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Sandbox: The Next Big Thing in the Metaverse

The SAND token’s value has increased substantially from Jan 2021 to Dec 2021 and recorded more than a 10,000% increase in its price.


Key Takeaways

  • Metaverse is the new boom in the crypto community after NFTs. The Sandbox, Decentraland, CryptoVoxels, and Somnium Space are the leading virtual spaces.

  • The Sandbox is dominating the metaverse space with the highest trading volume of $86 million as of November 2021.

  • As a social blockchain gaming platform, The Sandbox is gaining popularity by allowing users to create, play, build, and monetize their creations and gaming experience.

  • The much-awaited Sandbox Alpha game began on Nov 29 and will continue till Dec 20.

  • The SAND token’s value has increased substantially from Jan 2021 to Dec 2021 and recorded more than a 10,000% increase in its price.

sandbox crypto coin

Technological developments always find their way to surprise us in the most unexpected ways. From the invention of telephones and GPS to the creation of smartphones and the internet, technology has become an undeniable part of our everyday life.

The creation of Bitcoin by an anonymous person called Satoshi Nakamoto paved the way to many other unrealistic innovations using its underlying blockchain technology, like decentralized applications, different types of cryptocurrencies like stablecoins, security tokens, utility tokens, NFTs, DeFi, GameFi, web3.0, and a whole new alternative universe.

The virtual world or the alternative universe called the “metaverse” is the new hype in the crypto community. The concept of the metaverse and NFT gaming has surged in popularity after Facebook’s rebranding to “Meta”. The Sandbox, Decentraland, CryptoVoxels, and Somnium are the leading virtual spaces in the crypto community.

According to DappRadar data, The Sandbox is dominating the metaverse space with the highest number of sales and traders. The platform also has the highest trading volume i.e., $86 million as of November 2021 followed by Decentraland, CryptoVoxels, and Somnium Space. These top four metaverse projects are outperforming some of the big NFT projects with more than $100 million worth of virtual land sales collectively in a single week.

What is The Sandbox?

The Sandbox is a gaming ecosystem and metaverse based on the Ethereum network which allows users to create, share, and monetize in-world assets and gaming experiences using NFTs and the main utility token SAND.

The Sandbox is well-known for its two mobile gaming hits, The Sandbox in 2011 and The Sandbox Evolution in 2016. The developer of the platform, Pixowl decided to bring this large community of creators from traditional gaming to the blockchain ecosystem. The main aim of the platform is to disrupt existing game makers by providing creators with true ownership of their creations as NFTs and rewarding them for their participation on the platform.

The Sandbox blockchain gaming platform consists of three integrated products: Voxel editor, Marketplace, Game maker which combinedly provide a comprehensive experience for user-generated content (UGC) production. Voxel editor allows users to create voxel models, rig them, and animate them which helps in the creation of NFTs. An open marketplace on the platform enables users to trade the in-game tokenized assets and the game maker helps creators to build, share, and monetize their games on the online 3D gaming platform. The Sandbox metaverse has three main types of tokens called SAND, LAND, and other digital assets to make sure that different types of users such as players, creators, curators, landowners have a circular economy inside the virtual world.

Why is The Sandbox popular?

The Ethereum network-based online gaming is providing an excellent investment opportunity for users by integrating blockchain technology into traditional gaming. Though there are many attempts made to integrate blockchain and gaming previously, The Sandbox is the most successful project due to its unwavering commitment to complete decentralization. While the other projects use blockchain just to store in-game assets, The Sandbox aims to create a fully decentralized gaming environment where users have the power to control their creations.

Since the users have the final say on everything in The Sandbox environment, it can grow at a much faster rate organically than most of the centralized gaming environments. The SAND token is not only in-game money but also a governance asset that allows stakeholders to influence the project’s evolution. This is the reason many blockchain investors believe that The Sandbox is a worthwhile investment.

Significant investments in the virtual land of The Sandbox

Virtual real estate is the next big thing in the metaverse space. Recent news headlines regarding the huge sales of virtual lands in The Sandbox and Decentraland are grabbing the attention of people all over the world. Some of the large virtual land investments are discussed below.

  • The Metaflower Super Mega Yacht was sold for 149 ETH or around $650,000 in late November. This marked the most expensive NFT item sold in The Sandbox metaverse and the most expensive NFT item sold in a video game. The asset was sold by a premier developer in the metaverse called Republic Realm via a six-day auction. Republic Realm owns assets in 19 metaverse platforms and has developed multiple real estate projects.

  • A 100 private island NFTs in The Sandbox known as Fantasy Islands which were also developed by Republic Realm were sold out within 24 hours. Currently, the floor price of each island is around 60 ETH.

  • The leading metaverse platform made headlines by partnering with Adidas, Nifty Gateway, Gemini, and popular rap start Snoop Dogg.

  • The Sandbox also attracted the attention of Snoop Dogg’s fans as he is recreating his California mansion in the metaverse. When the rap icon tweeted asking if anyone wanted to be his virtual neighbor, the plot next to Snoop Dogg was sold for 71,000 SAND or around $450,000.

  • The developer, Republic Realm paid $4.3 million for a metaverse property from Atari SA in The Sandbox during November 2021.

The metaverse is gaining a lot of momentum from gaming enthusiasts, blockchain developers, crypto investors, and virtual landowners. The much-awaited Alpha game in The Sandbox began on November 29 and will continue till December 20 which allows users to play, create, own, and govern a virtual metaverse made by the users. While the online game is booming in terms of its virtual land sales, all the eyes are on its cryptocurrency SAND. The SAND token value was around $0.05 at the beginning of 2021, whereas it is worth $5.18 as of December 2021 which constitutes a significant rise of around 10,000% in one year.

The verdict

The metaverse projects are the next boom in the crypto community after NFTs. Considering the high-level interest of different types of users in the metaverse sector, SAND seems to be one of the promising meta tokens with huge potential. Similar to a lot of other crypto projects, there is an inherent risk if the project doesn’t take off as expected. However, The Sandbox appears to have a stronghold in the industry if we take its partnerships with brands and huge virtual land sales into account.

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