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BackAn Instrumental Token In the Metaverse Economics
Coinmetro has landed in the Metaverse! Welcome SAND – the native token of The Sandbox platform – the digital creator’s native Web3 space. The Sandbox is a unique virtual world where players can build, own and monetize their gaming experience.
The decentralized metaverse offers players the ability to create virtual worlds and games without a central authority. By utilizing the power of decentralization and offering true ownership through the creation of non-fungible tokens (NFTs), players have the opportunity to generate fair value for their creations.
Our first Metaverse token will be offering new means for traders, investors, gamers and creators to monetize their output, trade virtual assets and play games to earn money.
Week 3 / 15 Weeks of Summer: Play, Create & Monetize
Our week 3 of “15 Weeks of Summer” is a strong incentive for everybody to monetize play and creativity! For this, The Sandbox environment offers three key components:
- Voxedit: tool to create objects such as people and animals to be exported to the Sandbox marketplace where they become assets.
- Marketplace: allows users to upload, publish and sell their assets made in Voxedit, as Tokens.
- Gamemaker: anyone who owns assets can utilize them with the Game Maker and the Game itself. The Game Maker allows users to place and use their assets on a piece of land, which can be traded as virtual real-estate.
New Trading Pairs: SAND/USD and SAND/EUR
Native Token SAND – Utility & Purposes
SAND is the native utility token of The Sandbox platform and an essential part of its ecosystem. It is an ERC-20 token built on the Ethereum blockchain that serves as the basis for transactions on the platform. It can be used for the following purposes:
- Access Sandbox Platform: SAND can be bought or collected through gameplay. It is spent by players in order to play games, buy equipment or customize an avatar. It is spent by creators in order to buy assets or land.
- Governance: SAND is a governance token that allows users to participate in Governance decisions on the platform, making use of a Decentralized Autonomous Organization (DAO) structure. SAND owners therefore get voting rights that can be used for various things like feature prioritizations on the roadmap.
- Staking: passive revenue on lands by staking SAND: you earn more SAND by staking it. Only through staking one can acquire Gems and Catalysts, which are needed for asset creation.
- Fee Capture Model: a percentage of all transaction volume carried out in SAND tokens is allocated to the Staking Pool. Another percentage is allocated to the ‘Foundation’.
- The Foundation: supports the ecosystem of the Sandbox through various means. The overall valuation of the metaverse grows through the valuation of all games funded by the Foundation.
A Digital Native Utopia
Through the use of ERC-1776, The Sandbox allows platform users to initiate transactions on the Ethereum blockchain while transaction gas fees are paid by the platform, optimizing overall user experience. Half of all SAND transactions collected from LAND sales, Premium NFT sales, transaction fees and subscription services goes to the Foundation.
The Foundation supports the ecosystem of The Sandbox, contributing to the growth of awareness about NFTs, the Metaverse, and SAND token. The Foundation is currently involved with:
- Managing the Game Makers Fund and Creators Fund, offering grants to incentivize high quality content and game production in The Sandbox.
- Funding over 17 game projects.
- Distributing grants to 100 artists to produce NFTs.
- Sponsoring prizes for the various contests organized by The Sandbox team to stimulate the creativity of users around the world.
- Supporting play-to-earn tournaments and cross-gaming with activities that encourage the broader adoption of SAND.
Empowering Creators
In The Sandbox platform, the lines between being a gamer, creator, trader and investor merge beautifully. We have listed SAND token on Coinmetro Exchange to offer users new means for expressing themselves both creatively and financially. Every corner of The Sandbox Metaverse will catch your attention as you immerse yourself in this multi-faceted Web3 community. Find an empty LAND yourself and start creating your own virtual corner. Populate it with games and assets and invite friends to join the adventure. Play games and learn to monetize your time spent in The Sandbox. Wander for a while and you will find out that getting lost in this happy virtual world can be a profitable endeavor indeed.
To find out more about SAND and other recently listed assets, join the ever-growing Coinmetro community on Discord and Telegram. To begin your trading and investing journey today, take action now and sign up to our platform in just a few steps.