2021 saw a rapid expansion and adoption of the Metaverse, with Facebook going as far as to rebrand to ‘Meta’ Platforms to celebrate its transition into the virtual realm. The Sandbox is one of the early movers into the Metaverse.
It launched its mobile gaming platform in 2010, providing a suite of useful tools allowing people to engage in nonlinear gameplay, otherwise known as ‘Sandbox mode’ gaming. The Sandbox will enable users to create custom worlds, populating them with characters, objects, and people.
Animoca Brands acquired the game in 2018, with the parent company focusing on exploiting the virtual real-estate in the game to create a blockchain-based Sandbox, complete with P2E gaming functionality, tradable NFTs, virtual land parcels, and more.
If you are looking to add some of the Sandbox’s token SAND to your crypto portfolio, read on for how to buy it and we also cover the game in more detail below to give you an idea of how it all works.
Where to Buy The Sandbox SAND
Contents
This section is our top picks of where and how to buy The Sandbox SAND Crypto token. We chose these based on our experience of using them and considered fees, security, payment options and reputation.
- Binance: Largest Crypto Exchange with Low Fees
- eToro: Easy to Use Platform With Social Trading
- Coinbase: Highly Regarded and Easy to Use for Beginners
- FTX: Great Exchange for Newbies & Advanced Users
Visit The Top Pick
Binance: Largest Crypto Exchange
Binance is the biggest cryptocurrency exchange in terms of daily trade volumes. Cryptocurrency investors can enjoy full access to trade over 600 crypto assets, including big movers like Bitcoin, Ethereum, and most of the top cryptos. With a minimum deposit of $10, investors can instantly start investing their crypto of choice.
Besides its large inventory of crypto assets, Binance also offers the lowest trade fees in the market. Binance charges 0.1% on all trades, and there’s an option for this figure to be further discounted by 25% for investors who hold Binance Coin – the exchange’s native token.
Funding your Binance account is seamless and straightforward. The exchange supports several deposit channels, including bank wire transfers, peer-to-peer (P2P) payments, credit/debit cards, and payment processors.
However, unlike eToro – deposits are not always free. For instance, Binance charges customers a standard fee of up to 4.50% on all crypto purchases made with debit/credit cards. Crypto deposits, on the other hand, are free.
This popular crypto exchange features a detailed learning curve and advanced trading tools, making it more suited for well-experienced traders and not beginners.
In terms of security, Binance offers the best security integrations. This broker features two-factor authentication (2FA), whitelisting, and advanced data encryption to protect customer funds and data. Also, Binance utilizes cold storage to store a vast majority of its funds, and the exchange also operates an insurance fund that protects customers in the event of an attack.
Pros
- Lowest trading fees in the market
- High liquidity on most cryptos
- Advanced trading tools
- Large crypto inventory
- Wide range of deposit channels
Cons
- Not beginner-friendly
eToro: Easy to Use
eToro is a great easy to use exchange to buy this crypto. The platform is a social trading broker that allows investors to buy, sell and convert over 80 cryptocurrencies.
This exchange features a simplified user experience that makes it easy for investors with zero knowledge of crypto trading to find their way in the trade market.
With a minimum deposit of $10, depending on region, investors can easily buy and sell digital assets. One major feature that makes crypto enthusiasts trust eToro is its seamless array of deposit channels, including bank transfers, direct crypto deposits, debit/credit cards, and e-wallet solutions like PayPal.
eToro allows fee-free deposits on all payment channels and zero charges for account opening or management. However, a standard fee of $5 for all withdrawals and a 1% flat fee on all completed trades are charged. Investors are also charged a $10 inactivity fee monthly if they fail to trade on the platform for a year. eToro has many features that make it one of the biggest social trading networks.
One of the most impressive features is the CopyTrader option. This feature enables investors to learn how to buy different crypto coins and tokens by finding experienced traders on the platform and copying their successful trade strategies to profit whenever they do.
For security, before signing up, eToro requires traders to enable two-factor authentication (2FA) for added protection to their accounts. eToro also features advanced encryption and masking technologies to secure all users' accounts.
This broker operates in 140 countries and is licensed and regulated by top financial institutions like the U.S. Securities and Exchange Commission (SEC), Cyprus Securities and Exchange Commission (CYSEC), Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), and Financial Industry Regulatory Authority (FINRA).
Pros
- Purchase Crypto with minimal costs.
- Regulated by top financial institutions
- Wide range of deposit methods
- 1% flat fee on crypto trades
- Seamless account opening
Cons
- $5 Withdrawal fee
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Coinbase: Simple & Easy for Beginners
Coinbase is another great alternative best suited for newbie investors keen to learn how to buy this crypto. This platform is known for its reputation and simplified trading features.
The US-based platform allows investors to purchase, trade, and stake over 10,000 supported blockchain-based assets. To begin investing, investors must first register an account, which takes around 10 minutes. Coinbase allows users to invest a minimum investment of $2, which is one of the lowest prices in the crypto industry.
This exchange also integrates seamless deposit channels, like wire transfer, crypto deposits, debit/credit card, and e-wallet solutions, as well as fiat currencies like USD, GBP, and EUR available for cash out. Coinbase charges a standard fee of up to 3.99% for all debit card crypto purchases. However, investors enjoy 4% cash back bonuses whenever a Coinbase debit card is used to purchase crypto assets.
In terms of trading fees, users are charged between 0.5% and 4.5%, depending on the selected payment method, type of cryptocurrency, and total transaction amount.
One of the standout features that distinguishes Coinbase from other brokers is its versatility in terms of services and products offered to retail and institutional investors, ranging from exchange-based wallet and cashback visa cards, staking passive income, and asset hubs.
For security, the US-based exchange integrates 2FA verification as an added security layer to investors’ usernames and passwords, crime insurance that secures digital assets from theft and fraud, and many more. Coinbase is also licensed and regulated by top financial agencies like the Securities and Exchange Commission (SEC), Financial Conduct Authority (FCA), New York State Department of Financial Services (NYSDFS), and Financial Crimes and Enforcement Network (FinCEN),
Pros
- Simplifies trading tools, perfect for beginners
- Wide selection of crypto assets
- Lowest minimum deposit in the industry
- Offers Coinbase debit card with 4% cashback bonuses
Cons
- High fees (and usually, a complex and unclear fee structure)
FTX: Great For Newbies & Advanced Traders
FTX features highly-efficient trading platforms in desktop and mobile formats. Whether an investor is a newbie or an experienced investor, this platform provides all they need.
FTX integrates a user-friendly interface and basic/advanced trading tools to over 300 cryptocurrencies available for spot trading and the strongest bases of coins to give investors the perfect trading experience.
There is no minimum deposit amount to get started with FTX. Although all deposits are completely fee-free, investors will be charged a fee of $75 for every withdrawal less than the $10,000 value mark. More so, all deposits made by bank transfer may take 3 to 5 business days to reflect.
In terms of fees, FTX has standard maker/taker fees. The maker fee ranges from 0.00% to 0.02%, while taker fees range from 0.04% to 0.07%. Bank wire, fast bank deposits, debit/credit cards, silver exchange network (SEN), and signature SIGNET are all options for deposits.
For security, FTX features a two-factor authentication (2FA) protocol, withdrawal address and IP whitelisting, chain analysis to monitor any suspicious activity, sub-accounts with configurable permissions for added protection, and a self-maintained insurance fund. FTX functions in several countries, and its spin-off - FTX.US - tenders to all US-based traders' needs. FTX is also regulated in the United States of America.
Pros
- Multi-asset trading
- Dual platforms - Desktop and Mobile
- Liquidity for all assets
- Great trading platforms
Cons
- User-interface may be intimidating for newbie traders
What is The Sandbox?
As one of the early adopters of the Metaverse, The Sandbox enjoys a reputation as one of the leading metaverse platforms. It has a huge following, including a cult status among the hip-hop community.
Rappers like Gucci Mane and Snoop Dogg spent millions of dollars in 2021, acquiring virtual real estate in the Sandbox. This review unpacks everything you need to know about The Sandbox.
The Sandbox has a diverse offering for users. Let’s look at what The Sandbox ecosystem offers your gaming and crypto experience.
The SAND Token
The SAND token is the native currency used in The Sandbox. Despite the crypto winter and market volatility, SAND retains a relatively stable price. The stability in the SAND price makes it more attractive to long-term investors in NFTs and digital assets.
Most metaverse mutual funds and ETFs include the SAND token, with its value floating around $1.40 after the 2021 mania that saw it reach an all-time high of over $8 per token. Holders of the SAND token can use it to finance NFTs in The Sandbox marketplace, purchase virtual real estate or level up inside games.
VoxEdit
VoxEdit developed by The Sandbox team is a Voxel editing software forming a vital part of The Sandbox ecosystem. VoxEdit assists artists with creating digital assets for the Sandbox. The Voxel is the building block of the Sandbox metaverse.
The modeling function in VoxEdit allows creators to design 3D voxelated versions of digital assets and import work from other platforms, such as Minecraft. The animation function in VoxEdit will enable creators to ‘rig’ their assets using digital animation to create unique movements in-game scenes.
After testing the digital assets in-game, the developer has the option of minting their new digital asset on the blockchain using the VoxEdit platform. Users that export assets to The Sandbox will see they’re visible in their profile.
Users can share the asset listing in the marketplace or as a virtual asset existing on the blockchain. VoxEdit also offers preset templates for creators, reducing the amount of work and time to create digital assets. It’s the ideal beginner platform for new developers, and The Sandbox management and development team has a tutorial series using the VoxEdit feature.
The Marketplace
The Sandbox Marketplace exists on the Ethereum blockchain allowing users to trade assets. The SAND token is the primary currency used in The Sandbox to make asset purchases and pay for other functions on the platform.
To access the marketplace, users must connect to the Ethereum mainnet and need an account setup at the official Sandbox website. After meeting these requirements, users can buy and sell their NFTs for SAND, provided they have the ETH available to cover the gas fees.
The Sandbox takes a 5% fee on the total sale amount of the asset through the marketplace. This fee goes towards the development costs for the Sandbox metaverse via the Sandbox Creator and Game Maker Fund.
There are four digital asset classes available in The Sandbox. Art, Entities, Equipment, and Wearables. Some categories add utility to your gaming experience, but many are just cosmetic and improve the aesthetic of the gaming experience.
The Sandbox management has plans to add different categories like Games, Blocks, and Avatars to the marketplace in the future. Originally, the Sandbox management team had the vision of creating a decentralized marketplace for users, and they’ve somewhat achieved that dream.
The Sandbox Creator and Game Maker Funds
Launched in 2018, the Sandbox Creator and Game Maker Funds had an initial pool of $2 million to finance the development of the Sandbox metaverse. The fund focuses on incentivizing users to create high-quality digital assets for use in The Sandbox metaverse.
The program has a cap of 1,000 users participating in publishing digital assets to The Sandbox marketplace. The program rewards the creators based on the utility and quality of the assets they create and bring to the platform.
Those creators selected to participate in the original beta release of the program will establish reputations and benefit from huge exposure.
The Game Maker Fund focuses on developing user talent in game development on The Sandbox. The fund rewards users with proven skills in designing digital worlds and games, issuing them SAND tokens to publish and manage their games.
Admission to the fund is a selective process to ensure that only the highest-quality games get published through the Sandbox platform and marketplace. The Sandbox retains its reputation for a high-quality gaming experience by maintaining a focus on quality.
The Sandbox Token Economy
The Sandbox ecosystem relies on five tokens used for various functions.
- LAND (ERC-721)
- SAND (ERC-20)
- ASSET (ERC-1155)
- GEM (ERC-20)
- CATALYST (ERC-20)
Let’s look into each of these tokens to understand their utility.
LAND
LAND is an ERC-721 NFT token in the Sandbox enabling holders to rights over a 96-square meter piece of digital real estate in The Sandbox metaverse. LAND holders can build unique digital real estate experiences with assets.
Through tours, other users in The Sandbox metaverse can experience these digital assets themselves. There are 166,464 LAND parcels in The Sandbox, with the management team stating there will be no further minting of LAND assets.
The Sandbox retains the rights over 16,704 LANDS or around 10% of all LAND assets in The Sandbox metaverse. These LANDs are used for hosting special events and feature exclusive games.
There are two ways that LAND holders can monetize their digital assets. They can create gaming experiences on their LAND, charging players SAND tokens. Or, LAND owners can play landlord and rent their LAND to creators and gamers so they can develop it. As a result, the LAND holder gets a passive rental income from their digital assets.
Estates
Estates are parcels of several adjacent LANDs. They come in 3×3, 6×6, 12×12, and 24×24 (square meters) parcels, with estates owned by single entities or multiple parties. Estates offer the holder excellent visibility in the Sandbox as they appear on the map.
Big brands like to invest in estates in The Sandbox, using these digital assets as a branding and marketing opportunity in the Sandbox metaverse.
SAND Supply and Circulation
The SAND native token used in The Sandbox metaverse acts as the core currency. This ERC-20 token is a utility token used by participants within The Sandbox ecosystem. There is a total supply of 3 billion SAND, and the current circulating supply of SAND tokens is approximately 919,498,319, or around 30.64% of the total supply.
The Sandbox management team states that the total supply of SAND tokens will be unlocked and used in the Sandbox metaverse by 2024. The project founders say their vision for the platform is to create a self-governing DAO run by the community. As a result, the founder intends to sell all tokens back into the SAND ecosystem over time.
ASSETs
Assets are the Voxel creations minted into NFTs on The Sandbox. These assets use the ERC-1155 standard, with these assets building the virtual experience in The Sandbox.
Creators produce assets that game creators use in their development process, building immersive gaming experiences for users. There are five asset categories in The Sandbox, Entities, Wearables, Equipment, Blocks, and Arts.
GEM
The GEM is an ERC-20 token burned during the NFT minting process in The Sandbox. By minting NFTs with this process, these digital assets gain special features granting the asset a better in-game experience. When burning GEM, the user boosts their assets stats.
One GEM provides up to 25 attribute points to ASSETs. With help from CATALYSTs, users can socket up to four GEMs, giving their NFTs up to 100 attribution points. The only way to earn GEM is by staking SAND tokens on LAND.
CATALYST
The CATALYST is an ERC-20 token burned when minting an NFT. CATALYST help determines the rarity of digital assets while providing slots for storing your GEMs. However, there is no information available on methods for obtaining CATALYSTs. They exist in the following four tiers.
- Common – One GEM socket, minting up to 20,000 ASSET copies.
- Rare – Two GEM sockets, minting up to 4,000 ASSET copies.
- Epic – Three GEM sockets, minting up to 1,500 ASSET copies.
- Legendary – Four GEM sockets, minting up to 200 ASSET copies.
Transacting on the Sandbox Platform
Creators and players can purchase and sell their ASSETs using the SAND token. However, users may only purchase their LAND using SAND during primary sales and all sales through the Sandbox Marketplace. Creators will have to spend their SAND to upload digital ASSETs to the Sandbox Marketplace.
Staking
Users can stake their SAND on the platform to receive rewards. Staking also allows users to farm CATALYSTs and GEMs, which are key in digital ASSET creation in The Sandbox.
Staking is similar to earning interest in the bank. However, instead of paying you in dollars, The Sandbox pays you in its native token, SAND. It’s a great way for users to create passive income streams in The Sandbox.
Fee Capture Model
The Sandbox Marketplace charges a 5% fee on the total value of all transactions through the platform. Users pay these transactions in SAND, with the funds going to strengthen the Foundation and treasury of The Sandbox.
Governance
The Sandbox follows a DAO framework, using the SAND token for governance. SAND holders may participate in all governance issues surrounding the platform management and development. The more SAND, the user, holds, the more weight they have in voting right in these governance decisions.
Some of the governance issues involved with The Sandbox include activities like Foundation grant attributions to creators and prioritization of features on the Sandbox roadmap. SAND holders also have the right to delegate their voting rights to other users.
Foundation
The Foundation is a collection of funds allocated to developing The Sandbox ecosystem. The Foundation conducts grant approvals for creators that want to publish content and assets on the platform.
These grants come in the form of SAND token allocations, assisting the development team with some of the dev costs involved in bringing the asset or game to market in The Sandbox. This strategy allows for the fast development of the Sandbox ecosystem.
In Closing
The Sandbox is one of the leading metaverses in the Web 3.0 space. While it faces competition from other big metaverse names like Roblox, Decentraland, Bloktopia, and more, it remains one of the more popular options for creators and users.
The management team behind platform development maintained their focus on expanding the user experience with The Sandbox, resulting in good forward guidance, and relevance in the market. Its strategic partnerships with big-name investors and celebrities mean it benefits from more media attention than many other metaverses.
One of the biggest attractions of The Sandbox is that it currently doesn’t require the use of a VR headset to access the platform, play games, or purchase NFTs. With a browser user experience, The Sandbox captures a large piece of market share left to the wind by other big names in the metaverse game.
It’s easy to start with the Sandbox. Open a wallet, buy a few SAND tokens, and you’re ready to go.
