What is The Sandbox (SAND)?
Originated in 2011, The Sandbox is one of the very first blockchain-based games. A virtual world concept that combines NFTs, DAOs, and a blockchain ecosystem, The Sandbox was a pioneer in the world of decentralized gaming platforms. Launched by Pixowl with a mission to introduce blockchain technology into mainstream gaming, The Sandbox adopted a “play-to-earn” model which allows users to be both players and creators simultaneously. SAND is an ERC-20 governance token that allows holders to take part in the organization and governance of The Sandbox protocol.
What makes it unique?
Started in 2011, an early pioneer in the world of blockchain-based gaming services;
Described in their whitepaper as “a virtual world where players can build, own, and monetize their gaming experiences”;
Built on top of the Ethereum blockchain, it inherits the network’s security in its utility token: SAND;
Focuses on user-generated content, allowing players to build and own what they create in-game;
One of the first projects to focus on metaverse gaming, The Sandbox has recently found renewed support in the rise in popularity of NFTs as gaming assets.
A very adopter in the world of blockchain gaming, play-to-earn models, and NFTs as a form of owning in-game assets, The Sandbox has paved the way for what we know today as the metaverse. In August 2020 The Sandbox had an Initial Coin Offering to raise funds for the project, raising 3M dollars to fund its future operations. In late 2021 The Sandbox raised an additional $93M in a Series B funding round to help grow the operation, reach new players and expand further into the emerging world of Web3 development. Around the same time, SAND experienced a significant bullish rally, reaching a new ATH in late November. It has a supply cap of 3,000,000,000 SAND coins and a circulating supply of just over 1 billion SAND.