In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are talking about Sandbox and SAND token. We will find out what its phenomenon is, what are its possibilities and prospects.
History of Sandbox (SAND)
Although Sandbox (SAND) is one of the more famous crypto projects of the metaverse niche, its roots are not at all found in the blockchain space. In 2012, a collaboration between Pixowl studio and Animoca Brands created a game with a very simple and thoughtful name, “The Sandbox”. The player played the role of a character who explored the virtual world and from its simple resources, such as water, sand, lava, glass, had to create his own space. Of course, the game also featured a number of challenges in which the authors encouraged the creation of increasingly advanced worlds.
It was only in 2018 that Animoca Brands studio fully acquired the rights to the game and began the process of adopting it to blockchain technology. Such action was dictated by the desire to increase the capabilities of the game, so that players could not only create its elements, but also trade them. A year later, $2.5 million was raised to fund the new creation, as well as enable the registration of its new users.
Today, Sandbox is a virtual world where everyone can build their own, completely individual space. The whole thing is based on the Ethereum blockchain and supported by the SAND token, thanks to which it is possible to make transactions.
Sandbox world is divided into plots. Their number is predetermined and is 166 464 pieces. It is intended to remain unchanged. Having SAND tokens, you can make purchases of real estate, you can also rent and sell them. It is possible to fill the space purchased by yourself with any elements coming from other creators. You can also produce your own creations. Metaverse Sandbox is also a window into the world of NFT. Here it becomes possible to create non-exchangeable tokens and send them to the marketplace, in order to integrate with games, or sell them.
Today Sandbox, like many other metaverse projects, is becoming a window on the world for global brands. Many of them are fighting for space in the virtual world, so they can also advertise here. Sandbox is also an opportunity for other networks. Chiliz based on Socios creates a space for holders of fan tokens. The Binance exchange also has its plot.
Sandbox Price Action (SAND)
Since Sandbox (SAND) in the blockchain space is one of the younger projects, its price action is not one of the longest, and the 2020/2021 bull market is the first that the project is experiencing. The total supply of the token is 3 billion units, of which at the time of writing this article, about 30% is in circulation. As recently as January 2021, the value of one token was less than $0.05 to reach a local peak of nearly $0.90 on March 20. One of the most significant moments for SAND was the rebranding of Facebook to Meta. The brand behind the world’s largest social media outlet, indicating its new direction, became the driving catalyst for all metaverse projects. Thus, from October 28, up to the time of writing this article, SAND has skyrocketed from $0.76 to $8.81. This is an increase of over 1050%, in just four weeks, and the simultaneous establishment of a new ATH.
Sandbox Opportunities (SAND)
It’s hard to argue that Sandbox (SAND) is on its way to a bright future. The growing gaming community, and the ability to monetize through gaming, are strong arguments for the project’s continued excellent development. The presence of brands and other networks in the Sandbox space only reinforces this thesis. All accompanied by the fashion for the metaverse, which is evolving through the largest global social media. In short – The Sandbox is worth watching. There’s probably a lot more to come around it.