What is The Sandbox (SAND)
The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences in the Ethereum blockchain using SAND, the platform’s utility token.
Our vision is to offer a deeply immersive metaverse in which players will create virtual worlds and games collaboratively and without central authority. We are aiming to disrupt the existing game makers like Minecraft and Roblox by providing creators true ownership of their creations as non-fungible tokens (NFTs) and rewarding their participation with our utility token – SAND.
In the current game market, the centralized ownership and control of user-generated content limits creator rights and ownership. Central control over the trading of virtual goods created by players restricts them from generating fair value for their creations. Compounding this, it can be difficult to prove creative ownership of works, especially as content is copied, altered, and built upon.
With The Sandbox, we aim to overcome these limitations while accelerating blockchain adoption to grow the blockchain gaming market. We will do this by building a voxel gaming platform where creators are able to craft, play, share, collect, and trade without central control, enjoying secure copyright ownership with the ability to earn cryptocurrency (SAND). This copyright ownership will be established and guaranteed through the use of NFTs, where every in-game item will have a unique and immutable blockchain identifier.
SAND is an essential part of The Sandbox platform and The Sandbox are working on establishing key mechanics that makes it intrinsically tied to The Sandbox platform and its value. SAND is an ERC-20 utility token built on the Ethereum blockchain that serves as the basis for transactions within The Sandbox, and has the following uses:
- Access The Sandbox platform: Players spend SAND in order to play games, buy equipment, or customize their Avatar character—and can potentially collect SAND through gameplay. Creators spend SAND to acquire ASSETS, LANDS, and through Staking. LAND Sales drive demand for SAND to purchase LANDS. Artists spend SAND to upload ASSETS to the Marketplace and buy Gems for defining Rarity and Scarcity.
- Governance: SAND is a governance token that allows holders to participate in Governance decisions of the platform, using a DAO structure. They can exercise voting rights on key elements such as Foundation grant attributions to content and game creators and feature prioritisation on the platform Roadmap. SAND owners can vote themselves or delegate voting rights to other players of their choice.
- Staking: SAND allows for staking, which allows for passive revenues on LANDS: you get more SAND by staking it. This is also the only way to get valuable Gems and Catalysts, needed for ASSET creation.
- Fee Capture model = 5% of all transaction volume carried out in SAND tokens (Transaction Fees) shall be allocated with 50% to the Staking Pool as rewards for token holders that Stake SAND tokens and 50% to the ”Foundation.”
- Foundation: The role of the Foundation is to support the ecosystem of The Sandbox, offering grants to incentivize high quality content & game production on the platform. To date, the Foundation has funded over 15 game projects and granted 100 artists to produce NFTs ahead of the public Launch in December 2020. The overall valuation of the metaverse grows through the valuation of all games funded by the Foundation, creating a virtuous circle to enable funding bigger games.
IEO (HitBTC Launchpad): Mar 24, 2021 – Mar 31, 2021
IEO (Binance Launchpad): Aug 06, 2020 – Aug 12, 2020
Token supply: 3,000,000,000 SAND
Total tokens for sale: 360,000,000 SAND
Hard cap: 3,000,000 USD
Blockchain Platform: Ethereum
Office address: Ground Place, Church Street, St. Julians STJ 3049, Malta
Registration country: Malta
Token standard: ERC20
Token price in USD: 1 SAND = 0.008333 USD
52.31% – Team
27.69% – Development
15.38% – Marketing
4.62% – Administrative
12 % – Launchpad
17.18% – Seed Sale
4% – Strategic Sale
12% – Foundation
19% – Team
10% – Advisors
25.82% – Company Reserve