How does SAND work?

Modified on Sat, 18 Feb, 2023 at 2:23 PM

Sandbox was developed with the intention of creating an ecosystem for online video game enthusiasts and NFT collectors, leading to the implementation of various system functions to allow users to create, buy, sell and trade their created assets.

Users are able to create various characters and creatures which can be sold on the platform’s Marketplace after going through the Sandbox Game Maker, which changes these creations in ASSET tokens. 

These ASSETS can be placed on users’ LANDs. LAND is the platform’s virtual representation of actual real estate, which can be bought and owned. These pieces of virtual land can be decorated with various characters and creatures to display a lively estate. However, users are also able to place ASSETS that have been pre-programmed with certain behavioral characteristics to create a game-like experience.

The Sandbox white paper specifies that there are three main functions on the platform:

1. Voxel editor — a tool that helps users create characters and creatures to be sold on the Marketplace in the form of ASSETS tokens or to decorate their LANDS — Users are able to utilize the Voxel editor to create various characters and creatures in the form of Voxels or pixelated squares that form into a character.

2. Marketplace — a platform to exchange ASSETS tokens and acquire profitable gains in return for creations.

3. Game maker — ASSETS can be placed on LAND and through the Game maker, users can program their ASSETS to have certain distinctive behavior to create a game-like experience on their LANDS.


Sandbox’s uniqueness

Sandbox’s distinctiveness derives from the freedom to develop various creations into on-platform assets, further influencing artists’ sense of creativity. Furthermore, with the use of DAOs, Sandbox becomes increasingly decentralized, allowing users to perform transactions through systematic functions, like Smart contracts, without a central authority.

What is SAND Token used for?

SAND is the main currency on Sandbox. It operates under ERC-20 standard on Ethereum blockchain, providing it a variety of utilities:

1. Accessibility — users can use their SAND tokens to purchase ASSETS and LAND tokens on the marketplace.

2. Governance token — SAND token holders can help propose policy changes to the platform’s developers through the usage of the DAO.

3. Staking — Users can stake their SAND to earn passive income. Gems and other on-platform currencies can be acquired through this process, which can be used to create ASSET.

4. Free Capture model — 5% of all SAND tokens gained through transaction fees will be distributed on the platform. The first half will go to the Staking Pool to reward stakers, while the other half goes to the Foundation.

5. Foundation — An asset reserve used to incentivize artists and creators with potential for sustainable development on the platform.

References:Coinmarketcap,The Sandbox

* SAND is a game-based token. Please do sufficient research and consider carefully before investing.


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