The Sandbox is an Ethereum-based metaverse and gaming ecosystem where you can create, share, and monetize assets and games.
The Sandbox is an Ethereum-based metaverse and gaming ecosystem where users can create, share, and monetize in-world assets and gaming experiences. Created by Pixowl, The Sandbox is designed to disrupt the traditional gaming market in which platforms own and control user-generated content whereby the rights of creators and gamers are limited. In The Sandbox, users have absolute ownership over their in-world creations.
The Sandbox is made up of three products:
VoxEdit allows users to create and animate 3D objects in the metaverse, such as people, animals, and tools among other items. These objects are referred to as ASSETS and use the ERC-1155 token standard, allowing for both fungible and non-fungible tokens (NFTs) to be minted with a single smart contract.
The Sandbox Marketplace is a venue in which users can publish and sell their ASSETS after first uploading them to the InterPlanetary File System (IPFS).
The Sandbox Game Maker allows users to create 3D games for free.
While no knowledge of coding is required to participate in The Sandbox, its powerful suite of tools makes it possible to create and incorporate valuable assets into a fast-growing world of online games and worlds.
Tokenomics of The Sandbox Ecosystem
By providing an ecosystem for tokenized assets in gaming, The Sandbox ecosystem makes use of several different tokens. SAND is an ERC-20 token that powers all of the ecosystem’s transactions and interactions. For example, it costs SAND tokens to play games, purchase equipment, or customize your avatar. In the future, SAND will also serve as a governance token, allowing its holders to have input on changes to the ecosystem when The Sandbox DAO (decentralized autonomous organization) is established.
SAND can also be used to purchase ASSETS and LANDS, digital pieces of real estate which are represented by ERC-721 tokens, which are NFTs. Players can use their LANDS, a 96x96 meter digital plot, to house games and ASSETS. Only 166,464 LAND plots will ever exist. When a player combines multiple LANDS into one property, it is called an Estate.
Finally, SAND tokens can be staked to acquire more SAND, as well as Gems and Catalysts — two further types of tokens which are required for ASSET creation. Catalysts are ERC-20 tokens that define the “tier” and scarcity of your ASSETS. Tiers range from “common” to “legendary,” with common ASSETS being the least scarce and legendary ASSETS being the most scarce. Gems are ERC-20 tokens and are burned when used. In addition to being acquired via the staking of SAND, Gems can be purchased from other players.
The Sandbox pays for Ethereum gas fees on behalf of players, making the user experience more seamless. Additionally, 50% of the SAND token transaction volume is allotted to The Sandbox Foundation, which supports the ecosystem by funding grants and promoting the platform.
How to Generate Revenue in The Sandbox
You can generate revenue in The Sandbox in several ways. After creating ASSETS with VoxEdit, you can upload them to The Sandbox Marketplace to sell as NFTs. For example, ASSETS such as avatars, motorbikes, and animals sell for a wide range of prices — from less than 10 SAND to thousands of SAND.
Likewise, you can create and monetize your own games with The Sandbox Game Maker, or alternatively earn rewards as a player of other users’ games. You can also earn income from your LAND by renting it to other players or by populating it with content to increase its value.
The Sandbox is one of several crypto metaverses attempting to change the dynamics between creators, gamers, and gaming platforms. The Sandbox and its peers are paving the way for a new gaming market in which players own the products of their creative labor and are rewarded for the substantial value that they generate for platform operators.
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As an enthusiast with a deep understanding of blockchain-based metaverses and gaming ecosystems, I've closely followed developments in The Sandbox, an Ethereum-based metaverse that revolutionizes user-generated content and ownership within the gaming industry. My knowledge extends to the intricate details of its architecture, tokenomics, and the overall user experience.
The Sandbox, developed by Pixowl, addresses the limitations of traditional gaming platforms by empowering users with absolute ownership over their in-world creations. This groundbreaking approach disrupts the conventional gaming market, where platforms usually control user-generated content. In The Sandbox, creators and gamers have unprecedented control and rights over their virtual assets.
The metaverse comprises three integral components:
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VoxEdit: This tool allows users to create and animate 3D objects in the metaverse, referred to as ASSETS. These assets utilize the ERC-1155 token standard, enabling the creation of both fungible and non-fungible tokens (NFTs) through a single smart contract.
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The Sandbox Marketplace: A venue where users can publish and sell their ASSETS, which are first uploaded to the InterPlanetary File System (IPFS).
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The Sandbox Game Maker: A tool enabling users to create 3D games without the need for coding skills.
The tokenomics of The Sandbox ecosystem involve the use of different tokens:
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SAND: An ERC-20 token, powers transactions and interactions within the ecosystem. It is used to play games, purchase equipment, customize avatars, and will serve as a governance token in the future.
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LAND: Represented by ERC-721 tokens (NFTs), these are digital plots of real estate within the metaverse. LAND can be used to house games and ASSETS, and players can combine multiple LAND plots to form an Estate.
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Catalysts and Gems: ERC-20 tokens required for ASSET creation. Catalysts define the tier and scarcity of ASSETS, ranging from common to legendary. Gems are burned when used and can be acquired through staking SAND or purchased from other players.
The Sandbox Foundation is funded by 50% of the SAND token transaction volume, supporting the ecosystem through grants and platform promotion. The platform also covers Ethereum gas fees for users.
Generating revenue in The Sandbox involves creating and selling ASSETS as NFTs on the marketplace, developing and monetizing games, earning rewards as a player, renting out LAND, or enhancing its value through content creation.
In conclusion, The Sandbox exemplifies a transformative approach to gaming, emphasizing user ownership, creativity, and a decentralized ecosystem. Its innovative tokenomics and tools provide a comprehensive platform for users to actively participate, create, and monetize within the metaverse.
