This year has been revolutionary for the virtual space, with multiple technologies garnering global traction. However, while blockchain and crypto have been brewing quite a buzz already, the year witnessed another viable contender’s emergence – NFTs.
Thanks to capable ventures like the Sandbox, NFTs have breached multiple mainstream sectors, including gaming. The Sandbox, a Hong Kong-based gaming firm, is a popular title under the belt of Animoca Brands.
Known as the Minecraft of blockchain gaming, The Sandbox allows players to build, monetize, and own virtual gaming assets on Ethereum. The venture amassed 93 million dollars recently to elevate its brand value. It even joined hands with Snoop Dogg, who plans to create a virtual replica of his mansion in the game.
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With blockchain gaming and NFTs on the rise, titles like The Sandbox are potent enough to rule the market. Yet, despite such potential, many still fail to understand the game and its value proposition.
What Is Sandbox and Its Vision?
As already stated, The Sandbox is a community-driven decentralized virtual space where users can share, design, and trade in-game assets. The game is among the few trying to promote blockchain-based digital worlds and not riding the success wave only.
Sandbox Ecosystem, Game, and the Sandbox Tokenomics
The Sandbox metaverse adopts a community-driven approach, helping users generate income and market value. It allows players to upload assets on the IPFS (InterPlanetary File System), sold in its marketplace. Using VoxEdit, the game allows players to animate and build 3D objects in the ecosystem. These can be tools, animals, and even people called ASSETS.
The game associated the ASSETS with an ERC-1155 token, allowing fungible and non-fungible tokens’ minting with a smart contract. On top of that, players can access The Sandbox Game Maker for free. Besides the gaming aspects, the venture has also released a native ERC-20 token named SAND. Players can use the token to play the game, buy equipment or land, and customize their avatar. The venture will only release 3,000,000,000 SAND tokens while it pays gas fees to Ethereum for players.
Additionally, it allows 50% of the token transaction volume to support the platform.
What Is Metaverse and The Sandbox’s Future in It?
Simply defined, a Metaverse is a shared virtual space where different projects can interact. With blockchain gaming quickly becoming the Meta among game developers, popular titles like The Sandbox will stand as a market leader. Besides the standard NFT creation and trading functionalities, The Sandbox is garnering traction for its value proposition. Players can own a stake and earn voting rights in the project via SAND. In addition, it allows them to have a say in the game’s development and future operations.
The game also allows players to own a LAND in the Metaverse, which they can rent or populate for revenue. Moreover, its Game Maker renders free 3D game development functionalities, allowing users to prepare games without coding. The games can be integrated within LAND for prompt monetization. The Sandbox will become a one-stop station for blockchain-based games, Metaverse, and content creation with time.