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Sandbox – What is it?

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In 2021, the cryptocurrency market skyrocketed but of course every bull run is followed by a brutal crash. So, while the market turned bearish there were a couple of sectors that were strongly bullish. One of the bullish sectors was the blockchain gaming sector. Ethereum-based gaming tokens led a price rally that stands unrivalled. Since then, a lot of focus has been shifted towards such tokens. Today, we study one such token in details. Sandbox, what is it?

What is Sandbox?

Sandbox is a decentralized virtual world based on the blockchain of Ethereum. It is a blockchain metaverse where users buy digital plots of lands like LAND and build up their universe on top of it. Users can create, share and monetize the assets they create in the game. The aim of the network is to empower the users. Where in traditional platforms, users have limited powers, Sandbox is driven by the community. Users completely own the assets they create; hence, empowering creators.

The LAND token is a non-fungible token but the metaverse also has two other tokens operating. The first token is SAND which is used to facilitate transactions and buy LAND tokens. The ASSET token is another NFT which represents various other items in the game. ASSET operates on the ERC-1155 token standard.

VoxEdit is the component of the metaverse which allows users to create and animate objects in the game. The objects created over here are called ASSETs. The second component is the Sandbox Marketplace. Creators upload their files to the InterPlanetary File System to publish their assets into the marketplace. Lastly, the Sandbox Game Maker is utilized to create 3D games for free.

What is the future of SAND?

SAND had been operating at $0.03 before the start of the new year. The cryptocurrency has shown phenomenal growth as it skirted close to $1 during the high of the 2021 bull run. However, gaming tokens began to gain bullish momentum soon after the market crash. Sandbox has been moving upwards against the tide and broke the ATH established during the bull run. The current ATH stands at a price level of $1.20 recorded twelve days ago. At the time of writing, Sandbox stands at a price level of $0.74.

The future projections for the cryptocurrency are highly bullish. According to the estimates of Wallet Investor, SAND will be operating at a price level of $1.45 in a year’s time while the five-year projection places the cryptocurrency at $4.26. Digital Coin Price projects the year ending price to be at $1.11. The price by 2026 is expected to be at $2.51

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