What is The Sandbox NFT
The Sandbox NFT is a game that uses the power of the blockchain to achieve a monetization model along with a market and a series of facilities to generate unique NFTs in the world. It is often confused with (SAND), which is its official cryptocurrency.
Sandbox is a virtual world where you can create your characters, improve them and interact with a vast virtual world in the purest Minecraft style, unlike this Sandbox is not a pc game this is only present on iOS and Android. But, at the same time, it relies on blockchain technology to create a unique experience through the use of NFT and SAND tokens, the platform’s native token, which allows you to monetize your game and get benefits from it.
This has made The Sandbox one of the fastest-growing games in the crypto world, finding its own space against competitors like Axie Infinity, AAVEGOTCHI, and CryptoKitties.
SAND is an ERC-20 token that allows transactions within The Sandbox. It allows the players to buy and sell the different assets that are available in the game. For example, a user can use SAND tokens to access mini-games within The Sandbox, purchase equipment, upgrade their characters, purchase LAND, and much more.
Sandbox (SAND) – History
The Sandbox is a project started in 2012 at the hands of the company Animoca Brands. The project started out as a mobile gaming platform focused on being a competitor to Minecraft. The success of the project at that time was such that it managed to account for more than 40 million installations worldwide. However, the developers at Animoca became interested in the potential of blockchain technology, especially NFTs, to make unique games. This led the company to research and develop technology in this regard, which led to the creation of The Sandbox, a project that began in 2018. The idea for this new game was to create a 3D metaverse, with NFT collectibles and a real economy based on the SAND token. Blockchain technology would make all these possible thanks to the smart contracts of the Ethereum network. After a year of development, Animoca presented the first version of The Sandbox and opened the first LAND pre-sale, which was a resounding success. In fact, since the arrival of The Sandbox, Animoca has become one of the few companies to achieve great success in the blockchain gaming ecosystem. In fact, currently the entire The Sandbox ecosystem accumulates a capitalization that exceeds 300 million dollars, making this game one of the most valuable in the ecosystem.
Sandbox Coin (SAND) – Economy
There is a maximum and total supply of 3,000,000,000 SAND tokens. Around 680,266,194 SAND tokens are currently inactive in circulation, representing 23% of the total available supply as of March 2021. Of the total token supply, around 25.82% was set aside in a company reserve. Another 17.18% went to the seed sale of the token. The founders and team members obtained about 31% of the total supply of tokens distributed among them. Around 12% of the total supply was set aside for a dedicated Binance Launchpad sale, with another 10% dedicated as a reward to project advisors.
How does Sandbox work?
The entire operation of The Sandbox is possible thanks to Ethereum smart contracts, the heart of the NFT system, tokens, and blockchain interaction. Animoca uses a tool known as VoxEdit, a software that allows the generation of Voxel-like 3D worlds and graphics, which can be easily associated with constructions using blockchain technology. In fact, VoxEdit is a complete software that contains a modeler, animator, and NFT creator, which makes it a powerful tool for the development of such games. And we are not talking about just any editor, it is a piece of development used by greats in the industry such as Atari and Square Enix. In other words, VoxEdit is a professional tool that will surely have a wide presence in the video game sector. The idea of uniting VoxEdit and Ethereum takes on greater meaning when they are combined in The Sandbox: both technologies are applied to create a dynamic metaverse, capable of hosting millions of users, evolving, and, above all, creating a unique economic ecosystem and markets. In this strategy, the platform tokens have special participation: SAND, GEM, and CATALYST, which are utility tokens under the ERC-20 standard, and LAND and ASSETS tokens, which are ERC-721 and ERC-1155 tokens, respectively. The Sandbox, like other games of its kind, depends on a hybrid structure, where the servers that allow the visualization of the virtual world are executed in centralized servers, while the logic of the tokens, collectibles, and the information related to them, is executed on blockchain over decentralized networks like IPFS (data storage). This ensures that the system can allow ample latitude for its developers, while also supporting the player’s collectibles, characters, and other assets in a way that simply can’t go away if the company no longer continues. the game.
The Sandbox (SAND) – Mining
Miners provide liquidity to the $SAND/ETH pool on Uniswap and stake some $SAND on our platform to earn back a share of the fixed 1.5M $SAND in rewards per month. Miners then earn 5% fees plus LAND NFT yield multipliers. Bonus: earn a yield multiplier based on LAND ownership. The more LAND you have, the more $SAND rewards you earn! To qualify for rewards, liquidity providers need to stake their $SAND/ETH Uniswap LP tokens via The Sandbox staking.