What is the Sandbox?
What exactly is the Sandbox? The Sandbox is a play-to-earn blockchain game that enables users to construct a virtual environment on the Ethereum blockchain using non-fungible tokens (NFTs). Players can earn NFTs by completing in-game tasks. The players can create their own avatars to use when navigating around the various games, locations, and hubs available on the platform. The game can be compared to a DeFi version of Minecraft that is played on the blockchain.
The Sandbox was first conceived of as a mobile gaming platform that would compete with Minecraft when it was released by Pixowl in 2011. More than 40 million people in every region of the world downloaded it when it became popular. However, in 2018, the company’s co-founders Arthur Madrid and Sebastien Borget decided to investigate the possibility of developing a 3D metaverse that runs on the blockchain.
They want to give people the ability to receive incentives for engaging in the ecosystem and own what they have created in the form of NFTs. The new Sandbox project was launched in 2020, and it quickly rose to prominence as one of the games with the greatest potential for expansion in the cryptocurrency industry, alongside Axie Infinity and Decentraland.
In November 2021, The Sandbox successfully solicited financing in the amount of $93 million from a group of investors led by the mobile industry behemoth SoftBank. Additionally, the game has garnered over fifty partnerships, some of which include well-known names in the gaming industry such as Snoop Dogg, CryptoKitties, and Atari, a well-known gaming firm.
Who owns the Sandbox?
Who owns the Sandbox? In 2011, Arthur Madrid and Sébastien Borget laid the groundwork for what would become the Sandbox. Animoca Brands, a Hong Kong-based firm that specializes in game software, owns this business and operates it as a subsidiary. Therefore, according to the strict definition, Animoca Brands is the owner of the Sandbox.
On the other hand, given that the Sandbox Metaverse is decentralized, it cannot be said that anyone “owns” it. The company claims that all of its revenue comes from gamers. The players are, in a sense, the true owners of the game.
In addition to this, it has received support from several prominent figures around the globe. To cite only a few examples: Adidas, Opera, Binance, the rapper Snoop Dogg, the television series “The Walking Dead” on AMC, and the children’s cartoons “Care Bears” and “The Smurfs.”
How does the Sandbox work?
How exactly does one use the Sandbox? The Sandbox program makes use of the Ethereum blockchain to keep a record of who owns the digital LAND and NFT ASSETS that are stored on its application. Wallets built on Ethereum, which users use to store their SAND tokens, are one more way for users to participate in the ecosystem.
The animations and interactions that users have on their virtual real estate can be designed by the developers using a variety of tools, and they are free to innovate within the framework that Sandbox provides for them.
Voxel Editor, often known as VoxEdit, is software that allows artists and players to easily construct, rig, and animate the voxel-based NFTs that they utilize in their games. Voxels are a type of 3D pixel that are square and resemble Lego blocks. They may be changed very rapidly with VoxEdit to generate a variety of different shapes.
For instance, users might develop avatar-oriented items such as clothing or weaponry, or they can design animals, vegetation, game tools, and other goods to use in the Sandbox. Users can even construct their goods. After that, these virtual items can be exported and dealt with on the Marketplace in the form of NFTs.
Users can construct and test their original 3D games within the Sandbox metaverse when using Game Maker. It’s a straightforward program that doesn’t call for any prior experience with coding to operate. In an environment known as LAND, users can construct and organize a variety of various features and objects, including the NFTs that were developed with VoxEdit.
They have the ability, for instance, to alter the terrain, position characters, and buildings, and compile quests using the community-developed resources library. They also have the option of sharing their creations with the Sandbox community.
Token varieties available in the Sandbox
In the sandbox ecosystem, there are four sorts of users: players, creators, curators, and landowners. Players make up the majority of the ecosystem. In addition, there are six different kinds of tokens available to use within The Sandbox Metaverse. SAND, ASSETS, LAND, and GAME are the four user-specific tokens that are typically utilized by these platforms to facilitate the development of a closed-loop economy among the users. In VoxEdit, the GEM and CATALYST tokens are the ones that are kept for use in the construction of assets.
The Sandbox makes use of an internal utility token known as SAND Token for all of its interactions and transactions that adhere to the ERC-20 standard. One can consider SAND to be the local currency or the Sandbox coin. The user can make use of the SAND token for governance, staking, foundation, accessing the platform, and the free capture model found in the Metaverse.
The ASSETS token is a representation of the virtual assets that can be found in the Sandbox metaverse. Users have the option of trading these tokens in the Market or employing them on land to generate more utility of their choosing.
Users can produce a wide variety of assets that can be monetized on the site through the use of VoxEdit. In addition, each player retains full ownership rights over any Assets they develop in the game and then exchange with other players.
In the Sandbox metaverse, a LAND Token serves as an essential component. Within the context of The Sandbox ecosystem, the LAND Token is often referred to as a virtual real estate investment. Within the Metaverse, users can purchase land and then construct estates and districts by combining various pieces of land that are next to one another.
For users to participate in the Sandbox, both the GAME token and the LAND token need to be in their possession at all times. Users are provided with an engaging experience when they make use of a GAME token, which is generated through the integration of game code and assets.
Within the ecosystem of the Sandbox, GEMS are utility tokens that increase the value of the attributes attached to Assets. It is also a burnt-on-usage token, which means that one GEM can offer 25 attribute points to an asset. This can prove to be rather useful and important throughout the course of the game.
CATALYST is another burnt-on-usage token that sets the tier and scarcity displayed for the user’s ASSET in The Sandbox metaverse. The user can add an empty socket to their asset, which they will then be able to fill with GEM properties with the assistance of the CATALYST Token.
How to generate revenue in the Sandbox?
How can one make money while playing in the Sandbox? There are a few different avenues via which you might make money within the Sandbox. After constructing ASSETS with VoxEdit, you can upload them to the marketplace to be bought and sold as NFTs.
For instance, ASSETS like avatars, motorbikes, and animals can be purchased for anywhere from less than 10 SAND to thousands of SAND. The pricing for these items might vary greatly.
Similarly, you can make and sell your games with the Game Maker, or you can play other users’ games and earn prizes that way instead. You can generate money from your LAND in several different ways, including renting it out to other players or increasing its worth by filling it with content.
It is one of several crypto metaverses that are working to alter the power dynamic that exists between content developers, players, and gaming platforms. The Sandbox and its competitors are paving the way for a new gaming market in which players own the products of their creative labor and are rewarded for the substantial value that they generate for platform operators. This market will allow players to be rewarded for the substantial value that they generate for platform operators.
The Sandbox is one of the many new cryptocurrencies that have recently emerged in the world of cryptocurrency. It is rumored to be a profitable investment, and as a result, it is continuously drawing in new players and investors. In addition, taking into consideration how well Sandbox has performed historically in comparison to other assets could indicate that investing in it would be a wise decision.
The prices of cryptocurrencies are quite volatile; as a result, prices that are increasing today could fall by a significant amount the next day; therefore, prospective investors should exercise caution and conduct a thorough study before making any investments in cryptocurrencies. As a result, acquiring knowledge of Metaverse or receiving training in Metaverse to assist you in making more educated choices concerning it before investing is recommended.
The application of cryptocurrencies like Bitcoin and Ethereum in the gaming industry is at the forefront of an ongoing economic and digital revolution. We are a team of gaming product consultants here at Lunar Sky Games, and collectively we have more than 10 years of experience working in this sector. We collaborate closely with web3 firms to assist in the development and expansion of their product lines. Your ideas will become a reality with our assistance. Get in touch with us right away to schedule a consultation.