SAND is a viable gaming platform token for Sandbox game content providers and players. It’s an ERC-20 token, which means it operates on the Ethereum network.
Despite its resemblance to conventional in-game cash, SAND cryptocurrency serves many purposes:
- SAND holders have the ability to vote on critical platform choices.
- Tokens are necessary for the usage of creative tools, as well as the purchase of items, places, and other content.
- Token holders may stake their tokens in the Sandbox pool and get a fee share as a reward.
- SAND tokens are also needed to play in places made by other players and to utilize stuff generated by other writers.
The currency may be acquired using stable coins and other well-known cryptocurrencies on a genuine exchange.
In fact, it is the core of the Sandbox economic model, since it connects the production, sharing, and gameplay experiences. Developers and regular gamers may earn money doing what they love using the SAND token.
Because SAND is ERC-20 tokens that are the native coinage of the gaming platform, their transfer value is lower than that of payment systems, and typical mining processes do not operate.
There is no information on fresh tokens being mined. This implies Sandbox pre-mined a total of 3 billion native tokens and distributed them according to the following scheme:
Only roughly 675 million tokens (or 22% of the entire supply) are in circulation right now. With the exception of coins kept for personal use, the team seems to be issuing fresh SANDs to the market as demand develops.
Ordinary users, on the other hand, have two options: either mine or acquire a large number of SANDs:
- Content Creation: LAND and ASSET NFTs may be traded for native SAND tokens on the network. SAND may also be obtained by renting a plot and by interacting with other players while playing your game.
- Staking: Users may simply freeze their tokens to increase liquidity on the network and get a return. For staking, MetaMask or Trust Wallet wallets may be used.
- SAND Tokens: Staking, on the other hand, does not result in the creation of fresh SAND tokens. As a reward, stakers earn a portion of the transaction fee – Sandbox takes 5% of the total value of transactions, with half of the commission going to the Sandbox fund and the other half going to stakes. As a result, staking profitability is directly proportional to the number of transactions, i.e. the popularity of the Sandbox.
SAND Price Prediction:
The SAND token is now selling at $0.21, which is 10 cents down from its peak pricing in mid-February but $15 cents higher than the post-IEO price. The coin has a significant correlation with the broader market trend:
Because the project has officially launched the sale of LAND tokens, we can presumably anticipate SAND to increase in the near future.
This implies that game producers may acquire game plots to create and market their own content, and since the sale and leasing of LAND, as well as the providing of gaming experience, are all done using SAND tokens, their value may rise.
In 2021, multiplayer will be added, transforming SandBox into a full-fledged MMO and diversifying the gaming experience, perhaps increasing demand for SAND.
In general, the price of this currency will be determined by the roadmap’s execution and the perceived worth of SandBox among gamers and game creators. It’s impossible to make a short-term or medium-term projection for SAND, much alone a long-term one that will almost certainly be linked to the broader market trend.
Is Investing in the Sandbox a Good Idea?
For some investors, the Sandbox has proven to be a terrific investment. If you had purchased it in January 2021, you would have made a profit of nearly 10,000%.
However, like other altcoins, it is a very dangerous investment. The price of SAND will most likely fall over time if the game fails to attract players and investors.
It’s tough to say whether The Sandbox will be a significant player in metaverse gaming in a year, but it’s a safer bet than some of its smaller rivals.
Where to get The Sandbox?
Because the Sandbox is a popular token, it can be found on a number of notable cryptocurrency exchanges. FTX and Gemini are two of the top trading platforms that offer the token. You must first authenticate your identification with the exchange before you can begin trading.
Each exchange’s procedure varies but must ask you to supply your address, Social Security number, and a photo of a valid ID (such as a driver’s license). The exchanges listed above accept ACH deposits, so after you’ve been authenticated, you may connect your bank account and begin trading right away.
If you aren’t intending on trading with the exchange in the near future, it’s usually a smart idea to shift your cryptos to a personal wallet for safekeeping.
SandBox is a fantastic startup that shows that blockchain uses aren’t only for the financial industry or supply chains. It’s a hybrid of an MMO and a game content marketplace like Steem, where users may not only trade goods, objects, and places, but also develop their own.
The platform designates areas of the game space and game objects using ERC-721 and ERC-1155 NFTs, ensuring the creator’s copyright protection. The most valuable asset, however, is SAND, an ERC-20 token that connects items, places, gaming experiences, and gamers.
On SandBox, the only way to share content is to utilize SAND.
The platform and the SAND token, on the other hand, are largely geared for gamers. The platform does not yet have all of the promised features, and the SAND ecosystem is limited to only the platform and one exchange.
SandBox, on the other hand, should be of interest to investors searching for a prospective company since it was founded via IEO and is still extremely young.