What is the Sandbox Token and How Does it Work?

The Sandbox is a blockchain-based virtual world developed by Pixowl, which allows people to create and explore universes. It has some similarities to Minecraft in that players use resources such as water, earth, lightning, lava, sand, glass to build, and can interact with others. The Sandbox is a virtual metaverse built on the Ethereum blockchain, where players can build, own, and monetise their gaming experience. Through the use of ERC-1776, The Sandbox allows platform users to initiate transactions on the Ethereum blockchain, while transaction gas fees are paid by the platform, optimising the overall user experience.

The primary mission of the Sandbox platform is to successfully introduce blockchain technology into mainstream gaming. It focuses on facilitating a creative "play-to-win" model, allowing users to be creators and players simultaneously. Sandbox employs the powers of blockchain technology by introducing the SAND utility token, which facilitates transactions on the platform. Of the total supply of tokens, around 25.82% went to a company reserve. Another 17.18% went to the initial sale of the token.

The founders and team members secured around 31% of the total supply of tokens distributed among themselves. Around 12% of the total supply was reserved for a dedicated Binance Launchpad sale, and another 10% was dedicated as a reward to the project's advisors. As the Sandbox virtual world is built on the Ethereum blockchain, it is secured by the proof-of-stake (PoS) consensus mechanism.

The SAND token is a standard version of the ERC-20 token, which means that its owners can bet and benefit from betting rewards. Unlike the proof-of-work (PoW) consensus mechanism employed by the Bitcoin blockchain, PoS does not require large amounts of electrical or computing power to validate transactions. It relies on stakeholders with the largest stakes in SAND tokens.

The PoS consensus mechanism allows for a large number of diverse applications while ensuring the security of staked funds. The Sandbox aims to bring blockchain to mainstream gaming, appealing to crypto and non-crypto gaming enthusiasts by offering the advantages of real ownership, digital scarcity, monetisation capabilities and interoperability.

It has secured more than 50 partnerships, including Atari, Crypto Kitties and Shaun the Sheep, to build a fun and creative gaming platform owned and made by gamers. The Sandbox virtual world consists of 166,464 LANDS contained in a map that will form its metaverse. Players can purchase these LANDS to build experiences on top and populate them with games and ASSETS. Multiple LANDS can be combined to form an ESTATE.

Faisal Abdul
Faisal Abdul

Extreme internet specialist. Wannabe twitter junkie. Friendly zombie geek. Freelance twitter buff. Professional student. Passionate tv evangelist.

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