The Sandbox (SAND)

From CryptoWiki

Basics

"Virtual world that is focused on gaming. Although not yet live, The Sandbox has a great roster of investors and supporters. I expect major things from them."

"The Sandbox is a decentralised, community-driven gaming ecosystem where creators can share and monetise voxel assets and gaming experiences on the Ethereum blockchain."

History

Audits & Exploits

Bugs/Exploits

Governance

Admin Keys

DAO

Treasury

Token

Launch

Token Allocation

  • 23.8% of the tokens were sold (20-8-2020). The rest is in company and advisory (10%) wallets:

"SAND allocated to investors through the Private Sale, Founders, Tem and Advisors are 100% locked with 5 years vesting and 12-month cliff."

Binance Launchpad Sale 12.00% of the total token supply
Seed Sale 17.18% of the total token supply
Strategic Sale 4.00% of the total token supply
Foundation 12.00% of the total token supply
Team 19.00% of the total token supply
Advisors 10.00% of the total token supply
Company Reserve 25.82% of the total token supply

Utility

"$SAND is an ERC-20 token built on the Ethereum blockchain. It is the main utility token and the currency of The Sandbox's ecosystem. It is also a governance token.

As such, $SAND will be required for the buying and selling of non-fungible tokens (NFTs), such as LAND and ASSETs, from The Sandbox's marketplace."

Other Details

Stablecoin

Coin Distribution

Technology

  • Whitepaper can be found here (20-8-2020).
  • Code can be viewed [insert here].

Implementations

How it works

  • The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences on the Ethereum blockchain using the platform’s utility token SAND.
  • From their Gitbook (5-10-2021):

"Some games on The Sandbox's platform will be free to play (F2P). But not all of them. The game designer may choose at their own discretion to charge players a small amount of $SAND in order to play their games. Players can potentially earn some $SAND by playing games. Simple as that.

A LAND is a digital piece of real-estate in The Sandbox's metaverse. Game designers use LAND to build digital experiences, such as games or dioramas, and also populate it with ASSETs. Each LAND is a unique, non-fungible ERC-721 token on the Ethereum blockchain. A total of 166,464 LANDs will be available. Multiple LANDs can be combined to form ESTATEs. A special type of ESTATE owned by more than one person is called a DISTRICT."

  1. "VoxEdit: software to create voxel ASSETS, which can then become Non-Fungible Tokens (NFTs) and be imported to the Marketplace.
  2. Marketplace: a decentralized marketplace for trading in-game ASSETS created in VoxEdit.
  3. Game Maker: a visual scripting toolbox that allows anyone to build 3D games for free.

The Sandbox platform currently runs exclusively on Ethereum, which is used to record the ownership of tokens and allow owners to transfer, sell, or use them without restrictions. IPFS is used to store all related information of ASSETS, and ensures that this information cannot be changed without the permission from respective owners. The Sandbox's game engine is built on top of Unity. By using Unity's Universal Render Pipeline (URP), The Sandbox will be able to support mobile platforms in the future, without sacrificing the quality of the game. The game engine also supports custom Voxel models, rigging, and animation formats (VXM, VXR, VXA) from VoxEdit.

The ERC-20 standard is used for the SAND, GEM, and CATALYST tokens, while ERC-1155 and ERC-721 standards are used for the storage and trading of LAND and ASSETS."

Fees

"From all $SAND transactions, a 5% transaction fee is applied. 50% of this fee is allocated to the Foundation Fund and the other 50% is allocated to the Staking Pool."

"The Sandbox platform utilizes a fee capture model, where 5% of all transacted value is being collected from marketplace transaction fees. The other 95% of all transacted value is collected from LAND sales, premium NFT sales, and subscription services. A total of 26.50% of all SAND transaction volume goes back into the Foundation. It is calculated as: 5% x 50% + 95% x 25% = 26.50%"

Upgrades

Staking

"$SAND is used for staking onto LAND. In return, stakers will earn rewards, such as highly coveted GEMs."

Validator Stats

Liquidity Mining

Scaling

Interoperability

Other Details

Oracle Method

Privacy Method

Compliance

Their Other Projects

Roadmap

Usage

"One collaboration was with the HSBC banking group to offer educational finance games in the metaverse, and another was with Ledger, intending to promote crypto education in virtual reality. The platform hit 2 million users during the summer, and nearly 10,000 digital parcels of LAND were resold in 2022. According to recent reports, The Sandbox entered 2023 with at least 23,000 unique LAND owners."

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

Team, Funding and Partners

Team

Funding

"As of the time of writing, the Foundation has funded over 15 game projects and granted 100 artists to produce NFTs.

As of writing, The Sandbox team has used approximately 65.00% of funds raised according to the allocations below:

  1. 52.31% Team
  2. 27.69% Development
  3. 15.38% Marketing
  4. 4.62% Administrative

The Sandbox team holds its funds in crypto, stablecoins, and fiat currencies. Funds are stored in crypto exchanges with 2FA authentication, and EUR bank accounts. Movement of funds requires the approval of at least 2 out of the 3 executives of The Sandbox."

Partners

  • The Sandbox partnered with brands like Paris Hilton, Cipriani, Warner Music, Marathon City, Metafight, and Playground (28-7-2023).
  • Announced a partnership with Snoop Dogg to create his avatar NFT collection (1-2023). Snoop was one of many major collaborations with which The Sandbox was involved during 2022. Others included Warner Music Group, K-pop artists, the World of Women, Gucci, Playboy and Tony Hawk.
  • Announced (3-2020) partnership with Atari.

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