What is The Sandbox(SAND) Crypto?

The Sandbox Crypto, created by Pixowl in 2011, is a virtual ecosystem open to users who are into gaming, creativity, and blockchain technology. This would make it possible for users to create, attend, and monetize both digital property and gaming experiences. With the support of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), Sandbox Crypto brings an experience of decentralized gaming beyond limits.

The Sandbox is primarily built on the Ethereum blockchain,and leverages its solid foundation for building the virtual world and all digital assets. In order to  enhance scalability and reduce transaction costs, The Sandbox integrated with the layer 2 scaling solution for Ethereum called Polygon. This merger brings the opportunity of transferring assets such as LAND and SAND from Ethereum to Polygon, which reduces costs and speeds up transactions.

Features of the Sandbox Crypto

Gaming Economy Decentralized:

The Sandbox allows users to create, own and trade virtual land, assets, and gaming experiences contained in it, thus promoting a user-centric economic model.

Play to Earn:

Users earn SAND tokens while being in the ecosystem of the platform by either playing a game, building some content, or trading stocks of NFTs.

Ownership via NFT

The platform gives access to LAND (virtual real estate NFTs) and ASSETS (in-game item NFTs) for secured, verifiable ownership of digital assets.

Community Driven Governance :

Sandbox Crypto implements the principles of DAO so that the user forms an entire decentralized governance system by being able to vote on key development decisions.

Interoperability:

This ensures smoother functioning of the platform with other blockchain-based platforms and wallets. The platform is built on the Ethereum blockchain.

What is SAND Token and what other tokens operate on the Sandbox Ecosystem?

The economy of The Sandbox ecosystem centers around the SAND token, an ERC-20 utility token used to conduct transactions and other types of interaction within the Sandbox ecosystem.

The is the utility token of The Sandbox ecosystem. It can be employed as follows:

• Buying and Selling of LAND and ASSETS in the Sandbox marketplace.

• Rewarding players and creators through the play-to-earn model.

• Voting and governance in the DAO.

LAND NFTs

LAND is a term that is defined as virtual plots of land within The Sandbox Metaverse. Purchasing, developing, or monetizing LAND will be possible by hosting games, building experiences, and leasing to others.

ASSETS NFTs.

These are 3D objects created by users which can be utilized in games or sold as an item in the marketplace.

What is the Sandbox Metaverse?

The Sandbox Metaverse is a decentralized virtual world built on the Ethereum blockchain that allows users to create, own, and monetize games and digital assets. It offers a community-based platform by combining blockchain technology, gaming, decentralized finance, and non-fungible tokens with its core.

The community is a key aspect of participatory user-generated content, enabling the user to create avatars, virtual worlds, and games; further spurring creativity and engagement. Users can also buy virtual real estate known as LAND, on which they can build and monetize. The play-to-earn model allows users to earn SAND token by engaging in activities that require playing with and generating content.

To enter the Sandbox Metaverse, users must have a cryptocurrency wallet, buy SAND, and engage in activities like buying a piece of LAND, creating some content, or interacting with others.

Where to Buy SAND Tokens:

Buy SAND tokens through platforms like Coinbase (for bank accounts, debit cards), Binance (for USD through Google/Apple Pay), MoonPay (credit/debit cards), and Kraken (ACH deposits or Apple/Google Pay) for this trusted exchange to obtain SAND to engage in The Sandbox Metaverse.

Steps to Buy SAND:

Select a Platform: Pick an exchange that supports SAND.

Make an Account: Register and verify your identity.

Deposit Money: Fund your account using your preferred method.

Purchase SAND: Search for SAND and confirm purchase.

Secure Your Tokens: Transfer SAND to a personal crypto wallet.

Best Wallets to Store SAND tokens

 Top Wallets supported in The Sandbox include:

MetaMask

Type: Web3 Wallet 

Features: Enables the user to borrow and lend Ethereum as well as Polygon, extension browser add-on for using this on iOS devices, Android, and desktop.

Suitable for: Users having experience from moderate to more extensive.

Coinbase Wallet

Type: Web3 Wallet 

Features: Link with the exchange Coinbase Cryptocurrency, the support is only Ethereum.

Most Suitable For: Users who know a thing or two when it comes to crypto trading but are not that keen on staking.

Venly Wallet (earlier Arkane)

Type: Multi-blockchain Wallet 

Characteristics: Quick to set up, has Ethereum and Polygon, allows to sign in via different social networks.

Most Suitable For: A novice in blockchain gaming and cryptocurrency. 

These wallets will fulfill entirely smooth operations within The Sandbox Metaverse storage and SAND tokens or digital item transfers.

SAND (Sandbox) Tokenomics and Coin History?

The Sandbox (SAND) cryptocurrency was embedded within the overall vision of the platform on creating a decentralized metaverse for gaming, NFTs, and user-generated content. The introduction of the token was after going through a Seed Round in Q4 2019, where it managed to raise $3.41 million with an initiation price for a token at $0.0036 with investments from such firms as Hashed and Blocore. After this was a Strategic Sale within Q1 2020 where a further $60000 was raised at a selling price of $0.005 and Animoca Brand itself was the major investor.

The public launch occurred on August 14, 2020, via Binance Launchpad, with a token price of $0.008333. A total of 360 million tokens (12% of the supply) were distributed without any lockup, raising $3 million. Following its listing at $0.08, early investors enjoyed an ROI of as high as 79.28x by the year 2024.

Major investments in funding rounds include $93m raised in Series B (Q4 2021) from companies such as Samsung NEXT and Galaxy Interactive. In June 2024, the Private Funding Round got completed, adding another $20 million and putting the valuation of The Sandbox at $1 billion. The planned launch and continued investor support sets SAND firmly into the foundations of the metaverse and blockchain gaming ecosystem.

As of 2024, the SAND token of the sandbox marks its all-time low on November 4, 2020 at $0.02898. It recorded its all-time-high price of $8.40 on November 25, 2021. Its market cap currently amounts to 1.6 billion dollars, with a total supply of 3 billion SAND and a circulating supply of 2.4 billion SAND.

How Does Sandbox Cryptocurrency Work?

The Sandbox functioned using SAND as its cryptocurrency to accomplish several in-game transactions within a decentralized virtual game environment via blockchain technology. The Sandbox was created on the Ethereum blockchain having SAND tokens acting as a medium for in-game transactions i.e., buying NFTs, virtual land (LAND), and other types of digital assets in the online environment.

Key features:

Decentralized Governance: SAND holders will take part in decision-making via DAO within the platform, influencing policies, awarding grants, and finally influencing the roadmap.

Earning SAND: Players are able to earn SAND tokens through creative contributions, such as building virtual assets and games, and attracting users to the ecosystem.

NFT Integration: The platform generates representations of in-game assets and virtual land in NFTs, which will afford them security in ownership and tradeability.

The Sandbox game combines playing with decentralized finance and non-fungible tokens - a unique play-to-earn ecosystem.

Who are the founders of Sandbox Crypto and The Sandbox History?

Initial development of The Sandbox was done by the Pixowl company which Arthur Madrid and Sebastien Borget founded back in 2012 as a 2D mobile adventure. The game picked up a lot of speed, over 40 million downloads in April 2018.

In 2018, Animoca Brands acquired Pixowl for a transition to a 3D blockchain-based version of the metaverse called The Sandbox. Key historical milestones to be noted include:

2019: Deployment of SAND tokens on Ethereum, whose first pre-sales of LAND yielded 1,400 ETH.

2020: Launch of alpha perusal Game Maker and VoxEdit, with public beta in the works.

2021: Sandbox moved to Polygon for scalability and released closed alpha gameplay.

2022: Contracts and staking programs for LAND were initiated on Polygon.

2024: The Sandbox DAO came into existence, thereby empowering SAND and LAND holders to govern.