dogg, and Adidas could give it an edge. Kingsway Capital, Galaxy Interactive, and Polygon Studios invested.

The Sandbox metaverse is an expansion of the mobile game. This metaverse’s success depends on the gaming community and Ethereum, its digital money.

The Sandbox requires new players to grow in value. The Sandbox is a cryptocurrency-based investment in the unpredictable game sector, thus it’s dangerous. The SAND token is exclusively usable in-game, limiting its use.

Is investing in SAND risky?

The current risk score for SAND indicates that it is a relatively low risk investment. This score will be most helpful to investors whose main concern is risk assessment in order to steer clear of (or possibly seek out) risky investments. SAND is currently trading at $1.34, down 1.75 percent from where it was a day ago.

The popularity of The Sandbox has a direct impact on the success of SAND, and that popularity is expected to increase if The Sandbox continues to grow in stature among gamers. More games may adopt cryptocurrency as their in-game currency if The Sandbox is successful.

Is it the right time to buy SAND?

SAND has undoubtedly done well over the last 12 months; in fact, its price has increased significantly. However, you still need to exercise caution. Prices for cryptocurrencies might undoubtedly go up as well as down because they are so unpredictable. Do your own homework before investing, and never risk more than you can afford to lose.

What can I buy with SAND?

Consider buying its cryptocurrency token, SAND, which can be used to hold virtual property, contribute to platform governance, and buy virtual goods in its metaverse.

How is The Sandbox different from other blockchain projects?

A special blockchain initiative called The Sandbox enables people to produce, play, and profit from their own games and content in metaverse. Because the project uses the Ethereum blockchain to power its virtual world, it differs from other blockchain initiatives. SAND, the native currency of The Sandbox, is also utilized for in-game transactions and the purchase of assets.

Read more: TOP 15 Best Metaverse Coins To Trade & HODL In 2022: A Full Guidance For Crypto Beginners

Can I convert The Sandbox coins to other currencies?

You can get The Sandbox in exchange for your money. This can be done by simply entering the desired purchase amount and pressing the buy button on more user-friendly exchanges.

How can I find more information about The Sandbox?

You can find more information about The Sandbox by contacting the company directly or visiting their website.

Conclusion

I have therefore given you the most recent data from the Sandbox and SAND Token. When it comes to blockchain virtual reality systems, SAND is quite distinctive. What do you believe will happen to the Sandbox in the future? Comment below and talk with Covermarkets about it.

Disclaimer: The information provided in this article is not investment advice from Cove Markets. Cryptocurrency investment activities are yet to be recognized and protected by the laws in some countries. Cryptocurrencies always contain financial risks.

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