Altcoin of the Week: The Sandbox (SAND) Crypto
Do you like blockchain technology? How about gaming? Well, SAND or The Sandbox is a unique gaming arena that combines both of these concepts along with DeFi, NFTs, and 3D metaverse technology.
Sounds like a lot of good things in one, which may leave you wondering just how all of these concepts work together to create a technology that has people talking. Keep reading to find out more about it, and learn how you too can have fun in The Sandbox.
What is The Sandbox?
Essentially, The Sandbox is a play-to-earn game, meaning the more you play it, the more chances you have to earn certain rewards. The Sandbox is a bit like Minecraft, in that the game is whatever you make of it. You can purchase land and build your own empire, design your own avatars, or engage in challenges and contests within the game.
As you are playing and building in the virtual Sandbox world if you create something unique you can actually use the game to sell it as an NFT right from within the game. The Sandbox has its own NFT marketplace called The Sandbox Marketplace. The Sandbox platform is additionally compatible with VoxEdit and GameMaker which you can use to make your own NFTs.
The game itself runs on its native cryptocurrency known as SAND. And when you sell NFTs in the marketplace, you will be paid in these tokens. Besides just SAND, there are two other tokens used on the platform, LAND, and ASSETS. All of these tokens are decentralized, meaning holders of the token get to vote on the future of the blockchain.
SAND is an ERC-20 token, while LAND is an ERC-721 token. LAND can be purchased in the game as well as on the OpenSea marketplace. SAND has a maximum supply of 3 billion tokens in order to control inflation, of which 910 million have already been issued. LAND tokens on the other hand are capped at 166,464. You can combine multiple lands to create something called an Estate.
Who Invented The Sandbox?
The Sandbox was invented all the way back in 2011 by Pixowl, and it was originally a mobile gaming platform. By 2018, it was such a hit that the creators, Arthur Madrid and Sebastien Borget wanted to make The Sandbox into something more. This led to it becoming a 3D platform, which was released in 2020 to rival similar games like Axie Infinity and Decentraland.
The game has gathered hundreds of followers, some of which led to partnerships. As of the writing of this article, The Sandbox is partnered with Atari, Cryptokitties, and Snoop Dogg.
Should You Play The Sandbox?
If you love playing video games and want to try your hand at earning a little money while you do so, there is no reason not to play The Sandbox, after all, it’s like Minecraft but you can make money as you play.
That being said, if money is your only reason for playing The Sandbox, you may want to try a different type of investment. This is because playing the game isn’t always easy, and there is no guarantee you will make lots of SAND, or create an NFT that sells for thousands of dollars. You’re probably better off putting your money into Bitcoin or Ethereum investment if you’re looking for passive income.
But, again, if you love Minecraft and would like to get paid to play, The Sandbox is probably a great way to spend your time, just don’t expect to become rich off of it.
How Can You Earn Money in The Sandbox?
There are a couple of different ways to make money by playing The Sandbox. The first of which is by creating ASSET tokens using VoxEdit then selling them in the marketplace. These ASSET tokens are NFTs and can be anything from animals to avatars, or even vehicles like motorbikes.
Additionally, you can create your own mini-game within The Sandbox and make money by letting other players play it. Renting out your LAND plot to another player is also an option.
Should I Invest in SAND?
Not a game player? Then you may be considering an investment in the SAND token. Which while this isn’t a bad idea, there is no guarantee that this will make you any money. This is because the SAND token only has value in The Sandbox. So if anything were to happen to the game, the token would be useless.
Holding SAND grants you voting rights for the blockchain, but many of the items voted on probably won’t affect you if you aren’t a player of the game. Therefore there really isn’t any reason to purchase the token. Especially because there are several other tokens in the space, namely Decentraland (MANA) which performs the same process, just in a different game—thus SAND isn’t necessarily revolutionary or special.
That being said, if you love the idea of the game, and think that the whole world will be playing in a few years, there is no reason not to invest in SAND. Not to mention if you purchase enough of the token, you can stake SAND, as it runs on a proof of stake system. This means that you can use your SAND to make more SAND, which could come in handy.
Where Can I Buy SAND?
There are a few different places you can buy SAND to get started in the game. You can buy SAND using Ethereum, Bitcoin, and USD (plus a few other cryptocurrencies) on the Binance Exchange. You can also buy SAND on Uniswap, Gate.io, and LATOKEN, but note that these exchanges have much less liquidity than Binance.
Overall, The Sandbox is a decent DeFi gaming product in the cryptocurrency world, and if you love Minecraft, you should definitely check it out. Just keep in mind that playing the game does not guarantee you will make money, nor that you will be able to sell the NFTs you make. Happy gaming!