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Explained: The Sandbox SAND Token

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DappRadar

Learn about the SAND token

The SAND token is the native digital currency for a virtual world called The Sandbox. Players can use SAND to pay for NFTs or services, and earn SAND by completing objectives, trading or providing other services. Ultimately gamers can create their own games, with their own monetization models, all powered by the SAND token.

The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences on the blockchain using SAND, the platform’s utility token. Players can create digital assets as NFTs, upload them to the marketplace, sell and buy them, and then drag-and-drop them to create game experiences with The Sandbox Game Maker. 

The Sandbox has secured over 50 partnerships including The Walking Dead, Atari, CryptoKitties, and Shaun the Sheep to build a fun, creative play-to-earn gaming platform, owned and made by players. The Sandbox aims to bring blockchain into mainstream gaming, attracting both crypto and non-crypto game enthusiasts by offering the advantages of true-ownership, digital scarcity, monetization capabilities, and interoperability.

In 2021 the value of the SAND has gone up considerably, from $0,03 in December 2020 to $0,59 at the time of writing. The token launched in August 2020 through Binance Launchpad, and is mainly used as an utility token. However, ultimately The Sandbox will give SAND owners governance over the platform. But that transition could possibly still be two years away.

You can also earn SAND by staking the SAND/ETH liquidity pool from Uniswap through their liquidity mining program. Liquidity providers can earn a share of 1,500,000 SAND in monthly rewards. Additionally, LAND holders receive a yield multiplier. This has enabled SAND to enter in DeFi space by combining NFT and staking incentives. Holders of LAND and SAND can use their tokens to build and play in gaming lands when the first public alpha version of The Sandbox launches later in 2021.

The top exchanges for trading in The Sandbox are currently Binance, Huobi Global, CoinTiger, VCC Exchange, and Upbit, and below are the top 5 trading pairs for SAND.

Source: CoinMarketCap

The Sandbox aims to bring blockchain into mainstream gaming, attracting both crypto and non-crypto game enthusiasts by offering the advantages of true-ownership, digital scarcity, monetization capabilities, and interoperability.

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