Are people paying real money for make-believe land? You bet, they are! You can now buy land and houses using your cryptocurrencies. You can later sell your virtual property at a tidy profit or you can arrange for a mortgage on the blockchain.
You can go on a virtual tour of these lands and houses and even have a look at the houses that are being constructed on these digital lands.
Yeah! I understand. As newbies, it might take you a while to get comfortable with the idea of virtual real estate. But trust me, it is far from fantasy. It’s indeed a whole new world out there. It all seems like a game. But then again, it’s no child’s play.
As more and more people become aware of this latest and trending investment opportunity, the convenience and safety of using cryptocurrencies in this virtual real estate world, transactions are flooding in.
It was just a few months ago that crypto enthusiasts heard the news of Decentraland users spending $1 million on digital land. The Decentraland project hit the jackpot with their largest deal, a sale worth $215,000 to an anonymous buyer! The figures are surely mind-boggling.
Want a piece of this exciting action? Great!
First, you need to know where this promised land is and who is selling it.
To understand how this real-life game of buying virtual land, you need to know about the seller- namely, the SANDBOX, and their SAND and LAND tokens.
So, let’s get started.
Some Interesting History: What is Sandbox?
The Sandbox is a Blockchain game which has been selling virtual LAND parcels.
The Sandbox is a virtual world where users can play, create, animate, and monetize gaming experiences with fellow mates on the Ethereum Blockchain. The gaming platform has made over 50 partnerships with other gaming companies.
The Sandbox is well-known for the mobile hits, The Sandbox (2011) and The Sandbox Evolution (2016). Together, the two generated 40 million downloads across iOS and Android.
Later, in 2018, the publisher Pixowl decided to transform this mobile gaming IP into the blockchain ecosystem.
The aim of this transformation was to provide the content creators with complete ownership of their creations as NFTs. Additionally, the creators were rewarded for participating in the Blockchain ecosystem.
Sandbox has three products namely VoxelEditor, Marketplace, and Game Maker. These products allow users to get the copyright ownership of their content through blockchain technology and smart contracts.
Sandbox uses SAND, LAND, and ASSETS, to ensure a circular economy between players, creators, curators, and landowners.
Now, let’s try to understand these tokens better.
What are SAND Tokens?
SAND is an ERC-20 utility token used to transfer values and also as a basis for all the ecosystem’s transactions and interactions. The SAND token can be transferred any number of times between users. The transfer is done mainly for P2P transactions like the purchase or sale of LANDs or ASSETs.
SAND tokens are scarce, it means their value will increase over time. The total supply of the $SAND tokens is 3 billion units. Along with these features, users can stake $SAND inside games within The Sandbox to increase their chances of finding game resources.
How to Get $SAND?
The players and creators at SANDBOX have various methods to get $SAND tokens. A few ways to get $SAND are:
- Buying on Binance and other exchanges
- Exchanging ETH for $SAND on Uniswap
- The Sandbox Ambassador program
- Through Community Airdrops
- Earning $SAND through various Contests held
- Winning $SAND as rewards
Now, you may be thinking about what is LAND in the SANDBOX. Read on to find that out!
The LAND in SAND: What is LAND in The Sandbox?
A LAND is a virtual piece of real estate in the Sandbox metaverse. The Sandbox players can buy LAND to build experiences on them. When you buy LAND you can fill it with Games and Assets. LAND tokens are non-fungible tokens available on the public Ethereum Blockchain.
The Sandbox metaverse is a collection of a total of 166,464 LANDS. Its map has two different types of parcels, namely, LAND and ESTATE.
LAND: It is the basic unit on the Sandbox map. Each LAND adds up to 96×96 meters in the virtual world. With such a big size, LAND can enable all types of blockchain game experiences.
ESTATE: Multiple numbers of LANDs comprises an ESTATE. In the future, multiple players will be able to own ESTATES to form DISTRICTS.
Let’s talk more about it!
What Can You Do With LAND?
Owning a LAND in The Sandbox will provide you with various options like:
- Play & Create Games: When you own a LAND, you can customize, fill it with ASSETS, and make it a place to play, explore, or host friends for social experiences.
- Monetize From Your LAND: You can charge people for visiting your LAND or to play games on your LAND or sell your LAND at good profits after customizing it.
- Be a Part of the Metaverse Governance: When you are the owner of a LAND you will gain a voice in the governance of The Sandbox. Ultimately you will be a part of the future of The Sandbox.
- Earn Rewards: You can host contests and events on your LAND to get rewards for it.
Why Buy LAND Now?
When you own a LAND you build a gaming world that is totally under your control. You’re the owner of your LAND forever until you sell it off.
Purchasing a LAND in the first presale will get you a LAND at an early adopter discount. It means the buying process is carried out on a first come first serve basis. The sale price will increase with time. So, it’s always better to buy LAND at the earliest.
If you own a LAND, you can offer a gaming experience in The Sandbox. The first creators will have opportunities to create the first arcade game, the first puzzle adventure, etc.
A LAND owner will get the opportunity to be the FIRST to:
- Secure popular locations of LAND.
- Get an opportunity to be a part of the Sandbox gameplay.
- Host games or experiences on your LAND.
- If you host gameplay or rent a LAND, then you can earn SAND.
- Conduct contests and events on your LAND.
- Be a part of the metaverse governance.
What are Premium LANDS?
A premium LAND is an individual bundle of LAND that offers specific characteristics including the Premium ASSETS. The Premium LAND appears in yellow color on the map and has two main characteristics:
- Premium Location: A premium LAND is positioned near a Partner, an IP, or a TSB Estate. When your LAND is at such a location, it will attract more visitors.
- Premium ASSETS: Premium LANDS will have a bundle of ASSETS to begin game creation. While buying Premium LAND, buyers will also have 4 premium ASSETS.
A Premium LAND will have 1 Common, 1 Rare, 1 Epic, and 1 Legendary Premium ASSET. Each ASSET represents a unique set of attributes, behavior, and skins, which have limited availability of 200 copies.
Where I Can See My LAND?
The Sandbox Metaverse comprises 166,464 LANDS, in a map of 408×408.
- A total of 123,840 LANDS (∼74%) are available for sale.
- 25,920 LANDS (∼16%) are distributed among partners, creators, and gamers as rewards.
- 16,704 LANDS (∼10%) are the property of The Sandbox. These tokens are used to host special events, feature exclusive games, and ASSETS.
What is the Future of LAND Tokens?
- LAND DISTRICTS
When several players own an ESTATE it is called a DISTRICT. The DISTRICT owners will have the authority to set special governance rules that will affect all the experiences. With ESTATE, LAND owners can share a vision, a project, and build it together.
An ESTATE can become a DISTRICT only if:
- LANDS are adjacent
- There are 2 unique owners
- Each owner stakes some amount of SAND
- The approval of the DISTRICT has succumbed to a vote
RENTING LANDS: If you rent your LAND to Game Makers for them to use it, you can earn some sort of passive income. Also, the Game Creators can publicize and monetize games on LAND.
GAME MAKER: The Game Maker is a visual scripting tool where players can terraform a LAND and place elements and a logic layer to create games. There are three levels of complexity to create a game: Basic, Advanced, and Expert.
Frequently Asked Questions (FAQs)
1. What are Non-Fungible Tokens (NFTs)?
Non-Fungible tokens are unique, non-interchangeable ERC-20 tokens used to store crypto-collectibles such as arts.
2. What is a Wallet & How Do I Create One for Buying LAND?
A wallet is a medium for storing your LAND tokens. To participate in the LAND presale, you should create an account and connect either Metamask, Bitski, or Arkane wallets. Your LAND tokens will then be stored in this secured wallet.
3. What is the Cost of Buying LAND?
The public LAND sale will cost $48 USD. But, if you participate in the LAND Presale, you will get some discounts.
4. What are ASSETS?
An ASSET is the name of the tokens of Voxel assets. After uploading these assets into the Blockchain ecosystem, they are converted into NFTs.
5. What are ERC-20 Tokens?
ERC-20 tokens are the tokens created and used on the Ethereum platform. They can be shared, exchanged for other tokens, or transferred to a crypto-wallet.
Before You Go…
So, now you have a clear idea of virtual land selling. If you’re considering buying any LAND on the Sandbox platform, then go ahead and buy it after making sure you understand how this game is played.
It may indeed seem like a game, but the stakes are real. Your losses or gains can be significant.
Keep in mind though that $SAND is the exclusive payment method to buy LAND on the platform.
The earlier you jump into the bandwagon, the better, since purchasing LAND in presales will get you early adopter discounts. Considering the current hype surrounding it, the sale price is expected to increase drastically as time goes on.
You can sell them at a good profit or you can offer your own gaming experiences in the Sandbox by creating adventures, puzzles, or arcade games. The possibilities are limitless in this new and exciting virgin land of the virtual universe.