- A metaverse based crypto project focused on gaming
- It has a native marketplace
- Users can create games without knowing coding using its ecosystem
- There are many ways for users to monetize the in-game assets they create
- The SAND coin has been bullish post Facebook’s renaming move
- The Sandbox has achieved a number of coveted alliances.
- Faces steep competition from Meta and the Decentraland
- Most of the coins are held by the core team and investors, which defies the decentralization concept
The renaming of the company owing Facebook to Meta Platforms Inc. came as an unexpected surprise to millions of users. The company also started setting up a metaverse. The idea behind the metaverse is not drastically new, though. Videos games built around virtual worlds such as Second Life were created back in the early 2000s. However, until recently, the concept was not embraced by millions of web users. The metaverse games somehow got intertwined with cryptocurrency ecosystems in a way very few had anticipated. The top contender among these projects is The Sandbox- a virtual world based on Ethereum that deals with user-created, traded-in, and owned game items.
The basics and history of Sandbox
The Sandbox is Ethereum network-based gaming ecosystem. SAND is an ERC-20 token and serves as the native asset of the virtual economy of The Sandbox. The total supply of SAND will be capped at 3 billion. While the project is said to be decentralized, a major chunk of the supply is allocated it the core team, investors, and company. This is somewhat contrary to the core concept of decentralized Blockchain systems. SAND can be used for twin purposes- you can stake it and get interested and buy in-game items.
The game is made with editing software developed by the Sandbox team. Using the software, users can make 3D items like vehicles, creatures, costumes, buildings, and more. These are then added to the Blockchain system as NFTs. The Sandbox game can be played on a huge map labeled LAND. LANDs can be merged together and then estates and districts are formed. There are many ways to monetize. You can, for example, hold events and games and set up an entry fee for these. The play-to-earn model is akin to what you get in Axie Infinity metaverse.
The project runs on Unity software. Apart from enabling users to play and create in-game assets, this platform lets them interact. The team behind the project says in the long run SAND will serve the purpose of a governance token. It will deploy a decentralized autonomous organization within 2023. After this is in place, SAND holders will get voting rights and have a say in the future of the ecosystem as well as the game. However, it is likely that the core team and investors will still possess a majority of the tokens. It remains to be seen if a chunk of the supply is sold to the public.
The Sandbox coin and project were developed by a San Francisco-based gaming studio called Pixowl in 2011. Its co-founders were entrepreneurs Sebastien Borget and Arthur Madrid. In 2018, Pixowl was acquired by Animoca Brands- a venture capital fund based in Hong Kong.
The developments so far
While all crypto coins get affected by upheavals in the sector, Sandbox’s fortunes changed after the Facebook renaming announcement took place. SANDs price took a surge upwards after the move by Facebook. While this is logical and good for the project, the reality is Facebook is set to launch what can become the biggest rival of the Sandbox project. It also faces rivalry from Decentraland. They both are metaverse games developed around a cryptocurrency, powered by an NFT-based economy. The USP of the Sandbox, however, is its innovative 3D editing software. Decentraland is not so detailed.
The Sandbox has attracted the attention of a lot of crypto investors and a section of gamers, which is natural. It has also attracted the attention of potential investors. Some examples are Atari, Samsung Next, and Snoop Dogg. Now, you can buy the SAND token (ERC-20) at the top cryptocurrency exchanges.
Why it is ahead of other Metaverse linked tokens?
Now, several metaverse-based crypto projects are popping up but the Sandbox enjoys an edge over the majority of these. The Sandbox metaverse offers the users and players much more flexibility and freedom than other games based on the metaverse model. Using the platform, you find access to a virtual world that is not there in competing for metaverse games. Sandbox also gains owing to its native marketplace. The Sandbox Game Maker is another feature that serves as icing on the cake.
Summing it up
The Sandbox is an interesting crypto project based on a game that comes with creativity and monetization options- presented as a 3-dimensional ecosystem called a metaverse. Its native token SAND has been going bullish in recent times and experts predict solid growth trends in 2022. The platform is promising and the role of users in it is important. The Blockchain powered virtual gaming ecosystem gives the users plenty of flexibility and monetizing options. It also has tied up with some technology bigwigs and icons. While the competition from a few big rivals can pose hurdles, experts think there is no stopping the growth of Sandbox anytime soon.