Down the Rabbit Hole: Sandbox, A Leading Metaverse
In the Ethereum Blockchain, The Sandbox is a virtual world where users may create, own, and monetize their gaming experiences.
The Sandbox is renowned for its two big mobile hits, The Sandbox (2011) and The Sandbox Evolution (2016), which together have had over 40 million downloads on Android and iOS. Pixowl, a mobile game developer/publisher, opted to transfer its popular User Generated Content gaming IP and a big community of artists to the Blockchain environment in 2018. The idea is to disrupt incumbent game developers such as Minecraft and Roblox by giving creators actual ownership of their work in the form of non-fungible tokens (NFTs) and rewarding them for their contributions to the ecosystem.
The Sandbox is a decentralized, community-based, Blockchain platform that promises to benefit its members by offering:
- True Digital Ownership — If a game is shut down, players will be the sole owners of their in-game digital items.
- Asset Tradability — Every in-game object will be tokenized as a non-fungible token, allowing it to be freely traded on marketplaces.
- Interoperability across applications — A Blockchain network allows games to share assets. These in-game items would not be restricted to a certain ecology.
The history of Sandbox is here.
A Content Ecosystem that is User-Generated
The Sandbox blockchain gaming platform is made up of three products that work together to deliver a complete user-generated content (UGC) production experience. Users will profit even more from the merged goods because they will be able to ensure copyright ownership for their user-created material using smart contracts and blockchain.
- VoxEdit: VoxEdit refers to a free 3D voxel modeling and NFT creation application for PC/Mac that lets users design and animate 3D objects like people, animals, cars, greenery, tools, and stuff. Voxels, which are square 3D pixels that look like building blocks, maybe edited with VoxEdit to achieve stunning results quickly. Objects may export from VoxEdit into The marketplace of The Sandbox to become NFT game ASSETS once they've been produced.
- Marketplace: Users can upload, publish, and sell their VoxEdit-created NFT creations on The Sandbox's NFT marketplace. To provide decentralized storage, creations are first uploaded to an IPFS network and then registered onto the Blockchain to verify ownership. Once this is done, creations turn into ASSETS that can be sold by posting a first sale offer on the marketplace for potential purchasers to purchase.
- Game Maker: The Sandbox game maker is a free tool that allows anyone to create fantastic 3D games. Accessible visual scripting tools eliminate the need for coding, allowing you to build spectacular 3D games in minutes. Creators also help to build a large metaverse full of incredible interactive creations and experiences.
- SandBox Avatar: Another element of the ecosystem is the avatar, which is a voxel depiction of a player in-game. Avatars can be pieced together by their owners (such as helmets, arms, torso, legs, etc). To create a unique look, an avatar user can experiment with numerous costumes, haircuts, and colors. People may also socialize with the platform's large community of The Sandbox Players. Various items in the marketplace can be used to improve avatar's abilities.
Blockchain-based Gaming Platform
To establish a circular economy amongst all types of users who will interact with the platform: gamers, artists, curators, and landowners, The Sandbox employs a variety of token types.
- SAND: The Sandbox's ERC-20 token serves as the foundation for all activities and interactions in the ecosystem.
- LAND: In The Sandbox metaverse, LAND is a digital piece of real estate. Players purchase LAND intending to fill it with games, assets, and interactive experiences. Each LAND is a one-of-a-kind (non-fungible token) that exists on the Ethereum network (ERC-721).
- ASSETS: These are a type of token created by gamers that create/assemble user-generated content (UGC). ASSETS are based on the ERC-1155 standard and can be exchanged on the market. Their main purpose is to be used as building blocks in The Sandbox game maker.
NFTs (non-fungible tokens) are digital scarcity, security, and authenticity tokens. They are one-of-a-kind, indivisible, and non-transferable.
In The Sandbox metaverse, a LAND is a digital piece of real estate that users can purchase to create interactive experiences. You can populate a LAND with Games and Assets once you control it. Each LAND is a one-of-a-kind (non-fungible) token that exists on the Ethereum network (ERC-721).
Within The Sandbox, there will be a maximum of 166,464 LANDS, each housed within a map that makes up The Sandbox metaverse. On The Sandbox map, there are two different parcel types:
- LAND: The map's most basic Sandbox unit. Each LAND in the game world is 96 by 96 meters, which is just big enough to support a variety of blockchain game experiences while not being too big to be unmanageable by a single individual.
- ESTATE: An ESTATE is made up of several LANDS. This is where groups of creators may get together to create larger, more immersive online experiences.
The Sandbox metaverse's epicenter is LAND. You'll be able to play and create games, earn tokens, organize contests, and much more with them!
Here is more about the presale rounds of LAND:
- Round 1 – Took place in December 2019 when 3,096 LANDS sold out, constituting the volume of 546 ETH.
- Round 2 – Took place in February 2020 when 6,192 LANDS sold out, constituting the volume of 850 ETH.
- Round 3 – Took place in March 2020 when 12,384 LANDS sold out, constituting the volume of 3,400 ETH.
- Round 3.5 – Took place in June 2020 when 7,254 LANDS sold out, constituting the volume of 1,081 ETH.
- Round 4.1 - Took place in August 2020 when 6,516 LANDS sold out, constituting the volume of 650.99 ETH.
SAND is the main component of The Sandbox platform, debuted on August 2020 on Binance’s trading platform. The Sandbox focuses on building the essential mechanics relating the SAND and its value to The Sandbox platform. SAND, the Ethereum-based ERC-20 utility token will eventually be utilized for transactions within The Sandbox. It has the following applications.
- Access: This platform of Sandbox lets the players spend SAND on games and customizing their Avatars. SAND is also utilized by creators for purchasing the LANDS, ASSETS, and stakes. Demand for SAND for acquiring the LANDS will be driven by the sales of LAND. Artists will then utilize the SAND to upload ASSETS to the Marketplace and they can also purchase Gems for defining Rarity and Scarcity.
- Governance: SAND, a governance token, lets the holders take part in platform governance decisions via a DAO structure. They can vote on some vital issues including the Foundation grant attributions to the game developers and the content developers, as well as feature prioritization on the platform roadmap. SAND owners can vote for themselves or assign the voting privileges to some other players.
- Staking: SAND lets the users do staking, thus generating passive revenue on LANDS. By staking it, you acquire some additional SAND. This is also the only way for obtaining some costlier Catalysts and Gems, required for creating the ASSETs.
- Fee Capture Model: 5% of all SAND token transaction volume (Transaction Fees) will be levied, with 50% of the money going to the Staking Pool as a reward for token holders that stake SAND tokens, and 50% going to the "Foundation."
- Foundation: The mission of The Sandbox Foundation is the promotion of the platform's ecosystem by offering grants for encouraging the creation of high-quality interactive games as well as the content. Till now, the Foundation funded more than 15 game projects and offered 100+ artists the opportunity of the creation of NFTs before the public premiere. The Foundation's total valuation of the metaverse will rise due to the Foundation's valuation of all games sponsored, thus creating a virtuous circle that will let it support increasingly bigger games and experiences.
Sandbox Ecosystem’s Tokenomics
The Sandbox ecosystem uses a variety of tokens to provide an environment for tokenized assets in gaming. SAND refers to an ERC-20 token underpinning all transactions and interactions in the ecosystem. Playing games, purchasing equipment, and customizing your avatar, for example, all cost SAND tokens. When The Sandbox DAO (decentralized autonomous organization) is founded, SAND also serves as a governance token, allowing its holders to have input on changes to the ecosystem.
SAND can also be utilized to buy LANDS and ASSETS, the digital pieces of real estate that the ERC-721 tokens represent, and those are non-fungible tokens. Players can house the ASSETS as well as the games on their LANDS, digital space of 96x96 meters. There will only ever be 166,464 LAND parcels. An Estate is created when a player merges many LANDS into a single property.
Finally, SAND tokens, also the Catalysts and Gems— two other token types required for the creation of ASSET— can be staked for obtaining more SAND. Catalysts are the ERC-20 tokens establishing your ASSETS' scarcity and tier. The tiers range from "common" to "legendary," with legendary ASSETS being the rarest while the common being commonly available. Gems refer to the ERC-20 tokens. Gems can be purchased from other players in addition to being earned via staking SAND.
The Sandbox pays for the expenses of Ethereum gas on behalf of players, thus offering a smoother user experience. In addition, The Sandbox Foundation receives 50% of the SAND token transaction volume, which it uses to support the ecosystem by sponsoring grants and promoting the platform.
How do creators generate revenue from The Sandbox?
- Creating the Voxel ASSETS: Use Voxedit for creating the ASSETS, then import and sell them over the marketplace as NFTs.
- Creating your games using the Game Maker: Using your LANDS, you get to create and monetize some unique games and interactive experiences via Game Maker.
- LAND ownership: During one of the LAND Sales, you can purchase a parcel of land. Increase their value by renting them or filling them with content!
Game Makers Fund
The 2 million Dollar game maker fund was launched in October 2019 to assist selected creators in creating, sharing, and monetizing fantastic games on The Sandbox gaming platform. This fund is overseen by the foundation's DAO, whose mission is to promote The Sandbox ecosystem by administering grant opportunities to stimulate high-quality content and game development for The Sandbox. 15+ gaming projects are currently in development with the Foundation's backing, including Square Enix license-based games and ATARI.
The Foundation's overall valuation of the metaverse will increase as a result of the Foundation's valuation of all games supported, creating a virtuous circle that allows for the funding of increasingly greater games and experiences.
The following are the key advantages of being a creator supported by the Game Makers Fund:
- Free top exposure for The Sandbox games, one of the most anticipated online PC games of 2020, and the Number 1 Blockchain game!
- Keep complete ownership and copyright to your games.
- Create your games with the thousands of voxel assets and visual programming available.
- Within the world's largest online voxel Metaverse, you can get free LAND chunks.
- Reach out to an ever-expanding community of artists and players and influence them.
- Use our cryptocurrency SAND to monetize your content.
- On our marketplace, you may sell and trade your games and assets.
- Become a member of our Game Maker community and contribute to the shaping of the future of online gaming.
Sandbox Platform’s Revenue Generation
The Sandbox team has identified the following five revenue streams to assist with platform management and growth:
- Land sales - Sandbox has started selling LAND chunks in auctions, which has brought in money for the site.
- Corporation NFT Sales — In addition to the NFTs developed by individual artists, the company also has its in-house NFT that can be purchased on the marketplace.
- Player Subscriptions and Services — To provide players with access to exclusive in-game features and premium assets, the company would charge subscription fees and other service costs.
- Transaction Fee - The Sandbox would levy a 5% transaction fee on all transactions conducted on the site. As a result, transaction fees will become the principal source of revenue as the platform's popularity grows.
- Advertising Revenue - Businesses will be able to use The Sandbox platform to market their products or services, and the platform will charge a fee for these services.
- Partnerships - The Sandbox has several well-known partners, including Binance, Polygon Network, Harmony Network, Kyber Network, Dapp, Atari, Axie Infinity, CryptoKitties, The Smurfs, Square Enix, Shaun the Sheep, Care Bears, The Walking Dead, Roller Coaster Tycoon World, and many more
Do you wish to know more about The Sandbox? Continue reading here.
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