The Sandbox Metaverse Boosts Rewards with 300k SAND Tokens

ChainPlay

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one month ago

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The Sandbox Metaverse Launches New Reward Period

The Sandbox continues its push to become a top metaverse project. With strong backing from its game studio, it has grown into a leading blockchain platform, promoting token use and various NFT collections. The Sandbox has now introduced another reward period, setting aside 300,000 SAND tokens. This move supports its growth and encourages more participation in its virtual world.

The Sandbox has rolled out a new game generator to boost user engagement. Large land plots within the metaverse now support Web3 and blockchain brands, enhancing the virtual environment. To further encourage interaction, The Sandbox organizes mini-challenges with rewards of 100 SAND tokens for using its game generator. About a month ago, a new game-making tool was introduced, adding to the platform's appeal. Special events, meetups, and themed NFT collections also play a role in driving user engagement.

The Sandbox is working to bridge the gap between traditional gaming and Web3. By offering NFTs, avatars, and other projects, it aims to popularize digital ownership with less risk of speculation. Ubisoft's choice to launch a new collection within The Sandbox highlights its appeal. Early owners of The Sandbox assets will gain exclusive access to Ubisoft’s new metaverse experience, ChampionsVerse. This NFT will be free and won't go through the usual minting process.

The Sandbox Retains Value in Virtual Worlds

Ranked 128 among Web3 games, The Sandbox is available on both Ethereum and Polygon. Although daily active players have decreased since the 2021 boom, The Sandbox still holds value. Its NFTs trade at around a $390 floor price, and the project has created various scarce items for use within its metaverse.

Despite trading at around $0.42 in May, the SAND token remains a top gaming asset. It peaked above $7.50 during the height of the metaverse gaming trend in 2021. The Sandbox is comparable to Axie Infinity in market capitalization, with a valuation of $983 million. SAND tokens are nearly equal to Decentraland’s MANA, which trades at around $0.41.

SAND remains popular due to active social media engagement and metaverse events. The token is used for rewards and as an addition to free NFTs, with no attempts to artificially inflate its value. Trading volumes have stabilized around $55 million in 24 hours, supported by platforms like Binance, Upbit, and HTX.

Gaming tokens, including SAND, are consolidating without significant price surges. SAND is currently below its 100-day moving average but shows signs of accumulation. Holding SAND can also offer additional rewards through staking or NFT drops.

Metaverse Land Plots Maintain Value

Land plots in The Sandbox continue to hold value, starting at 0.1349 ETH for basic plots. Some exclusive plots are listed for up to 1 million ETH, while high-profile plots range between 1,000 and 10,000 ETH. Most common sales occur around 0.15 ETH. Digital land remains essential for the full Sandbox experience, especially for users of the VoxEdit service.

The Sandbox aims to offer accessible NFTs and items for a richer metaverse experience. It remains one of the most well-developed games in the Web3 space, offering a graphic-rich virtual environment. Besides land plots, The Sandbox collections feature special branded editions and claimable avatars. Some NFTs include musical effects and branded skins, adding to the immersive experience.