What is The Sandbox?
The Sandbox is a play-to-earn blockchain game that enables users to develop a virtual environment using non-fungible tokens (NFTs) on the Ethereum blockchain. Players can construct their avatars to access the numerous games, locations, and centers on The Sandbox metaverse, making it similar to the DeFi version of Minecraft on the blockchain. The Sandbox's native token is SAND, an ERC20 utility token that allows users to buy and sell LANDS and ASSETS in the metaverse. It also serves as the governance token of The Sandbox DAO.
The Sandbox was founded in 2012 by Arthur Madrid and Sébastien Borget, who still serve as the CEO and COO of the company, respectively. Initially, it was primarily on mobile platforms and gathered more than 40 million global installs on mobile devices. The goal of The Sandbox is to bring blockchain into mainstream gaming, by attracting both crypto and non-crypto game enthusiasts by offering the advantages of true ownership, digital scarcity, monetization capabilities, and interoperability.
The Sandbox has been working on creating a players and creators 100% Ownership Economy using NFTs and LANDS for the last 3 years. The project has raised $3.41 million in funding from strategic investors, including Hashed, Square Enix, and True Global Ventures. The team has already deployed numerous robust creative tools in beta.
In November 2021, The Sandbox raised $93 million in funding from investors led by the Japanese mobile giant SoftBank. The Sandbox has secured over 60 partnerships to develop content on the platform, including brands like Smurfs, Shaun the Sheep, DApp game studios like Dapper Labs (CryptoKitties), Square Enix (Final Fantasy, Tomb Raider), and iconic game companies like ATARI (Rollercoaster Tycoon, Pong).
The Sandbox platform is now entirely operated on Ethereum, which records token ownership and enables owners to transfer, sell, or use them freely. IPFS is used to store all ASSETS-related information, ensuring that the information can't change without the approval of the appropriate owners. The ERC20 standard is used for SAND, GEM, and CATALYST tokens, while the ERC1155 and ERC721 standards are used for LAND and ASSETS storage and trading.
The Sandbox supports its web interface with a standard backend operating on the cloud (currently AWS) blockchain integration. An S3 bucket stores the artist's assets before they are minted. The Sandbox now ensures the privacy of an artist's work, to prevent it from being duplicated before minting, but the team anticipates that future systems will prohibit even The Sandbox from accessing an artist's work before minting.
When a user-generated content (UGC) asset is minted, The Sandbox backend publishes the asset on IPFS, making it publicly tradeable. The Sandbox smart contract stores the hash of each asset, so the asset's owner can always show ownership of not just the number recorded on the blockchain, but the voxel model and numerous renderings.
The Sandbox is a dynamic virtual world filled with user-generated creations. Using VoxEdit and Game Maker, players can develop and create their own NFTs, such as avatars, virtual goods, and even games. They can not only utilize the virtual goods to interact with other players, but they can also monetize these NFTs by trading them on the Sandbox Marketplace.
The Sandbox's virtual world lets gamers use free design tools to develop and customize their games and digital assets. The virtual goods produced can subsequently be commercialized as NFTs and sold on The Sandbox Marketplace for SAND tokens. This allows players to not only enjoy the game but also earn real value from their creations.
SAND tokens are the foundation for all game transactions and interactions in The Sandbox. Users can participate in The Sandbox's games and competitions or purchase SAND on cryptocurrency exchanges. Furthermore, holders can stake SAND inside the game to gain benefits, including access to exclusive features, items, and experiences. Staking also allows players to vote on proposals and governance decisions within The Sandbox DAO.
The Sandbox also has a unique feature called "The Sandbox Evolution," which is a metaverse-wide game that allows players to collect, trade, and use LAND and ASSETS to create and monetize games and experiences. This feature adds an extra layer of gameplay and engagement for players, as well as providing opportunities for players to earn passive income from their creations.
In conclusion, The Sandbox is a blockchain-based game that allows players to create, monetize, and trade their own virtual assets and experiences. Its use of NFTs and blockchain technology enables true ownership and scarcity of digital items, making it a unique and exciting addition to the gaming industry. The Sandbox's native token, SAND, serves as the foundation for all transactions and interactions within the game and also allows players to earn passive income through staking and trading. With its growing partnerships and user base, The Sandbox is a promising project in the blockchain gaming space.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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