What Is The Sandbox (SAND) Crypto: Everything You Need to Know 2022

Gaming platform tokens are becoming more and more popular — people see them as an opportunity to earn money and a promising investment tool. One of the brightest NFT projects of 2021 was The Sandbox game with its native SAND token. What is SAND cryptocurrency all about? Today, we’ll try to find out!

What Is SAND Cryptocurrency: Basic Things to Know

Let’s start with the SAND crypto definition. The SAND token runs on the Ethereum blockchain and serves as the main asset of The Sandbox platform, where you can create and explore game universes. Until 2018, the game was an ordinary centralized project, but the developer Animoca Brands bought it to integrate blockchain technologies.

Many people compare The Sandbox with Minecraft, and indeed, they have similar voxel graphics and provide various in-game resources, such as sand, land, lava, water, glass. In both games, players complete various daily tasks, for example, producing materials or engaging in construction. In addition, it is possible to create your own worlds using an in-game constructor and upload them to the public gallery.

SAND’s price hike took place in late October 2021, coinciding with Facebook’s announcement of the rebranding to Meta. Mark Zuckerberg made several comments on the metaverse — a virtual universe that allows people to interact with each other through avatars, learn, make in-game purchases. 

Facebook is one of the most influential companies globally, so the announcement of the metaverse concept has generated a lot of interest in the whole topic. Still, Zuckerberg allocates at least 5-10 years to fully develop everything planned.

If you’re wondering where to buy SAND, you should definitely think about buying it at Switchere. On our platform, you have an opportunity to buy SAND in the fastest and most convenient ways using any available payment method. Moreover, we offer some surprising bonuses! Users of our platform enjoy a 0% service fee for the first order.

SAND Crypto Definition: Key Features to Know

What is SAND crypto? Sandbox (SAND) is a utility token of The Sandbox decentralized gaming platform that allows users to monetize their gaming experience. Token holders can vote on decisions made in the game’s ecosystem. The platform cooperates with projects and companies such as Atari, CryptoKitties, Shaun The Sheep and aims to integrate blockchain into the gaming industry.

SAND is an ERC20 token, running on the Ethereum blockchain and performing the following functions in the system:

  • Access to the platform. With this currency, users play games, buy in-game items and customize their characters.
  • Staking. SAND allows users to receive passive income. The more tokens staked, the greater the profit will be.
  • Governance. SAND holders make management decisions using the DAO structure. Participants can vote themselves or delegate the right to vote to another player.
  • About 5% of the total volume of SAND transactions made is allocated equally between a staking pool and the Company Fund.

The fund is needed to support the ecosystem — to assign grants to the creators of the best games on the platform, thereby encouraging and stimulating them. To date, more than fifteen game projects have been funded.

What Is The Sandbox Game All About?

What is SAND cryptocurrency project? As mentioned before, The Sandbox is a platform for creating and monetizing game experiences. Players create games and virtual worlds on a decentralized basis, while each creator has ownership of their creations. Thus, players are rewarded with a SAND utility token for active participation.

The Sandbox aims to overcome the limitations of a centralized gaming marketplace. The voxel gaming platform provides the ability to create games, play them, share creations, collect or trade in-game items without a central authority. Each in-game item has a unique, non-fungible blockchain identifier that confirms the authorship.

The Sandbox Marketplace

The Sandbox Ecosystem: Key Functions to Know

The platform’s gaming ecosystem consists of three integrated products that together provide a complete user-generated content (UGC) production process:

  • A powerful editor for 3D voxel modeling, with which any newbie will be able to create buildings, in-game characters, plants and sell or export them as game assets.
  • Internal marketplace for selling custom assets created in VoxEdit. At the same time, items are technically ERC-721 and ERC-1155 tokens.
  • Game Maker. It’s a tool directly for creating a game, that is, deploying in-game items created in the editor on a land plot. At the same time, a land plot is also an ERC-721 token and can be bought or sold. In addition to deploying items, users can implement gameplay mechanics and set up scenarios.

What is SAND in crypto space? The Sandbox uses two main technologies: NFTs and blockchain. NFT is a rapidly growing segment of the global gaming market. The technology implies that digital tokens are used to guarantee authenticity. Each token has a unique, non-fungible identifier that cannot be changed.

The Sandbox NFTs on OpenSea

Thanks to the use of NFTs, platform users will be able to enjoy many benefits:

  • True digital ownership. Each player forever remains the owner of their items, even if they give up playing the game.
  • Security and non-fungibility. Any item in a tokenized form can be sold on the build-in or secondary marketplace without the risk of theft or fraud.
  • Trade. Free purchase and sale of items that nothing can affect — even the platform creators cannot cancel the value of in-game items.
  • Compatibility between apps. All games are hosted on the same blockchain, and therefore in-game items can be transferred between them. This applies to equipment, characters, land plots, etc.

The Sandbox metaverse uses several digital assets at once to create a circular economy. In addition to SAND, players also have access to LANDS (land plots) and ASSETS (in-game assets) tokens.

What Is SAND in Crypto: Tokenomics

What is SAND in crypto? As mentioned before, SAND is The Sandbox native token issued in the ERC-20 standard of the Ethereum network, with a total supply of 3 billion tokens.

The SAND token is used to power all transactions and interactions in the project’s ecosystem. Players need to own SAND to play the game, customize their avatars, purchase land plots, or trade in-game assets on the build-in marketplace.

At the beginning of 2021, before the listing on Binance, the price of the SAND token did not exceed 5 cents. Still, on November 25, 2021, the token set its all-time high at $8.44.

All-Time SAND Price Chart

Crypto investors see tokens like SAND as assets with strong momentum and high return potential. The market cap of SAND is equal to $4,484,099,680, making it the 36th largest crypto by capitalization.

Prospects for The Sandbox (SAND)

Once we have considered SAND crypto definition, let’s find out the main prospects for the project. Currently, The Sandbox is riding a wave of interest in the metaverse sector, blockchain games, NFTs, and DeFi. But this platform is not the only one of its kind. Many other blockchain games offer similar ideas. The sector is growing significantly, and new NFT games appear almost every day.

If you are interested in the list of upcoming NFT games, make sure to check our complete review on the best ones!

Still, the token’s prospects depend both on the dynamics of the project’s development and on the cryptocurrency market sentiment. While it is difficult to make accurate forecasts on the second point, then one can analyze the prospects for the project’s development from the roadmap and plans for this year.

  • The developers plan to gradually open the game metaverse at the beginning of 2022;
  • In Q2, the launch of DAO and staking is planned;
  • In Q3, an extensive advertising campaign is planned;
  • In Q4, the launch of the game’s mobile version is planned.

As we can see, the project team has serious plans for 2022. Thus, it is worth monitoring the project’s development. If development takes place as planned, then the project really has a chance to expand its influence and attract millions of users in the next five years.

Conclusion

Given the huge interest in the metaverse sector, SAND is a cryptocurrency that definitely deserves attention. Game projects on the blockchain play an essential role in popularizing cryptocurrencies and decentralized solutions, attracting newcomers to this sector. Of course, as elsewhere, some risks are pretty difficult to assess since the rate jumps often depend on the news background. Therefore, it is worth looking at the project’s possibilities in the long term, given the high competition in this area.

What is SAND crypto? What other interesting facts do you know? Feel free to share your knowledge in the comments below!

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