1. Sandbox is a metaverse where people monetize their gaming experience.
2. Gamers can create digital assets which they can trade on the marketplace.
3. The Game Maker feature enables users to create and edit 3D games without using any advanced skills.
4. LAND, GEMS and CATALYSTS are key virtual assets existing in the Sandbox ecosystem.
5. SAND is the utility token which people use to pay for various services and assets in the Sandbox gaming platform.
Sandbox, a virtual metaverse, is a gaming platform that allows gamers to monetize their gaming experience, as they can create and own various digital assets. Built on the ethereum blockchain, Sandbox is a community centric protocol which enables people to have fun by playing games and at the same time earning from their gaming experience. Basically, Sandbox has three products integrated to create a lasting impression and experience for the users, who can create and own their content.
The content can be in the form of digital assets which exist as non-fungible tokens (NFTs). Specifically, the content creators can create and upload in-game assets onto the marketplace as well as integrating them into games using the Game Maker, which is one of the important products which Sandbox offers. Let’s explore these three products in detail.
VoxEdit is a free 3 D voxel modelling and NFT creation feature, which creators can use to develop 3D objects. They can create tools, animals, humans and other assets which can be sold, thereby generating income.
Content creators can easily upload and publish their in-game items in the form of NFTs. Once the users register their creations, they can make initial offerings on the Sandbox marketplace. With that done, investors and other gamers can buy, own and sell these assets.
The sandbox game maker enables content creators to develop their own 3D games for free. Interestingly, there is no need for complicated skills such as coding in order to do this. In fact, ordinary gamers can create their games in a very short time, enhancing their potential to generate much revenue.
Sandbox has a variety of in-game assets which the users can trade at any time. These assets create value for the entire metaverse and community. Examples of the assets include LAND, Gems and Catalysts.
LAND is the central asset in the Sandbox metaverse which people can acquire and own in order to create their digital assets. In fact, LAND is a virtual real estate where people build their experiences. It is in the LAND that people populate various digital assets and games. People can create anything they want within this virtual real-estate, LAND. Notably, Sandbox will have a total of 166 464 LANDS, with each one measuring 96 metres by 96 metres. This land is represented by a unique ERC 721 token existing on the ethereum blockchain. Apart from filling the LAND with digital assets and games, individuals can rent it.
An ESTATE is an aggregation of several LANDs which are adjacent to each other. The content creators who want to develop many assets and games buy and own ESTATES. This helps people to have greater immersive experiences than they have within the LAND.
GEMS and CATALYSTS
Jointly, GEMs and CATALYSTs are internal assets which define the tier and scarcity of the various assets within the Sandbox ecosystem. The quality of the CATALYST influences the number of sockets available for a creator to develop his/her assets. Like other assets, people trade these CATALYSTs in the marketplace.
There are several types of tokens which circulate among the Sandbox users. These include SAND, LAND and ASSETS.
The SAND is the Sandbox’s ERC20 utility token. This means that the users use SAND to make various internal transactions. For example, people spend their SAND to play games, purchase in-game assets such as LAND and ESTATE. Also, content creators spend SAND in order to publish their creations in the marketplace.
In addition, users can also stake SAND and earn interest on that. Basically, staking is one of the safest types of investment you can make in the crypto sector. When you stake SAND, you earn more SAND, GEMs and CATALYSTs.
In addition, SAND is also the governance token for Sandbox. This means that holders of SAND have the right to vote on developmental issues.
How Gate.io is involved in Sandbox products
First, Gate.io provides a market for the SAND token. The SAND token is listed for spot trading, meaning that people can easily buy and sell it. It trades against cryptocurrencies like USDT, USD and ETH.
Second, SAND is among the assets trading under futures on the Gate.io trading platform. The futures’ market enables people to gain exposure to the SAND token without actually holding it. The SAND is paired with USDT in the futures’ market at Gate.io. It is also trading under exchange traded funds. The current pairs are SAND3L- USDT and SAND3S-USDT.
The SAND is also part of the crypto lending portfolio of Gate.io. The other products where we have the SAND token are margin borrowing, crypto loan and liquidity mining.
The Sandbox NFT, LAND is listed under the Gate.io NFT MagicBox, a centralized marketplace, composed of the Pioneer Creation platform and an Auction platform. This trading platform integrates the top NFT platforms such as OpenSea, Sorare and CryptoArt. These top notch NFT platforms, apart from Gate.io’s reputation, attract many people to buy and sell their NFTs at NFT MagicBox.
Sandbox offers people around the world the opportunity to monetize their gaming experience. The gamers can earn in-game assets like GEMs, CATALYST LAND as well as its utility token SAND. On the other hand, Gate.io provides a market for LAND and SAND
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Author: Mashell. C
, Gate.io Researcher
This article represents only the views of the researcher and does not constitute any investment suggestions.
Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
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