SAND, aka “SAND”, is the native token of The Sandbox Game project, a metaverse that recently announced the opening of Alpha Season 3, which we wrote about earlier.
The Sandbox SAND metaverse token is an ERC-20 token, meaning it was issued on the Ethereum blockchain. At the time of writing, the daily trading volume of the SAND cryptocurrency, according to CoinMarketCap, is about $185 million. The total issue is 3 billion coins, but the number of coins in free circulation is only 49% of the initial issue. The primary distribution of the token looked like this:
At the time of the launch of the launchpad on the Binance platform, 43.18% of the token supply was available for sale. 25.82% was the project reserve, 10% went to advisors, 19% went to the project team, and 12% was reserved for the Sandbox Foundation.
What is it used for?
SAND is the currency of The Sandbox Game ecosystem, as well as a governance token. Thus, Sandbox cryptocurrency SAND is used for:
- Carrying out transactions;
- Trading non-fungible tokens ( NFT ) on The Sandbox marketplace. NFTs are available for purchase in the form of plots of land, avatars, inventory, art, and other digital assets;
- Getting passive income. You can take advantage of the SAND token staking feature. Staking is carried out directly at The Sandbox. There are currently 2 options available for token holders. The first one is providing liquidity in the SAND-MATIC pair. At the end of August APR (Annual Percentage Rate) is 28.53%. And the second option is staking the SAND token, where the APR is 16.85%.
- Voting and decision-making within The Sandbox Game ecosystem, as the SAND token is a governance token. Voting is carried out thanks to the DAO ( decentralized autonomous organization ) structure.
The official launch of The Sandbox metaverse took place at the end of 2020. Then the price of the SAND currency at the ICO was only $0.008.
The upper limit of the value of the SAND token was the point reached on November 25, 2021, when the price of this cryptocurrency was $8.4. Since then, the excitement around the project has subsided, and at the moment SAND is trading around $1.
The lower limit of the SAND price was the point reached on 11/03/2020. Then the rate of this cryptocurrency was $0.03. However, it was much higher than its original cost.
Since mid-May 2022, the SAND exchange rate has been moving in the corridor of $1.4 – $0.8. Judging by the chart that formed the descending triangle, we can expect a change in the price of the asset in the near future.
Where to buy SAND?
Since The Sandbox metaverse is well-known in its segment and constantly evolving, getting SAND tokens into your portfolio is not at all difficult. You can purchase SAND with a credit card directly on The Sandbox platform or use a cryptocurrency exchange. The most popular ones are Binance, Huobi, Bittrex, KuCoin, Gemini, Bithumb, Poloniex, WazirX, and many others.
Where to store?
Since SAND is an ERC-20 token, that is, the most common token standard, the choice of wallets for storage is very wide. Any wallet that supports this token standard will work for you. Hot wallets include Metamask, Exodus, or TrustWallet. SAND can also be stored on cold wallets such as Ledger or Trezor. In general, if you are looking to purchase a SAND token, then it can be a good addition to your cryptocurrency portfolio, especially if you are looking to join the Sandbox metaverse.
Prospects for the SAND token
At the moment, we can say that all the previous experience of The Sandbox Game project was successful. Despite the general decline in the cryptocurrency market this year, The Sandbox metaverse continues to attract new users and grow into a community of players and fans.
Also expecting new explorable worlds, games, and new virtual concerts featuring Deadmau5 and Richie Hawtin in the third quarter of the year.
And in the fourth quarter, a mobile version is expected to be launched, which will probably be focused on the gaming experience and will attract many new partners!