Sandbox is unarguably among top crypto metaverses. Last year saw celebrities, brands, and entrepreneurs investing heavily to have ownership over virtual lands in Metaverse. And the trend is here to stay; the growing popularity of digital assets, NFTs, and decentralized 3D platforms such as Sandbox and Decentraland makes us believe so.
According to a report by a metaverse analytics firm, MetaMetric Solutions, real estate sales on four leading metaverse platforms – The Sandbox, Decentraland, Cryptovoxels, and Somnium – reached $501 million in 2021. As per a prediction, these sales could reach nearly $1 billion in 2022.
The Sandbox, an Ethereum-based third-largest metaverse, became one of the fastest-growing cryptocurrency games, especially after it appeared in the buying list of famous sportspersons, such as Ana Ivanovic and Marco Verratti. Additionally, renowned brands like Warner Music Group, Adidas, Gucci, Atari, and Snoop Dogg also picked The Sandbox for acquiring virtual lands.
This article will talk about the five best Sandbox-based Metaverse projects that have been in the limelight lately. But, before we move forward, let us first have a basic understanding of the concept of The Sandbox.
What is The Sandbox?
The Sandbox team is a decentralized virtual world where players can build, own, and monetize their gaming experiences using SAND, the primary utility token of the platform. The project was found with a vision to offer a profoundly immersive metaverse wherein players can create virtual worlds and games collaboratively sans central authority. The Sandbox virtual world utilizes blockchain technology as well as NFTs to empower the players and creators. One should note that The Sandbox is a subsidiary of Animoca Brands.
Types Of Digital Assets In Sandbox
SAND is the utility token used in The Sandbox ecosystem for transactions and interactions. It is an ERC-20 utility token built on the Ethereum blockchain with a fixed supply of 3,000,000,000 SAND.
The Sandbox Metaverse comprises LANDS, parts of the world owned by players to create and monetize experiences. There will be only 166,464 LANDS available to host games, create multiplayer experiences, build housing, or propose social experiences to the community. As per the Whitepaper of The Sandbox, the Sandbox gaming environment is divided into 5 types of digital assets: SAND, LANDS, ASSETS, GEMS, and CATALYSTS.
Top Sandbox Metaverse projects
Seeing the widespread popularity of “The Sandbox,” various projects have bought land on the platform by entering into partnerships. Some of the best Sandbox based Metaverse projects 2022 are as follows
1. AXA Hong Kong partners with The Sandbox:
Last month, The Sandbox partnered with AXA Hong Kong, a leading global insurer. With this partnership, AXA has acquired a 3×3 LAND, intending to provide an innovative interactive space for its customers. Hong Kong has a vital and growing role in The Sandbox, with the Mega City cultural hub featuring countless Hong Kong companies, artists, and entertainers. Through AXA’s LAND, the company will try to provide fresh digital experiences to its customers, partnering to co-create the future of insurance in the metaverse.
2. HSBC acquires land in The Sandbox
In March this year, the British multinational universal bank HSBC acquired a plot of virtual real estate in The Sandbox to create innovative brand experiences for customers and tap sports, esports, and gaming enthusiasts.
The groundbreaking partnership between The Sandbox opens the door for other global institutions to continue innovating in Web3 as consumer adoption demands more robust experiences in the metaverse through decentralized and gamified offerings.
3. Standard Chartered Bank (Hong Kong) strikes partnership with The Sandbox
Earlier this year, Standard Chartered Bank (Hong Kong) announced its decision to buy a plot of virtual land in The Sandbox’s metaverse’s Mega City district, with support from the bank’s venture subsidiary SC Ventures. The bank maintained that the involvement in the metaverse it to reimagine its relationship with current and possible clients on this new platform and approach to enhance client journeys. Having acquired virtual land in Mega City perfectly fits with the financial service provider’s commitment to boosting its constant presence in Hong Kong, whether physical or virtual.
4. Atari
Iconic gaming company Atari is one of the biggest owners of Land, or virtual real estate, in The Sandbox. In its commitment to developing this Land, recently, Atari launched Sunnyvale, a significant new experiment in the Sandbox metaverse.
In Atari Sunnyvale, players have the opportunity to explore each other and interact with non-player characters based on Atari characters. Atari Sunnyvale Experience is based on nine classic Atari games and includes a game based on Crystal Castles.
The Sandbox, owned by Animoca Brands, recently announced the latest Alpha Season 3 with 90 new metaverse experiences. Atari Sunnyvale is likely to be launched as part of Sandbox Alpha Season 3.
5. PricewaterhouseCoopers (PwC)
In December last year, accounting firm PricewaterhouseCoopers (PwC) ‘s Hong Kong branch revealed that it purchased a patch of land in The Sandbox. The PWC’s Hong Kong unit has been into the blockchain technology and crypto assets for quite some time now. In November 2017, it reportedly said that it accepted bitcoin payments for consultancy services.
Conclusion
Though all kinds of people and businesses are increasingly adopting the Metaverse; however, it is still an extremely speculative place with high risk. Future metaverse landlords are keeping an eye on real estate in the virtual space, thinking of owning properties while the land is still affordable.
Meanwhile, small investors or businesses wanting a presence in Metaverse can still look for a rental space.
FAQs
How to create games in The Sandbox?
The Sandbox Game Maker is the toolbox users need for their imagination to come to life. The Sandbox Game Maker permits anyone to create 3D games for free. No coding is necessary because the accessible visual scripting tools make amazing games in minutes. Creators contribute to a vast multiverse filled with fabulous creations and experiences.
The Game Maker is ideal for making role-playing games (RPGs), open-world, and adventure games. At the same time, other game types are also possible.
What is SAND?
$SAND is an ERC-20 token built on Ethereum blockchain. It is the primary utility token and the currency of The Sandbox’s ecosystem. $SAND is useful in buying and selling non-fungible tokens (NFTs), like LAND and ASSETs, from The Sandbox’s marketplace.
Is The Sandbox (SAND) a good investment?
With its ICO price at $0.008300, the SAND’s valuation has surged almost 9000%. As the interest in the metaverse grows, SAND’s value will climb higher. Given the unique product offering of Sandbox: VoxEdit, a marketplace & a game maker, and the kind of support it has received from major corporate players like Atari, PWC Hong Kong, and others make it a good investment as of now, and the token can be added to your investment portfolio. At today’s (October 15, 2022) price of $0.759355 per token, the Sandbox (SAND) is up almost 2.18% in the last one year. The token’s year-to-date (YTD) return has fallen by nearly 87.22%. If we talk about this calendar year, SAND price traded at its highest on January 1, 2022, at $5.97 per token.
Also Read: Sand Price Prediction: $2 Fakeout May Surge SAND Price By 28%
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/blog/sandbox-projects/