The Sandbox, Monetizable Ethereum-Based Metaverse
Tokenized Assets for Gaming Ecosystems.
The Sandbox is a decentralized, community-driven virtual world where creators can design, share, and sell in-world assets. The Sandbox metaverse is one of several blockchain-based virtual worlds attempting to change the dynamics of the gaming market and reward creators for the value they produce through user-generated content.
By providing an ecosystem for tokenized assets in gaming, The Sandbox ecosystem makes use of several different tokens. SAND is an ERC-20 token that powers all of the ecosystem’s transactions and interactions. For example, it costs SAND tokens to play games, purchase equipment, or customize your avatar. In the future, SAND will also serve as a governance token, allowing its holders to have input on changes to the ecosystem when The Sandbox DAO (decentralized autonomous organization) is established.
SAND can also be used to purchase ASSETS and LANDS, digital pieces of real estate which are represented by ERC-721 tokens, which are NFTs. Players can use their LANDS, a 96x96 meter digital plot, to house games and ASSETS. Only 166,464 LAND plots will ever exist. When a player combines multiple LANDS into one property, it is called an Estate.
Finally, SAND tokens can be staked to acquire more SAND, as well as Gems and Catalysts — two further types of tokens which are required for ASSET creation. Catalysts are ERC-20 tokens that define the “tier” and scarcity of your ASSETS. Tiers range from “common” to “legendary,” with common ASSETS being the least scarce and legendary ASSETS being the most scarce. Gems are ERC-20 tokens and are burned when used. In addition to being acquired via the staking of SAND, Gems can be purchased from other players.