Against the background of Mark Zuckerberg’s statement about the upcoming comprehensive development of the metaverse project, it became a stimulus for the growth of cryptocurrencies of already existing projects of virtual worlds. In addition to the most developed world of Decentral and, several other platforms operate on the Ethereum blockchain, in particular The Sandbox.
What is The Sandbox
This platform can be called a kind of game constructor, where each user can create his own unique world and equip it at his own discretion. You can equip the location yourself, or together with friends. It is possible to realize your fantasies in virtual reality even without programming skills.
The platform was launched in summer 2020 and is being gradually improved.
The idea and graphics of The Sandbox have much in common with Minecraft, but the fundamental difference between the two games is the ability to monetize the experience.
Users not only create characters, clothing, weapons, environmental objects, equipment, structures, but can sell their creations on the marketplace. This was achieved through the introduction of non-fungible tokens into the system.
Such opportunities stimulate users to be creative and contribute to the development of the platform as a whole.
There are three types of tokens used on the marketplace:
- SAND, which serves as the main means of payment in the system.
- LAND – virtual land plots.
- ASSETS – all other objects and items.
What is SAND
Technically, SAND is nothing more than an ERC-20 token. It functions as an in-game currency and a cryptocurrency at the same time and performs several functions.
First of all, the token serves as a means of payment for the sale and purchase of non-fungible ASSETS and LAND tokens, as well as for paying fees when uploading your own creations. SAND may be needed to access some locations or hire content creation specialists.
The token can be earned, but the platform does not provide financial advice. Ultimately, it all depends on the user’s ability to create content that other members of the community will be willing to pay for.
In addition, SAND:
- Gives the right to vote when discussing updates.
- Can be used for staking.
- Used as an investment tool.
SAND price prediction
The cryptocurrency market is extremely difficult to predict, especially when it comes to historically young assets. The Сardano price prediction is also compiled on the basis of historical data, but the behavior of cryptocurrencies depends much more on psychological factors than on real economic processes.
Until the end of October 2021, SAND was trading at a price below $ 1. The sharp increase was associated with Zuckerberg’s statement about the priority development of the metaverse project.
Since SAND is still more a game currency than a digital asset, the further behavior of the token will depend on the development of the Sandbox project. Analysts agree that the price is likely to correlate with general market trends.
How to buy SAND
SAND is traded on some major exchanges and is available for purchase with fiat and some cryptocurrencies. To buy a token on a traditional exchange, you will need to register an account. If you only have fiat assets, then you cannot do without this step.
If you already have another cryptocurrency, it is much faster and easier to swap ETH to SAND using LetsExchange services. Previously, the exchange of cryptocurrencies is available without registration and KYC. You do not waste time performing these procedures and do not disclose any personal information. To start sharing, just fill in the widget:
- In the upper field, indicate the ETH for sale and the amount of coins;
- In the lower field, indicate the SAND for purchase;
- Indicate the address of your wallet;
- Deposit coins.
- Press the “Exchange” button.
The search for a profitable deal, the completion of the transaction and the crediting of the purchased coins are performed automatically. It takes a matter of seconds. The platform does not store your coins, they leave the wallet only during the conversion process and are returned after its completion.
Cryptocurrency exchange with LetsExchange is fast, simple and completely anonymous.
Barry Lachey is a Professional Editor at Zobuz. Previously He has also worked for Moxly Sports and Network Resources “Joe Joe.” he is a graduate of the Kings College at the University of Thames Valley London. You can reach Barry via email or by phone.