|Image Source: Medium|
The announcement of Facebook’s rebranding as Meta has given crypto metaverse initiatives a massive benefit. One project in particular sticks out amongst the others. In this article, I’ll discuss the Sandbox Crypto Metaverse as well as the SAND cryptocurrency.
It is all ready to enter the shared experience Gaming Industry and challenge the leaders, Microsoft and Roblox, due to its Ethereum blockchain foundation.
After that, it’s time to dive right in and start to explore the Sandbox crypto metaverse. I will start with-
What is Sandbox?
Sandbox is a Decentralised gaming metaverse based on the Ethereum blockchain, where users may play, earn, and own digital assets using its native currency, sand. The company is relatively new, having been created in 2012 by two founders, Sebastien Borget and Arthur Madrid.
They founded Pixowl, which was acquired by Animoca Brands in 2018, a Hong Kong-based business that brought Sandbox to the cryptocurrency market.
Before it was accepted into the crypto-metaverse. Sandbox Evolution, a popular game that can be downloaded for Android and iOS devices, is a popular game.
What is a Sand coin?
Sand is the Sandbox ecosystem’s native token. It is an ERC 20 token that players can use to buy in-game products and digital assets like land.
|Image Source: YouTube|
Apart from that, it features a very detailed use case, which includes the following:
Sand isn’t the only cryptocurrency in the Sandbox ecosystem. Other ERC 20 tokens, as well as ERC 721 and ERC1155 tokens, are available. See the image below.
|Image Source: YouTube|
As you can see, there are various Gems and Catalyst, which are ERC 20 tokens that are unique items that can be used in-game and have a good market value. These ERC 20 tokens, such as Gems and Catalyst, may only be purchased or earned by staking sand tokens in liquidity pools.
Apart from that, ERC 721 and ERC 1155 tokens, such as lands and assets, are ordinary NFT tokens. Don’t be puzzled now. To play the Sandbox game, you don’t have to buy every token.
All you need is a simple sand token that has a supply of 3 billion tokens, which is more than enough for one gamer to play.
Sandbox offers a unique ecosystem that allows gamers to not only play games but also create, which is fantastic. Users with no prior coding skills can construct a game using the simple drag and drop functionality, and I can create my own NFT within the Sandbox ecosystem by using its ecosystem features. These features are:
- Game Maker
1. Voxedit: Voxedit is a fantastic feature that allows you to animate and design 3D things ranging from humans to animals to tools and anything else you can think of for use as an in-game item or sell on the Sandbox marketplace.
To my understanding, it has proven to be a reliable tool for earning passive income through the sale of NFTs. You may use Voxedit to build 3D things and sell them as NFT on the Sandbox marketplace, with no coding necessary.
2. Game Maker: Now apart from Voxedit, Game Maker is a brilliant feature of Sandbox ecosystem. Game Maker allows you to use no coding to develop and create your own game within the Sandbox ecosystem.
Within the Sandbox ecosystem, there is a drag-and-drop method that can be used to create a 3D game that can be played by players. If more users join the game and play your games, you will have a fantastic possibility to make passive income as a creator.
It’s similar to a page builder tool that can be used on a website without requiring any coding knowledge. Simply drag and drop to create a page that looks better than normal code. That’s an excellent example.
3. Marketplace: The Sandbox ecosystem’s marketplace is the final feature. So, if a Metaverse is to exist in the long run, it needs to have its own marketplace. It is nearly hard to trade digital assets or purchase in-game stuff without Marketplace. That is why each and every metaverse requires a marketplace.
Given that we’re discussing the Sandbox metaverse, it’s critical to put some light on the Sandbox LAND PARCELS. Within the Sandbox ecosystem, there are only 166,464 Land Parcels. Subcategories are created inside the land.
The first is standard, the second is your estate, and the third is your district. The standard size of a land parcel is 96 by 96 meters. When two or more contiguous lands are linked together to form an estate, it is referred to as an estate.
And the most important aspect is the district, which is made up of a collection of land that has been brought together and is next to one another to form a district. Of course, there are a few requirements that must be completed in order for the district to be founded.
How does Sandbox Make Money?
Since we’ve spent so much time talking about the sandbox metaverse, it’s important to understand how it makes money. Because it must generate a great income. If it wants to compete with, or even beat Minecraft or Roblox.
There is an image that shows how Sandbox makes money. As you can see, there is a Revenue Section, which helps Sandbox in generating revenue.
|Image Source: YouTube|
Land sales, premiums, NFTs, subscriptions, and services, as well as marketplace transaction costs, are all included. The corporation makes money by selling lands and Premium NFTs in the market and earning commissions.
When it comes to subscriptions and services, 25% of the sand tokens received from platform services will be passed on to the foundation to support the growth of the Sandbox ecosystem, and when it comes to marketplace transaction fees, 5% of all transactions on the network will be divided into two parts, with 50% of the sand tokens going to the staking pool as a reward for token holders and the remaining 50% going to the foundation to support the growth of the Sandbox ecosystem. So that’s how Sandbox makes money.
The Benefits of Sand token
1. True Ownership – The number one benefit is True Ownership. Sandbox, unlike Minecraft and Roblox, provides the user with complete control. That means he owns whatever he purchases in the metaverse, from land parcels to in-game stuff, and it belongs to him forever.
2. Source of Passive Income – Sandbox has developed itself as a primary source of passive income by allowing users to create or build NFTs using its tool, Voxedit, and then sell them on the Sandbox Marketplace or Open Sea Marketplace. Users can generate real money by selling the NFT on the marketplace ecosystem, either in Sand tokens or in Ether.
That is one of the things I love about the cryptocurrency industry. It gives everyone a fair amount of earning potential by allowing them to work from anywhere, at any time.
3. Store of Value – The third advantage is the ability to store value. Like a valuable asset that grows in value. Sandbox contains SAND tokens that will increase in value over time and are now surging in the market. That’s a brief overview of the advantages.
Drawbacks of Sandbox Crypto
1. The first drawback is Sandbox Ecosystem Architecture. As you can see in the image below, something like an AWS server (Amazon Web Server) is visible in the center. As a result, nothing is wrong with this image, but Sandbox is a decentralized environment that gives players true ownership.
|Image Source: Binance Research|
However, if you look at the architecture, you’ll notice that AWS makes everything entirely centralized. So, I’m hoping they’ll be able to modify it in the future.
2. Token Distribution: The company owns approximately 65 percent of the coin, making the token highly centralized once again. But I don’t think that will be a problem in the long run because every project starts with the firm owning the majority of the ownership.
3. There is one more drawback that could be a source of concern in the future, and that is strong competition. The two traditional players in this space are Minecraft and Roblox. Minecraft and Roblox are the industry leaders right now, and their pockets are full of cash. They can transition to a decentralized metaverse at any time and compete with Sandbox.
SAND Coin Price Prediction
If we put the Sandbox metaverse aside for a moment and focus solely on Metaverse, do you believe Metaverse has potential? If you answered yes, you can see where the Sandbox Sand token is going.
Sandbox not only provides a Metaverse but also allows users to build NFT and in-game objects, as well as create their own games that can be used by other players to earn or generate passive money.
It’s not just about the metaverse; it’s also about the Sandbox ecosystem, which is supported by the sand token. And, as you can see from the chart below when it comes to trading sand, the market is certainly optimistic.
According to the charts and market feelings, the price is currently consolidating at roughly $4 to $7, and in the near bull run, it won’t be long before it shoots up above the $10 level.
|Image Source: CoinGecko|
In terms of a price forecast, I’m going to say $15 or possibly more. However, this is dependent on a number of factors. What will Sandbox look like? The Alpha version is already available and gaining popularity. I’m a big fan of Sandbox and would like to hear your thoughts on it. So that concludes my Sandbox sand token review.
In the next post, I’ll discuss a new coin with a new conception and idea. Take care and have a good day until then.
Disclaimer: This is not a post that provides financial advice, and we do not encourage you to invest in any specific Cryptocurrency. This is just a simple instructional article. With this in mind, we strongly advise you to perform substantial broad-spectrum research on the issue before making any investment.