The Sandbox continues to make strides in its quest to become the leading metaverse project. With the support of a strong game studio, it has established itself as one of the top blockchain projects, driving the adoption of tokens and various NFT collections.
To further its growth, The Sandbox has launched another reward period, setting aside 300k SAND tokens. Additionally, the metaverse platform has introduced a new game generator, which has proven to be popular among users. The large land plots available in The Sandbox also serve as a platform for Web3 and blockchain brands to thrive.
Furthermore, The Sandbox organizes mini-challenges that offer 100 SAND rewards for utilizing its game generator tool. Just a month ago, The Sandbox unveiled its latest game-making tool. The metaverse platform also relies on special events, meetups, and themed NFT collections to drive engagement.
The Sandbox plays a crucial role in bridging the gap between mainstream gaming and Web3. Most NFTs, avatars, and Sandbox projects aim to promote digital ownership with lower risks of speculation or fraudulent activities. This is why even Ubisoft, a prominent game developer, has chosen The Sandbox for its recent collection launch.
Early owners of The Sandbox assets will have exclusive access to Ubisoft’s new metaverse experience, ChampionsVerse. The NFTs for this experience will be free and will not go through the usual minting and bidding process.
Despite having fewer daily active players compared to the peak activity during the 2021 NFT and gaming boom, The Sandbox retains its value, with NFTs trading at a floor price of around $390. The project has created several scarce items, including skins and decorations, which are highly sought-after within its metaverse locations.
The native token of The Sandbox, SAND, remains one of the top gaming assets, despite trading at around $0.42 in May. During the best times for metaverse games in 2021, SAND reached a peak price of over $7.50. The Sandbox’s market capitalization is close to that of Axie Infinity, with a valuation of $983 million. SAND tokens are also on par with their competitor, Decentraland (MANA), another popular metaverse hangout, which is trading at around $0.41.
SAND continues to be a high-profile token, primarily due to its active presence on social media and engagement through metaverse events. The token is currently being actively used for rewards, in addition to the free NFTs, and there are no coordinated efforts to artificially inflate its value. Trading volumes have stabilized at around $55 million in the past 24 hours, with contributions from Binance, Upbit, and HTX trading.
Gaming tokens, including SAND, are currently experiencing consolidation, with no recent breakout trends. SAND is currently below its 100-day moving average but is seeing some accumulation, along with other Web3 and gaming tokens. Holding SAND may also make users eligible for additional rewards through staking or NFT drops.
The land plots available in The Sandbox retain their value, with basic plots starting at 0.1349 ETH. Exclusive land plots are being sold for 1M ETH, while high-profile plots are offered between 1,000 and 10,000 ETH. The most common sales occur at around 0.15 ETH. Owning digital land is essential for a complete Sandbox experience, particularly for players utilizing the VoxEdit service.
The goal of The Sandbox is to provide relatively accessible NFTs and items to create a more immersive metaverse experience. With its rich graphics and well-developed gameplay, The Sandbox remains one of the top games in the Web3 space.
In addition to land plots, The Sandbox offers special branded editions and claimable avatars in its collections. Some NFTs even include musical effects and additional branded skins, adding to the overall experience.
