The Sandbox

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Discover The Sandbox's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is The Sandbox?

The Sandbox (SAND) is a blockchain-based gaming platform where users can create, build, and monetize their gaming experiences. It uses the SAND token, an ERC-20 utility token built on the Ethereum blockchain, for transactions, governance, and staking. The platform allows players to buy and sell digital assets, create games, and participate in a decentralized economy within the metaverse.

How is The Sandbox used?

The Sandbox (SAND) is a versatile utility token that serves several purposes within the ecosystem:

  1. Value Transfers: SAND is used for value transfers, facilitating transactions within the platform.

  2. Staking and Governance: It is an ERC-20 token used for staking and governance, allowing holders to participate in decision-making processes and earn rewards.

  3. Creating and Trading Assets: SAND is required to create and trade ASSETS (non-fungible tokens) on the marketplace, which can be used within the game and on LANDs.

  1. Buying and Selling LAND: SAND is used to purchase and sell LANDs, which are digital pieces of real estate in the metaverse.

  2. Game Development: It is used to build and monetize games using the Game Maker tool, allowing creators to earn revenue.

  3. Monetizing Experiences: SAND can be used to charge players for access to specific experiences or to purchase assets from other creators.

  1. Participating in Contests: SAND can be earned through contests and raffles hosted on LANDs.

  2. Staking for Passive Income: SAND can be staked to earn passive rewards, including exclusive rewards for LAND owners.

Overall, SAND is the foundation of The Sandbox's digital economy, enabling a wide range of activities and transactions within the platform.

How do I store The Sandbox?

To store The Sandbox (SAND) tokens, you can use various digital wallets that support the Ethereum blockchain, as SAND is an ERC-20 utility token. Here are some options:

  • Coinomi: You can download the Coinomi wallet for your platform (Android, iOS, Windows, Linux, or macOS) to securely store, send, receive, and exchange your SAND tokens.
  • MyEtherWallet (MEW): MEW offers a SAND wallet in collaboration with Enkrypt, allowing you to hold SAND in a self-custody crypto wallet.
  • Zengo: Zengo provides a mobile wallet for SAND, enabling you to easily send or receive SAND tokens and track your portfolio. It uses facial recognition technology and sophisticated authentication methods for security.

Additionally, you can use MetaMask, which supports multiple networks including Ethereum and Polygon, allowing you to hold SAND tokens and bridge between networks if needed.

How to buy The Sandbox?

To buy The Sandbox (SAND) tokens, follow these steps:

  1. Create an account: Sign up for a cryptocurrency exchange that supports SAND, such as Coinbase, MoonPay, SpectroCoin, or other exchanges like Gemini, Crypto.com, Kraken, Paybis, or WazirX. Verify your email address and identity as required.

  2. Add a payment method: Connect a payment method, such as a bank account, debit card, credit card, or wire transfer, to your exchange account.

  3. Search for The Sandbox: On the exchange, search for The Sandbox (SAND) and select it from the list of available assets.

  1. Enter the amount: Enter the amount you want to spend in your local currency or the amount of SAND you want to purchase. The exchange will automatically convert the amount.

  2. Finalize the purchase: Review the details of your purchase and confirm the transaction. Once the order processes, you will receive your SAND tokens.

  3. Store your SAND: Transfer your SAND tokens to a secure wallet, such as a hardware wallet or a software wallet like Metamask, to ensure their safety.

Remember to research and understand the fees, market conditions, and risks associated with buying and holding cryptocurrencies before making a purchase.

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History of The Sandbox

The history of The Sandbox (SAND) is multifaceted, encompassing both the physical sandbox and the virtual world built on the Ethereum blockchain.

Virtual Sandbox (The Sandbox Game)

The virtual sandbox, known as The Sandbox. It is a virtual world built on the Ethereum blockchain, where players can create, own, and monetize their gaming experiences. The platform uses the SAND token, an ERC-20 utility token, for value transfers, staking, and governance.

The Sandbox allows users to create digital assets in the form of Non-Fungible Tokens (NFTs), which can be sold on the marketplace. Players can also build and monetize games using the Game Maker tool. The platform features a virtual real estate system, where players can buy and own digital pieces of land called LANDS, which can be populated with games and assets.

The Sandbox has become a popular platform for users to engage in creative and constructive play, much like its physical counterpart. It has also spawned a community focused on building and sharing digital assets and experiences.

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How The Sandbox works

The Sandbox (SAND) is a virtual world and gaming platform built on blockchain technology, specifically on the Ethereum blockchain. It allows users to create, own, and monetize their gaming experiences and virtual assets. Here's a detailed overview of how it works:

Underlying Technology

The Sandbox operates using a proof-of-stake consensus mechanism, which enables decentralized storage and execution of smart contracts. This ensures that the platform is secure, transparent, and community-driven.

User-Generated Content and Virtual Land Ownership

The platform allows users to create digital assets in the form of Non-Fungible Tokens (NFTs) using the VoxEdit tool. These NFTs can be uploaded to the Marketplace, where they can be sold and collected. Users can also purchase digital pieces of real estate called LAND, which can be populated with games and assets. Multiple LANDS can be combined to form an ESTATE.

Governance and Decision-Making

The Sandbox ecosystem is governed by decentralized autonomous organizations (DAOs), which enable community-driven decision-making. This ensures that the platform is shaped by the needs and preferences of its users.

Token Creation and Distribution

The Sandbox (SAND) tokens are created through a combination of minting and rewards mechanisms. Initially, a fixed supply of SAND tokens was minted during the project's genesis. Subsequently, SAND tokens are distributed as rewards to users who contribute to the ecosystem, such as creators building virtual assets or participating in governance activities. The distribution of SAND tokens is designed to incentivize participation and engagement within the platform.

Monetization

Users can monetize their time on the platform in several ways:

  1. Selling Assets: Users can create and sell assets on the marketplace as NFTs.
  2. Owning a LAND: Buying a LAND and then renting it or populating it with content to increase its value.
  3. Building Games: Building and monetizing games using the Game Maker on owned LANDS.
Transaction Fees and Gas Costs

The Sandbox uses ERC-1776, which allows platform users to initiate transactions on the Ethereum blockchain while transaction gas fees are paid by the platform. This optimizes the overall user experience by reducing the burden of gas costs.

The Foundation

50% of all SAND transactions collected from LAND sales, Premium NFT sales, transaction fees, and subscription services go to the Foundation. The Foundation supports the ecosystem of The Sandbox, contributing to the growth of awareness about NFTs, the Metaverse, and $SAND.

Overall, The Sandbox offers a vibrant metaverse for building, exploring, and interacting with virtual worlds and experiences, providing a unique space where users can create, play, and earn.

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The Sandbox's strengths

The Sandbox (SAND) has several strengths that contribute to its success and popularity:

  1. Creative Freedom: The Sandbox provides users with a range of tools, such as VoxEdit and Game Maker, allowing them to create and customize their own digital assets and experiences within the metaverse. This creative freedom attracts a wide range of users, from casual players to professional developers.

  2. Monetization Opportunities: The platform offers various ways for users to earn revenue, including selling digital assets, renting out LAND, and creating games that generate SAND tokens. This play-to-earn (P2E) model incentivizes users to engage actively with the platform.

  3. Governance and Staking: The SAND token is used for governance and staking, allowing users to participate in decision-making processes and earn passive rewards. This encourages community involvement and helps maintain the platform's stability.

  1. Established Partnerships: The Sandbox has partnered with well-known brands like Atari and Snoop Dogg, bringing in new users and increasing its visibility in the gaming and entertainment industries.

  2. Robust Ecosystem: The platform's ecosystem is built on the Ethereum blockchain, ensuring secure and transparent transactions. Additionally, the use of ERC-1776 optimizes user experience by covering transaction gas fees.

  3. Wide Availability: SAND tokens are listed on multiple established exchanges, making it easily accessible to investors and users.

These strengths have contributed to The Sandbox's growth and recognition as a leading blockchain-based metaverse.

The Sandbox's risks

The Sandbox (SAND) poses several risks, primarily related to health and safety hazards. These risks include:

  • Microbial and Fungal Growth: Wet sand left in bags can harbor bacteria and mold, which can be harmful to children playing in the sandbox.
  • Contamination from Animals: Sandboxes can be contaminated by animal waste, particularly from raccoons, feral cats, and other animals that use them as litter boxes. This can lead to parasitic diseases like toxoplasmosis and ringworm.
  • Physical Hazards: Sandboxes can harbor physical hazards such as sharp objects, splinters, and other protrusions that can cause injuries.
  • Chemical Hazards: Some sandboxes may be constructed with materials containing harmful chemicals like creosote, which is a carcinogen.
  • Inadequate Drainage: Sandboxes without proper drainage can lead to puddling of water, creating an environment conducive to microbial growth and other hazards.
  • Lack of Maintenance: Failure to regularly inspect and clean sandboxes can lead to the accumulation of hazards, making them unsafe for children.

To mitigate these risks, it is essential to use sterilized sand, maintain proper drainage, cover sandboxes when not in use, and regularly inspect and clean them to remove hazards.

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Did The Sandbox raise funds?

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The Sandbox’s team

  • Arthur Madrid: CEO of The Sandbox, a visionary leader with a deep passion for gaming and blockchain technology, instrumental in shaping the direction of the company.
  • Sébastien Borget: COO of The Sandbox, a seasoned professional in the gaming industry, overseeing day-to-day operations and fostering collaboration across teams.

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The Sandbox NEWS REPORT

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