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- 1 The platform uses NFTs and DAOs to create a decentralized gaming community.
- 2 SAND tokens can be used to buy land and other resources on the platform
Sandbox is a virtual world that is owned by a decentralized community. Creators can host custom games and events on the virtual world. Some analysts compare Sandbox with Roblox because they have similar concepts. But the main difference with Sandbox is that players have real ownership of the virtual world assets as NFTs. This means that LAND owners can host contests and events, stake SAND to earn and customize assets, sell assets and experiences, vote in the metaverse governance, play games, and more.
The Sandbox platform’s main goal is to bring blockchain technology to mainstream gaming successfully. The platform enables a creative “play-to-earn” model, which allows users to be both creators and gamers at the same time. The Sandbox uses the SAND utility token, which allows transactions on the platform.
Use cases of Sandbox
SAND is the token that powers The Sandbox platform, and it has many uses cases. It can be used to buy land and other resources on the platform, as well as to join the monetization of user-created experiences. It can also be used to reward players, developers, and content creators for the work on the platform, like as giving feedback and creating content. SAND can also be utilized to purchase virtual objects, l as avatars, gaming experiences, and other digital assets.
About the Founder of SAND
The Sandbox platform, or SAND, is the result of a collaboration between Pixowl, a mobile game developer based in San Francisco, and Animoca Brands, an Asian game developer and publisher. They combined their powers in game development and blockchain technology to construct the platform. The Sandbox was co-founded by Arthur Madrid, who is the CEO, and Sébastien Borget, who is the COO.
They have been vital in shaping the platform with their expertise and innovation. Arthur Madrid, who is passionate about gaming and blockchain technology, has been leading The Sandbox’s vision, bringing strategic insight and entrepreneurial skills that have helped the company grow. Sébastien Borget, who has a rich background in the gaming industry, provides valuable operational knowledge and skill, managing the daily operations and fostering teamwork, which are essential for The Sandbox’s success.
Circulation Supply of SAND
The SAND tokens have a fixed and maximum supply of 3,000,000,000. As of March 2021, only 23% of the total supply, or about 680,266,194 SAND tokens, are in circulation.
The company reserve holds 25.82% of the total supply. The seed sale of the token got 17.18% of the total supply. The founders and team members shared 31% of the total supply among themselves. The Binance Launchpad Sale received 12% of the total supply. The advisors on the project were rewarded with 10% of the total supply.
Conclusion
The Sandbox’s decentralized architecture, innovative play-to-earn concept, and integration of NFTs and DAOs position it as a revolutionary force in the gaming landscape. Despite being in its early stages of development, the platform has garnered a substantial and enthusiastic user base, fostering a strong belief in its potential to shape the future of gaming.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
