What Is The Sandbox (SAND) How It Works & Where To Buy It?

The Sandbox is a virtual reality platform built on the Ethereum blockchain. The project allows users to sell in-game items using the native token, SAND.

A prolific list of investors including Animoca Brands have supported The Sandbox project through funding and development.

As the metaverse project’s leading investor, Animoca Brands raised $700 million in total capital. Other notable investors include George Soros and the Winklevoss Twins.

 

How The Sandbox (SAND) Works

The Sandbox metaverse is an innovative virtual reality where players can create and mint NFTs (non-fungible tokens) that can be sold on the Sandbox marketplace.

The creation of items is facilitated through the VoxEdit tool. The Sandbox team envisioned a game that would allow users to have ownership of in-game assets, unlike traditional games where no unique ownership of in-game assets is present.

Additionally, players can create game experiences without needing any coding knowledge. The advancements of this project highlight the infinite potential to create micro-economies for virtual assets, which have been previously unchartered territory.

Users can create unique items in the Sandbox game, customizing Lego-like virtual items and creating multiple copies of assets – provably unique through minted NFTs on the Ethereum blockchain. This bolsters the trade of user-owned virtual assets according to rarity and other specialized attributes.

GEMs and CATALYSTs are the two tokens related to ASSETs. After the creation of ASSETs, GEMs and CATALYSTs users can use the VoxEdit tool for the final refinement of their creation.

Additionally, the SAND token is frequently traded on exchanges by traders looking to lock in profits – cryptocurrencies’ price volatility makes them favorable to trade.

The SAND cryptocurrency has fast grown to become the 3rd largest metaverse token in the world by market cap.

 

What Is The Sandbox (SAND) Used For?

The games market generated a revenue of $180 billion in 2021 – a market virtually unexplored by blockchain gaming.

The traditional gaming sector has accrued a phenomenal amount of retail investment, and there are billions of gamers worldwide.

The novel play-to-earn mechanism has disrupted traditional gaming as we know it, creating innovative avenues for gamers to earn money while doing what they love.

Essentially, there are three major parts in The Sandbox metaverse – LAND, ASSETs, and the Sandbox marketplace. Users can purchase virtual LAND and they can generate revenue by selling ASSETs on the Sandbox marketplace.

SAND is the utility token of the game. It acts as a governance token, whereby holders can vote on proposals by utilizing the Sandbox DAO.

Trading uniquely-owned digital assets makes playing the game both fun and financially appealing. Plus, the Sandbox ecosystem is flourishing, constantly attracting more users to the Sandbox project and Sandbox’s marketplace.

Users can play games, create basic games with the built-in game maker, and earn SAND tokens in the process too.

 

Where To Buy SAND Tokens

The Sandbox (SAND) has recently risen in popularity and its trading volumes on exchanges have seen a significant surge in the past few months. SAND has quickly grown to become a well-known metaverse-based cryptocurrency. It is also the 41st largest cryptocurrency in the world by market capitalization.

SAND tokens are commonly available and frequently traded on most centralized crypto exchanges. Before you’re able to purchase SAND, you’ll need to deposit fiat money onto an exchange, and sequentially SAND tokens will be credited to your SAND digital wallet on the exchange.

The crypto exchanges below are the safest place where you can buy, sell and store SAND tokens.

• Kraken
• Coinbase
• KuCoin
• HTX
• BitHumb

All of the above exchanges allow users to buy, sell, transfer and store SAND tokens in a digital wallet on the exchange. You can use your debit or credit card to purchase SAND tokens on centralized exchanges.

 

FAQs About The Sandbox (SAND)

How long has The Sandbox (SAND) existed?

The Sandbox was initially launched on the 15th of May 2012. However, it was released on the iOS and Android mobile gaming platforms by PixOwl.

It started as a game on a mobile gaming platform but later went on to be released on PC on Steam in 2015.

Later on in 2018, the brand was acquired by Animoca Brands who transitioned The Sandbox into a 3D blockchain game.

What’s controversial about Decentraland (MANA)?

Since the crypto market is fast-growing, it can be hard to know what companies to trust. That’s why before investing, it’s always a good idea to do your research into the project, its history, tokenomics, team, and partnerships.

And as with any expanding market, there can be controversies. So, let’s take a look at the top two controversies surrounding Decentraland (MANA) below.

• No user interactions – Decentraland has quickly become one of the most popular metaverse projects, attracting hundreds of thousands of new users. But, without soliciting investment advice – why are people purchasing land in a metaverse where users can’t interact with each other?

  The recent rise in the number of metaverses being released has made it evident that user interaction is a top priority for people wanting to get into the metaverse. Metaverses like Bloktopia, are offering a much more enthralling experience to users.

• The terrain is all the same – When designing a metaverse, there are endless options available – it could be in a jungle setting with nuances of living in paradise, it could be a futuristic landscape. The scope is massive.

  However, Decentraland has the same terrain throughout the entire metaverse. Many people have added that this is slightly boring and could be more imaginative.

How many The Sandbox (SAND) tokens are there?

At the time of writing, SAND has a circulating supply of 1.16B SAND (39% of total supply), and the total supply of SAND is 3B.

Can The Sandbox (SAND) be mined?

SAND is not a mineable cryptocurrency. Individuals mainly earn revenue from trading SAND tokens. Individuals can also maximize their profits by trading their assets and land on the Sandbox marketplace.

Some centralized exchanges like Binance also offer rewards for SAND holders that lock up their tokens for a certain duration.

What is the market cap of The Sandbox (SAND)?

To work out the market cap of The Sandbox (SAND), the total amount of coins in circulation is then multiplied by the current market price of SAND.

The Sandbox (SAND) Market Cap = 1.16 billion SAND x $2,79 = $3,23 billion (41st largest market cap).

It is currently one of the top 50 cryptocurrencies by market capitalization and continues to grow in popularity as the metaverse project attracts more investment and users.

The market cap fluctuates according to circulating supply and market price.

 

Biggest Competitors Of The Sandbox (SAND)

There is a substantial amount of innovative metaverse projects continually entering the crypto space. The projects are garnering immense amounts of attention but there’s a distinct need for differentiation.

Here are the 5 biggest metaverse projects currently:

• ApeCoin ($APE)
• Decentraland ($MANA)
• The Sandbox ($SAND)
• Axie Infinity ($AXS)
• Illuvium ($ILV)

SAND’s market cap is higher than most of the other projects besides Decentraland and ApeCoin (APE) which are currently the two largest metaverse cryptocurrencies in the world by market cap.

 

What Are The Future Plans For The Sandbox (SAND)

The Sandbox metaverse has seen a significant increase in popularity over the past year, and influential figures like Snoop Dogg and Steve Aoki have purchased virtual land in the metaverse.

The SAND token transaction volume surged to an all-time high in November 2021 when the SAND token reached its peak of $8,40.

Playing games continues to grow in popularity and blockchain gaming has started to gain traction now, metaverse projects and play-to-earn games have a bright future ahead of them.

The Sandbox has announced its intention to continue user adoption and add value proponents that will attract users to its metaverse, drive user adoption and sequentially increase SAND’s trading volumes on exchanges.

 

Pros And Cons Of The Sandbox And SAND Token

Pros:

• Uniquely-owned virtual land – Individuals can purchase land in the Sandbox metaverse – pieces of land are NFTs. These NFTs can then be re-sold for a higher amount than they were bought for. This makes using The Sandbox a profitable and fun way to interact with the metaverse.
• Influential figures are buying land – The Sandbox has attracted some influential figures – as mentioned, superstars Snoop Dogg and Steve Aoki have already purchased land in the sandbox metaverse.
• SAND is the 3rd largest metaverse token – Although there has been a surge in the number of metaverse projects entering the space, SAND has managed to cement itself as one of the most popular and credible metaverse cryptocurrencies in the world.
• VoxEdit and Game Maker Tools – The in-game tools that facilitate the creation of assets and other innovative features, make The Sandbox more unique than many other metaverse projects.

Cons:

• The SAND tokens utility is questionable – SAND is the native token used in the Sandbox metaverse – this makes its use very limited. It is essentially only of use to gamers and game developers. Therefore, if there were to be a significant decline in the number of users in The Sandbox, the token’s price would likely plummet.