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What is The Sandbox (SAND)? Things to Know About SAND Coin

Mentioning the rare Blockchain projects in the gaming sector that have participated in an IEO – the first launchpad token offering on Binance Launchpad – one cannot overlook The Sandbox project. You might not know, the currently popular and well-known video game Minecraft is a product that originated from this project. Let’s explore in detail what The Sandbox is, the highlights of the project, and the applications of the SAND coin in the article below with Finance Solutes!

1. WHAT IS THE SANDBOX (SAND)?

The Sandbox opens up a virtual world for players, where they can build, own, and even monetize their gaming experiences on the Ethereum blockchain by using SAND coin, the platform’s utility token.

In other words, The Sandbox aims to provide a metaverse — an immersive virtual space where players themselves create virtual worlds without being controlled by any central authority.

The Sandbox is striving to make a breakthrough compared to current game developers like Minecraft and Roblox by giving creators true ownership of their intellectual property in the form of NFTs — non-fungible tokens. Creators are also rewarded for their participation through the platform’s utility token, SAND coin.

2. THE SANDBOX ECOSYSTEM

To provide a comprehensive experience for content creators, The Sandbox ecosystem consists of three main components:

AMA with Sebastien Borget, COO & Co-Founder of The Sandbox

  • VoxEdit is used to animate 3D objects in the metaverse, such as characters, animals, tools, and publish them to The Sandbox Marketplace to become ASSETS (in-game assets).
  • The Sandbox Marketplace is where users can publish and sell ASSETS in the form of tokens (ERC-721 and ERC-1155 tokens).
  • The Sandbox Game Maker is where users can create free 3D games. In this mode, users are allowed to place and use their ASSETS on a piece of LAND (ERC-721) that they own. ASSETS can be used to decorate the LAND. More importantly, users can assign predefined behaviors to ASSETS and transform the LAND into an immersive and potential-filled game experience.

2.1. LAND and the LANDS Map

LANDS are virtual tokens based on the ERC-721 NFT standard, powered by blockchain, representing physical space within The Sandbox Metaverse. They allow players to own a portion of the Metaverse and thus host key content such as ASSETS and GAMES.

The Sandbox Metaverse map is composed of 166,464 LANDS arranged in a 408 x 408 grid. LANDS are physical spaces within the Metaverse that players can create on and own, with the goal of generating profit from games. LANDS are used to publish your game and can be rented out. Each LAND comes with a set of predefined terrains, but it can be shaped and modified by its owner (or other players invited to collaborate). In the future, players will be able to merge multiple LANDs to form an ESTATE. These ESTATEs will eventually be co-owned by multiple players to create DISTRICTS.

2.2. Avatar

An AVATAR is a voxel-based representation (the smallest distinguishable element of a 3D object) of a player in the game, and it can be customized part by part by its owner.

Specifically, owners can edit individual parts of the AVATAR — such as helmet, arms, torso, legs, etc. — by equipping it with various compatible ASSET tokens. The AVATAR has specific technical parameters and formats, and it comes with a default set of animations such as running, jumping, walking, and fighting.

3. HIGHLIGHTS OF THE SANDBOX

In the traditional gaming market, intellectual property ownership by creators is limited due to centralized control. Moreover, centralized oversight of virtual goods created by players restricts the proper value creation of these assets. Additionally, proving ownership of creative works is not easy, especially when content is copied, modified, or enhanced.

However, The Sandbox has come up with a solution to overcome these limitations while accelerating blockchain adoption in the gaming industry. It does this by building a voxel-based gaming platform where creators can create, play, share, collect, and trade freely without centralized restrictions, fully own their intellectual property rights, and earn profits in the form of SAND coin.

Through the use of NFTs, these intellectual property rights are clearly established and secured, where each in-game item has a unique and immutable identifier on the blockchain.

4. WHAT IS THE SAND COIN?

SAND coin là gì? Tất cả về dự án The Sandbox ở đây

The SAND coin is an essential component for maintaining operations on The Sandbox platform. Specifically, SAND is an ERC-20 utility token built on the Ethereum blockchain and serves as the basis for all transactions within The Sandbox ecosystem.

4.1. Basic Information about the SAND Coin

  • Token Name: SAND Token
  • Ticker: SAND
  • Blockchain: Ethereum
  • Contract: 0x3845badAde8e6dFF049820680d1F14bD3903a5d0
  • Token Type: Utility
  • Token Standard: ERC-20
  • Total Supply: 3,000,000,000 SAND

4.2. Use Cases of the SAND Coin

  • Accessing The Sandbox platform: Players use SAND to play games, purchase equipment, or customize their AVATARs. Conversely, players can also earn SAND through gameplay. SAND is used to purchase ASSETS and LAND via staking. The demand for SAND increases with users aiming to buy LAND. Content creators also use SAND to upload ASSETS to the Marketplace and purchase Gems.
  • Governance: SAND is also a governance token, allowing holders to participate in decision-making through a DAO structure. Token holders can vote on key elements such as grant allocations from the Foundation to game and content creators, and prioritize features on the platform’s Roadmap. Users can vote directly or delegate voting power to another player.
  • Staking: Staking SAND allows users to earn passive income on their LANDs, meaning holders receive more SAND as staking rewards. This is also the only way to acquire Gems and Catalysts, which are necessary to create ASSETS.
  • Fee Model = 5% of all trading volume made in SAND tokens (Transaction Fee) will be allocated 50% to the Staking Pool as a reward for SAND coin stake holders and 50% to the Foundation.
  • Foundation: The Foundation’s mission is to fund and encourage the production of high-quality content and games on the platform. So far, it has supported over 15 game projects and 100 creators to produce NFTs prior to the platform’s public launch in December 2020. The value of the metaverse increases as Foundation-funded games are developed, which in turn generates revenue to fund even larger game projects.

4.3. SAND Coin Allocation Plan

  • Seed Sale: 17.18%

  • Strategic Sale: 4%

  • Launchpad Sale: 12%

  • Foundation: 12%

  • Company Reserve: 25.82%

  • Founders & Team: 19%

  • Advisors: 10%

5. ROADMAP 

Below is the development roadmap updated from 2022. You can also check the live roadmap of The Sandbox project at: https://www.sandbox.game/en/roadmap/

Year 2022

  • Partnerships: New IPs and premium NFTs announced

  • Game Platform: Over 1,000 games available

  • Cross-Platform: Games available on consoles

  • Public LAND Sales: Regular LAND sale events continued

  • Game Maker – Co-build mode – create games with Friends, Custom scripting with 3rd party programming and major updates with more game packs and behaviors

  • Events: Additional seasons with attractive rewards

Year 2023

  • Game Platform: Expanded to over 5,000 games

  • Partnerships: Continued announcement of new IPs and premium NFTs

  • Game Maker: More updates with additional game packages and behaviors

  • Events: More seasonal events with major rewards

  • DAO: Launch of the Sandbox DAO, enabling SAND holders to participate in key decisions on the platform

6. DEVELOPMENT TEAM

Coin SandCoin Sand

Arthur Madrid – CEO and Director

Arthur Madrid is the Co-founder and Chief Executive Officer of Pixowl (acquired by Animoca Brands in 2018) as well as The Sandbox, a Board Member of Animoca Brands, and a long-time social entrepreneur.

He has sold two software companies (Wixi Inc. and 1-Click Media) and has served as an advisor to startups in the fields of gaming, social networking, and software. Arthur began his career by building a P2P distribution platform for Media companies, one of the first Distributed Computing Software (DCIA) platforms. He is now focusing on Blockchain Gaming as CEO & Co-founder of The Sandbox.

Sebastien Borget – COO and Director

Sébastien Borget is the Co-founder and COO of Pixowl (acquired by Animoca Brands in 2018) as well as The Sandbox (40 million players). Passionate about blockchain technology, gaming, and education, he is a frequent speaker and active evangelist for the opportunities that Non-Fungible Tokens bring to games.

He is currently building the metaverse with The Sandbox, one of the top-ranked and most anticipated blockchain games of 2019 (#13 in the Top 50), empowering players through NFTs, allowing them to own, buy, sell, and trade their 3D creations on the Marketplace and use them in their Game Maker. Sebastien also became President of the Blockchain Game Alliance in 2020.

Marcelo Santurio – CFO

Marcelo Santurio is the Co-founder of the first online payment company in Latin America and has over 20 years of experience in Finance, Technology, and Gaming. He holds an MBA from the London Business School.

Pablo Iglesias – Sandbox Game Developer

Pablo Iglesias has over a decade of experience working in emergency procedure systems research and development and has worked collaboratively with expert teams on several successful games.

Lucas Shrewsbury – CTO of The Sandbox, former CTO of Gameloft

Lucas Shrewsbury has spent over ten years leading mobile game studios. While at Gameloft Argentina, he managed the studio and a team of 200 people.

7. CONCLUSION 

The above article has compiled detailed information about the Sandbox project and the application of the SAND Coin. It is evident that The Sandbox is one of the crypto metaverse projects aiming to transform and ignite passion among creators, players, and the gaming platform itself. The Sandbox is paving the way for a new gaming market, where players truly own the fruits of their creative labor and are rewarded for the significant value they bring to platform operators.

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