Coin Spotlight
14 Dec 2021

The Sandbox (SAND) on Spotlight

Deepan Datta

If you are interested in the metaverse and NFT space, you should not miss out on The Sandbox. A crypto project cum play-to-earn game platform combines the power of blockchain, DeFi, and NFT into a 3D metaverse. 

SAND, the native token of The Sandbox, started the year 2021 at the $0.61 (₹46) level; it hit an all-time high level of $8.51(₹642.50) level on the 24th Nov 2021. A growth of over 13 times in less than 12 months. Currently trading at $5.19 (₹392), SAND is one of the top-performing altcoins in the metaverse space. 

Key Token Metrics

  • Coin Rank: 38th
  • Coin Market Capitalisation (as of 13th Dec 2021): $4.73 billion
  • Market Dominance: 0.21%
  • Coin Economics: Fixed Supply
  • Total Coin Supply: 3 billion SAND
  • Circulating Coin Supply: 705 million (23.5% of total coins supply)

Technical Analysis: The Sandbox Price Prediction

the sandbox

source: tradingview.com

On the daily chart, the SAND price has retraced down to 50% level of the Fibo Retracement indicator from the peak and has found strong support around the 50% zone, i.e., at the $4.66 (₹351.83) level. 

There is strong resistance at the $5.60 (₹422.80) level, which is also the 38.2% level on the Fibo Retracement indicator. If it breaks above with enough strength, SAND could reach the $6.70 (₹505.85) level with much ease, where it will find the next resistance. 

The overall investors’ sentiment looks weak on the RSI chart, which is moving down towards the oversold territory. If SAND fails to break above, we can see a further correction in the price that could pull it down to the $3.73 (₹281.65) level. 

Invest cautiously, as metaverse is the new emerging trend in the crypto market, and coins related to it can witness high volatility. 

A Brief About The Sandbox 

The Sandbox is a play-to-earn blockchain game built on the Ethereum blockchain. It allows players to develop and create their own games and various digital assets in the virtual world as NFTs on the Sandbox metaverse. Later, the players can upload them to the Sandbox marketplace, trade the NFTs in exchange for the SAND token, or integrate them into the games. 

Launched in 2011, Sandbox was initially a mobile gaming platform to rival Minecraft and was one of the most downloaded games worldwide. In 2018, its founders decided to explore the world of 3D metaverse on the blockchain and eventually launched the Sandbox platform in 2020. 

The Sandbox provides two free-to-use tools, VoxEdit and Game Maker, to allow players to create and develop their own games and virtual assets. 

VoxEdit allows users to create, rig, and animate their own voxel-based NFTs and sell them on the Sandbox marketplace. And, the Game Maker tool enables users to build 3D games without coding or need of any expert technical skills. The toolbox lets you bring your imagination to reality on 3D metaverse. 

SAND Coin Economics

SAND is the utility token of the Sandbox and is an ERC-20 token. It has a finite supply of 3 billion coins, and only 23.50% are in circulation. 

Being the utility token, the Sandbox ecosystem participants require holding SAND to play games, creating virtual avatars, NFTs, and trade them on the marketplace. Other utilities of SAND tokens include governance and staking, where holders can participate in governance decisions, use their voting rights, and stake their tokens to earn rewards. 

As per the token release schedule, Sandbox will release the entire supply of SAND by September 2024, of which 26% of the supply will be in company reserve, and 12% will go to the Sandbox foundation.

The Sandbox Future Growth Prospect

Sandbox is backed by some leading global VC investors, including Softbank, Blue Pool Capital, Liberty City Ventures, etc. Binance Launchpad also holds 10% of the total supply of SAND tokens. In a recent Series B fundraising round held on November 2021, Softbank has invested $93 million in the platform.

Speaking of its adoption, the metaverse and the Sandbox are truly making headlines. Adidas, the global sportswear brand, has purchased an estate that occupies 144 parcels in the Sandbox. 

The Sandbox has also partnered with American rapper Snoop Dogg to bring the entertainer to the world of the metaverse. As per plans, he will own his virtual land, build his mansion, and launch his NFT collection on the Sandbox marketplace. 

Gaming is a huge and untapped market. In 2020, the gaming industry generated $155 billion in revenue, and by 2025, it is expected to reach $260 billion.

As the gaming industry evolves, there will be a shift from walled-off data networks to blockchain-based games, where users can own different game components and trade with other players. And, blockchain-based gaming platforms like the Sandbox will democratise the gaming industry by letting users create games rather than a few gaming companies to develop and control the industry. 

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

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Deepan Datta

Content Writer

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