Blockchain games and metaverse have been two big trends in the world of cryptoactives in recent months.
Today we are going to evaluate a project that has some interesting differences, and that could be a perfect storm: a
mix of games, social networks and NFTs.
That's what The Sandbox is supposed to be. A virtual world where users can move, build and monetize their experiences in a mix of games and social networks. All this is possible thanks to Ethereum's blockchain, which is used as a cost-effective infrastructure.
WHAT IS THE SANDBOX?
Launched by Pixowl, The Sandbox is a blockchain-based virtual world that allows users to create, build, buy and sell digital assets in the form of a game.
The main objective of The Sandbox is to be an environment for creation and interaction in the digital world, but it brings a crucial aspect in its differentiation as a game: to allow users to build virtual worlds and ecosystems using scarce assets, providing creators with true ownership of the items.
Players can purchase virtual spaces, create whatever they want in them and even monetize their creations.
FOUNDERS AND TEAM
Founders and team Arthur Madrid is co-founder and CEO of Pixowl. He graduated in economics from the Université de Paris and in 2001 founded 1-Click Media, which was later bought by Ipercast.
Sebastien Borget is also a co-founder of Pixowl and serves as the company's COO.
He graduated in computer systems networking and telecommunications from the Institut National des Télécommunications in 2007. His professional career began as a project leader at 1-Click Media. They founded Pixowl in 2011.
TOKEN $SAND
It is the ERC-20 utility token used across The Sandbox ecosystem by gamers, developers and publishers.
TOKEN UTILITY
As the game's native currency, $SAND serves as a utility token that allows players to buy and sell virtual land and assets in The Sandbox metaverse.
It is the foundation of transactions and interactions. In addition, with $SAND it is also possible to:
Governance - allows holders to participate in governance decisions. Token owners can vote for themselves or delegate voting rights to other players of their choice.
Staking - Users can stake tokens to earn rewards.
In addition to $SAND, the main utility token, there are other assets as well. Are they:
LAND - are ERC-721 tokens that represent game lands. There are only 166,464 LANDs available. Players can use them to host games, organize events or provide social experiences for the community.
ASSET - tokens in ERC-1155 format, which are created by the users themselves, such as avatars, animals, buildings, etc.
GEMS - Tokens needed to create ASSETs.
There is a maximum and total supply of 3,000,000,000 $SAND tokens. Currently, around 913,364,619 tokens are in circulation, representing 30% of the total available supply.
At its foundation, the allocation of tokens was done as follows:
Currently, 96.30% of tokens are concentrated among the top 100 portfolios.
Current price: $5.90
Market capitalization: $5,394 billion
Volume in the last 24 hours: US$ 4,573 million
Historic high: $8.40
Performance in the last three months: + 800%
Tools
The Sandbox ecosystem provides three integrated products for content production, they are:
VoxEdit - software to create assets that can become Non-Fungible Tokens (NFTs) and be imported into the Marketplace.
Marketplace - a decentralized marketplace for trading assets created in VoxEdit.
Game Maker - a toolbox that allows anyone to build 3D games
ADVANTAGE OVER COMPETITORS
The Sandbox, in addition to allowing the sale of lands, also provides tools for the customization of these spaces. For example, it is possible to create games, virtual stores, where it is possible to sell NFTs.
This provides a certain advantage due to the large number of tools available and the flexibility of creation.
According to data from DappRadar, in recent weeks The Sandbox alone has attracted more than $86 million in land sales.
Decentraland was second, with more than $15 million traded.
In the last 30 days, more than 4,000 users have passed through The Sandbox platform. 5.96,000 transactions were carried out and US$ 3.16 million were handled. An expressive growth, resulting from the recent increase in the popularity of the metaverses.
Of the top ten NFT sales in November, four are linked to virtual land.
The biggest sale was of land in Decentraland, for $2.42 million, followed by another for $1.08 million.
At The Sandbox, two lots were sold for over $600,000 each.
Large companies have acquired land in The Sandbox. It is the case from Atari, Coinmarketcap, Binance, The Walking Dead, Snoopg Dog, among others.
The last company to join the game was Adidas, which bought a beautiful piece of land almost in the middle of the map!
However, the big issue that impacts not only The Sandbox, but practically all Daaps built on Ethereum is scalability, which is limited due to very high rates.
This makes room for other competing blockchains, where it is already possible to see the increase in the ecosystem.
The rise in popularity of virtual worlds like The Sandbox and Decentraland started with the change of branding from Facebook to Meta and could consolidate in the coming years with more tools bringing new users to the metaverse.
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