What Is SAND Token by the Sandbox Game?
di LCX Team · August 27, 2021
SAND is a decentralised cryptocurrency based on the ethereum blockchain. SAND is a utility token of The Sandbox ecosystem which is used to reward players.…
Trade $SAND at LCX Exchange
Sign InSandbox also has an NFT mechanism where players can own their creations using non-fungible tokens (NFTs). The Sandbox ecosystem uses an ERC-20 utility token called SAND for transactions. SAND is the backbone of the gaming platform since it adds value to the game by including DeFi elements.
Who Created The Sandbox ($SAND) ?
Sébastien Borget is the co-founder and COO of The Sandbox. Pixowl which is headed by Sébastian Borget and Arthur Madrid and game developer onimatrix collaborated on the creation of The Sandbox, which was released as a mobile game in early 2012. Pixowl was later acquired by Animoca in 2018, and the firm announced its plans to create a 3D sandbox-style world using blockchain technology to introduce user-generated content (UGC) and token economics.
In August 2020, the Sandbox team staged an initial coin offering (ICO) to raise $3 million to fund its future operations.
How $SAND Works?
The Ethereum blockchain is used by the Sandbox software to track ownership of digital LAND and NFT ASSETS on its platform. Users can interact with the ecosystem even more by storing SAND tokens in Ethereum wallets.
The gaming platform is built on three key in-game features that work together to create a complete and user-friendly gaming environment.
- VoxEDIT – A 3D voxel modelling programme for creating and animating humans, objects, animals, and foliage. After that, the user can export the created products to an in-game marketplace, where they will become game ASSETS.
- Game Maker – It uses visual scripting tools to create aesthetically appealing games in lesser time, allowing users to make great 3D games for free without needing to know how to code. The game allows players to place and use their ASSETS within pieces of LAND (ERC-721 tokens) that they can own in the virtual environment when they are in Game Maker mode.
- MARKETPLACE – This decentralised marketplace allows users to display and sell their VoxEdit products or assets as tokens (Both ERC-721 and ERC-1155 tokens).
Benefits of $SAND
- Access – The token is used and spent by players to gain access to in-game features. Users can spend SAND to play games, purchase equipment, and customise their in-game Avatar character.
- Staking – Staking the token allows players to earn additional SAND, allowing them to earn passive income on LANDS.
- Governance – SAND holds governance rights which means users can use SAND to participate in the voting.
How to buy SAND?
You can buy, trade and store SAND at LCX Exchange. There are several trading pairs available with SAND/LCX and SAND/USDC.
