It seems that the virtual landscape keeps on expanding right before our very eyes. It may seem that the reforms sought after by these companies and investors is really far away but we never know what kind of an event may serve as a catalyst to revolutionize everything. Regardless, the base has to be built in order to that. One thing to look out for are the Non-Fungible Tokens (NFTs) that have the value of billions of dollars. They come in all sorts of forms. One predominating form is that of the NFTs you get in videogames. These videogames have incorporated a mechanism in which NFTs or coins can be obtained and traded with each other. Sandbox is one of those games.
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“Play.Create.Own.Govern.Earn.” This is the model of a virtual world that Sandbox is aiming for. SAND is the main utility token through which the players can build, own, and monetize their gaming experience. The decisions taken in the world of SANDBOX are through the Decentralized Autonomous Organization (DAO) where policy can be dictated by the majority of SAND holders.
Sandbox is a game like the famous Minecraft where the players get to build their own little worlds within the world using the voxel gaming platform where the creators are able to craft, play, share, collect and trade without central control. The SANDS are based on Ethereum-blockchains. In addition, the in-game items would have their own unique identity which will ensure their value as NFTs.
The Sandbox gaming ecosystem consists of three integrated products that together provide a comprehensive experience for user-generated content (UGC) production. These three components are the voxel editor, which can be used to create things in the game, the marketplace, used to upload, create, and publish ASSETS made in the VoxEdit, and finally the GameMaker where the characteristic of the ASSET can be played out.
At the time of writing this article, the value of the SAND is $1.30, a 15.49% increase over the past twenty-four hours. It has a current trading volume of $1.2 billion dollars with an increase of 37.29%. This can be mainly attributed to the recent news of Facebook Inc. rebranding itself as “META” which is aiming at a centralized ecosystem and completely dominating the marketspace. To spell it out clearly, investors view Facebook’s rebranding as a huge endorsement for metaverse projects. It is an unsteady marketplace for crypto-gaming as Valve has come out and banned all crypto-related content for their platform of steam as they say that crypto-currency doesn’t have intrinsic value.
Regardless, the sandbox is in partnership with quite the popular names such Atari, Snoop Dog, The Walking Dead, Smurfs, and many more. The prospects of this play-to-earn model are promising. But we have to see how it will wager in the future.