The Sandbox is a virtual, open-world game where players can buy digital plots of land and create assets on top of them to share with other users.
It is a blockchain-based metaverse running on Ethereum, similar to Decentraland.
Since the Sandbox is built on the Ethereum blockchain, it is secured by the Proof of Stake (PoS) mechanism.
Unlike the Proof of Work (PoW) consensus mechanism employed by Bitcoin, PoS does not require large amounts of electricity or computing power to validate transactions.
According to its official whitepaper, the Sandbox platform focuses on facilitating a creative “play-to-earn” model that enables users to be creators and gamers simultaneously.
Unlike existing games such as Minecraft and Roblox which also focus on user-generated content, the Sandbox gives complete control and ownership to creators or players in the form of Non-Fungible Tokens (NFTs).
Through its governance token, the Sandbox also aims to revolutionize the virtual gaming market through its community of players involved in the platform’s development.
What is the SAND token?
Gameplay transactions on the Sandbox are facilitated through the SAND token (ERC-20).
Holding SAND enables users to purchase LAND, interact with user-generated content called ASSETS, and participate in the governance of the DAO.
SAND tokens can also be staked to earn more SAND.
The first phase, which focuses on liquidity mining, involves staking SAND tokens in the Uniswap liquidity pool.
The second phase is not yet live, but it is said to introduce yield multipliers based on LAND ownership.
The Sandbox LAND is a blockchain-based token (ERC-721) that represents parcels in the Sandbox metaverse.
This NFT allows players to own a portion of the virtual world, which comes with the option to build or rent.
Users can also create ASSETS on LAND that they own, and they can also host games or events on their property.
ASSET tokens are also NFTs (ERC-1155) that represent in-game items such as equipment for avatars. These can be traded in the Sandbox marketplace.
All transactions on the network using SAND tokens are charged a 5% transaction fee by The Sandbox. 50% of that fee is allocated to the staking pool as rewards, while the other 50% goes to the Sandbox Foundation, which supports the Sandbox ecosystem through grants to game makers and designers.
There is a maximum supply of 3 billion SAND tokens, with roughly a quarter set aside in a company reserve and 17.18% allocated for the seed sale of the token.
Around 12% of the total supply was set aside for a dedicated Binance Launchpad sale and another 10% is allocated for rewards to advisors on the project.
How does the Sandbox work?
The Sandbox is built on Ethereum, enabling the software to track ownership of digital LAND and ASSET NFTs on the platform. Users transact on the ecosystem using Ethereum wallets holding their SAND tokens.
Developers can innovate within the Sandbox platform by designing the animation and interactions on their virtual real estate.
One way to do so is through the Voxel Editor, wherein users can create voxels to bring creations like flora, fauna, and avatar equipment to life.
Another way is through the Game Maker, which lets users build 3D games on their LAND using ASSETS created or bought on the marketplace.
Users can then upload these creations into the Sandbox marketplace, where these are first registered as ASSETS or ERC-1155 tokens before being bought and sold using SAND tokens.
Team Background
The Sandbox was introduced in 2012 by Pixowl, which was founded by Arthur Madrid and Sebastien Borget.
CEO Arthur Madrid graduated with a degree in Economics from Université Paris Dauphine before he became a consultant for Eurogroup Consulting France. In 2001, he founded 1-Click Media, which was later acquired by Ipercast.
COO Sebastien Borget graduated with a degree in computer systems networking and telecommunications from Institut national des Télécommunications. He worked with Arthur as project lead for 1-Click Media before they founded Pixowl in 2011.
Notable Investors: Binance Labs, Coinbase Ventures, Winklevoss Capital Management, LLC, ParFi Capital, True Global Ventures
Token Metrics:
- Holder addresses: 177K on Ethereum, 41K on Polygon, 407 on Solana,
- Maximum supply: 3 billion SAND
- Circulating supply: 1.5 billion SAND
- Inflation Rate: 23.25%