The Sandbox is a virtual world that allows users to create, own, and monetise their gaming experiences and virtual assets. Initially launched as a traditional game, The Sandbox transitioned to a blockchain-based platform in 2018, enabling players to use and trade virtual assets in a decentralised environment.
Who created The Sandbox?
The Sandbox was created by Arthur Madrid and Sebastien Borget, who initially developed it as a mobile game in 2011. The game’s success led them to explore blockchain technology as a way of enhancing the user experience and providing players with greater ownership of their virtual assets. In 2018, they launched The Sandbox as a blockchain-based platform, incorporating Non-Fungible Tokens (NFTs) and smart contracts to enable a decentralised virtual economy.
How does The Sandbox work?
Users can create, own, and trade virtual assets using blockchain technology. The platform utilises the Ethereum blockchain to store and transact digital assets as NFTs, allowing players to buy, sell, and trade virtual land, items, and experiences.
What is LAND in The Sandbox?
The Sandbox Metaverse is made up of LAND, with each unit of LAND a part of the world that’s owned by players. Similar to the real world, players can build on their LAND to create and monetise experiences by hosting games, developing multiplayer experiences, creating housing, and offering social experiences to the community. Each LAND is an NFT. There will only ever be 166,464 LANDS available, which can be used to host games, build multiplayer experiences, create housing, or offer social experiences to the community. You can build and create whatever you want with the free VoxEdit and Game Maker tools that The Sandbox provides.
What is the native cryptocurrency of The Sandbox?
The native cryptocurrency of The Sandbox is SAND. It is used as the primary currency within the platform, facilitating transactions, governance, and staking. SAND enables users to buy LAND, trade virtual assets, and participate in the governance of The Sandbox ecosystem. LAND owners can also receive SAND rewards based on the amount and period of owning LANDs.
Tip
Are you keen to explore The Sandbox a bit more? You can learn about SAND basics and get all the latest cryptocurrency news on Luno Discover.
Want to know how to buy, sell, receive or send SAND? We’ve got answers in the following help articles:
This information is not intended to be nor does it constitute financial, tax, legal, investment or other advice; nor is it a call to trade. The information is intended as general market commentary for information purposes only. Before making any decision or taking any action regarding your finances, you should consult a qualified Financial Advisor.