The Sandbox Price

What Is The Sandbox (SAND)?

SAND is the utility token of The Sandbox, a unique blockchain-based virtual world where users can build, own and monetize gaming experiences. Essentially the crypto equivalent of Minecraft, The Sandbox is a metaverse where users can traverse a virtual landscape using avatars and interact with assets represented by non-fungible tokens (NFTs).

The Sandbox takes the concept of popular real estate metaverse projects like Decentraland and Bloktopia further by allowing its users to create fully customized games that they can monetize. Through this unique user-generated content (UGC) gaming concept, it’s managed to capture a corner of the gaming metaverse market and has received investments from the likes of Gucci, Snoop Dogg, HSBC and more.

What Is SAND Used For?

As the utility currency of The Sandbox, SAND has several uses. It’s used in game transactions, as governance to vote for changes in the platform road map, and for staking.

In The Sandbox game, SAND tokens are used to transact two core NFT assets offered by The Sandbox: ASSETS and LAND. ASSET creators can publish their items on The Sandbox Marketplace, where they can be traded for SAND. Meanwhile, LAND owners can monetize their assets by either creating games on their LAND and charging players SAND to play, or renting their LAND to players and game creators.

The Sandbox Price and Tokenomics

The Sandbox price reached an all-time high of $8.44 during the peak of the bull run in 2021. SAND price has failed to maintain that momentum during the crypto winter of 2022, but the token hasn’t gone back to its all-time November 2020 low of $0.02.

The Sandbox’s native currency has a max (and total) supply of 3 billion tokens, with a circulating supply of 1.43 billion tokens as of August 2022.

The Sandbox token supply is distributed as follows:

• 25.82% — Company Reserve
• 19% — Team
• 17.18% — Seed Sale
• 12% — Foundation
• 12% — Binance Launchpad Sale
• 10% — Advisers
• 4% — Strategic Sale

Who Is the Founder of The Sandbox?

The Sandbox was co-founded by Arthur Madrid, CEO of the company, and Sébastien Borget, who is the COO. It was originally launched in 2011 as an open-world mobile game, similar to Minecraft, that uses voxel graphics. Following its worldwide popularity, The Sandbox Alpha metaverse was then launched in November 2021.

The Sandbox was acquired in 2018 by NFT-gaming giant Animoca Brands, the creator of Axie Infinity. Animoca announced its plan to bring The Sandbox to the Ethereum blockchain to solve some key problems with mainstream gaming, such as the lack of true ownership of in-game assets and a free, open market economy for players and creators without the influence of centralized institutions.

The project’s goal is to create a fun and creative play-to-earn gaming platform that’s completely owned by players. Users can design and edit unique custom digital assets using the VoxEdit tool and GameMaker. These creations can then be used to create interactive gaming experiences on The Sandbox’s traversable virtual reality world. Users can also trade their creations on an in-game marketplace in exchange for SAND.

The Sandbox has managed to secure numerous partnerships with gaming industry titans such as Square Enix and Atari. It has also secured some big Hollywood intellectual properties (IPs), including Gordon Ramsay’s Hell’s Kitchen, The Walking Dead, The Smurfs and Care Bears.

How Does The Sandbox Work?

The Sandbox has two core tools that make it possible for users to create in-game assets and gaming experiences in the metaverse. They are:

VoxEdit

The Sandbox team has released voxel-editing software called VoxEdit that enables artists and players to create ASSETs for The Sandbox’s metaverse. VoxEdit is the building block of all ASSETs on The Sandbox. It can be used for 3D modeling, animation and NFT creation.

Artists can use the modeling function to create voxel assets, and then rig them with animations using the animation function. Once an artist is satisfied with their creation, they can choose to mint the asset into an NFT using VoxEdit.

GameMaker

GameMaker is a core part of The Sandbox’s ecosystem. It’s a no-code development tool that enables game creators and gamers to test and publish a variety of game experiences. Users can use GameMaker to customize ASSETs on a piece of LAND via visual scripting nodes to create a fully immersive gaming experience.

What Makes The Sandbox Unique?

Decentralized User-Generated Content (USG)

All in-game assets on The Sandbox platform are represented by NFTs to ensure secure true ownership for players and collectors. The VoxEdit and GameMaker tools enable users to easily turn their creations into NFTs and 3D games, and to publish them in the metaverse. Users completely own their assets, and are free to monetize them however they wish in The Sandbox Marketplace or external NFT marketplaces, such as OpenSea.

The Sandbox Funds

The Sandbox Foundation supports the community with two funds, the Creator Fund and the Game Maker Fund, to encourage creations within the platform. The Creator Fund supports artists by incentivizing them to create high-quality ASSETs for the metaverse. The Game Maker Fund supports game designers by financing and promoting their projects to generate innovative games in The Sandbox.

Staking

The Sandbox launched a liquidity mining program in 2020 in which SAND tokens can be staked for various incentives, including yield multiplier rewards and exclusive NFTs. First introduced as a SAND/ETH staking program carried out on Uniswap, it was discontinued in February 2022 and replaced with a Polygon staking program conducted through the Polygon bridge for its lower gas fees. The new Polygon liquidity providing program includes SAND-only staking, mSAND staking and mSAND/MATIC staking.

How to Store SAND

SAND is an ERC-20 token, which means it can be stored in any crypto wallet that supports that token standard. Some popular storage options for SAND include MetaMask, Trust Wallet, Atomic Wallet, Ledger Nano S and others.

Where to Buy The Sandbox (SAND)

You can buy SAND crypto tokens from any top crypto exchange, including Bybit.

How to Buy The Sandbox (SAND) on Bybit

To purchase SAND on the Bybit exchange, follow these simple steps:

1. Head to Bybit’s spot trading page (Home → Trade → Spot Trading).
2. Select the trading pair on the left side of the page. You can trade SAND with USDT (SAND/USDT), USDC (SAND/USDC) and BTC (SAND/BTC).
3. Choose the type of order you’d like: Limit Order, Market Order or Conditional Order.

For Limit Orders:

1. Select Limit.
2. Enter the order price.
3. Enter the number of SAND you wish to buy.
4. Click on Buy SAND.
5. Once you’ve confirmed your information is correct, click on Buy SAND.
6. View your order details under Active on the web page, or Orders if you’re using the Bybit app.

For Market Orders:

1. Select Market.
2. Enter the amount of USDT/USDC/BTC you’ve paid to buy SAND.
3. Click on Buy SAND.
4. Once you’ve confirmed your information is correct, click on Buy SAND.
5. View your order details under Filled.

For Conditional Orders:

1. Select Conditional.
2. Enter the trigger price.
3. Choose to execute at Market Price or Limit Price.
   1. Market Price: Order price doesn’t need to be set.
   2. Limit Price: Order price needs to be set.
4. According to order types:
   1. Market Buy: Enter the amount of USDT/USDC/BTC you’ve paid to buy SAND .
   2. Limit Buy: Enter the number of SAND you want to buy.
5. Click on Buy SAND.
6. Once you’ve confirmed your information is correct, click on Buy SAND.
7. View your order details under Conditional on the web page, or All Orders → Current Orders on the Bybit app.

For more help, visit the Bybit spot trading guide.