The Sandbox is a metaverse and gaming ecosystem based on the Ethereum blockchain, offering users the ability to create, share, and monetize assets and gaming experiences within its virtual world. Developed by Pixowl, The Sandbox aims to revolutionize the traditional gaming industry, where platforms typically retain control over user-generated content, limiting the rights of creators and gamers. In contrast, The Sandbox grants users complete ownership of their in-world creations.
The Sandbox is made up of three products:
VoxEdit allows users to design and animate 3D objects, including characters, animals, tools, and other items, referred to as ASSETS. These ASSETS use the ERC-1155 token standard, enabling the creation of both fungible and non-fungible tokens (NFTs) through a single smart contract.
The Sandbox Marketplace serves as a platform for users to publish and sell their ASSETS after uploading them to the InterPlanetary File System (IPFS).
- The Sandbox Game Maker enables users to create 3D games without the need for coding knowledge, expanding the realm of possibilities for online gaming experiences.
Tokenomics of The Sandbox Ecosystem
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 serves as the primary currency for all activities within The Sandbox. Players use SAND to play games, buy equipment, and customize their avatars. In the future, SAND will also function as a governance token, granting holders a say in ecosystem changes once The Sandbox DAO (decentralized autonomous organization) is established.
LANDS are digital plots of real estate, represented by ERC-721 NFT tokens, that users can purchase using SAND. These 96x96 meter plots can be utilized to host games and house ASSETS. The number of LAND plots is capped at 166,464, and combining multiple LANDS forms an Estate.
Gems and Catalysts are additional tokens required for ASSET creation. Catalysts, also ERC-20 tokens, determine the "tier" and rarity of ASSETS, ranging from "common" to "legendary." Gems, another ERC-20 token, are consumed during usage. Users can stake SAND to acquire more SAND, Gems, and Catalysts. Gems can also be obtained through purchases from other players.
To enhance user experience, The Sandbox covers Ethereum gas fees on behalf of players. Moreover, 50% of the transaction volume of SAND tokens goes to The Sandbox Foundation, which supports the ecosystem by funding grants and promoting the platform's growth.
How to Generate Revenue in The Sandbox
Generating revenue in The Sandbox involves various avenues. Users can create ASSETS with VoxEdit and sell them as NFTs on The Sandbox Marketplace, with prices varying widely depending on the ASSET's type and rarity. Alternatively, users can monetize their own games created with The Sandbox Game Maker or earn rewards by participating in other users' games. Additionally, revenue can be earned from LAND by renting it to other players or enhancing its value through content creation.
The Sandbox, along with other crypto metaverses, seeks to redefine the relationship between creators, gamers, and gaming platforms. By empowering players to retain ownership of their creative work and rewarding them for the value they bring to the platform, The Sandbox and its peers are driving innovation in the gaming market.