What is The SandBox?
Do you remember Minecraft? The Sandbox resembles the emblematic video game, since in its beginnings it wanted to position itself as its direct competition. It originated in 2012 for iOS and Android as a virtual world where you can create characters with all the features you want and interact with other users.
However, something that made this game different is that it relies on blockchain technology to create a unique experience through the use of Non-Fungible Tokens (NFT’s) and SAND, the platform’s native token. This allowed you to monetize your game and get financial benefits for it. If you want know more about NFTs, we publish a report so you can understand them better.
This has made The Sandbox become one of the largest metaverses in the world, coveting its spaces in the virtual world. So much so that Republic Realm, a real estate investor in virtual worlds, paid a record price of $4.3 million for land in this metaverse.
realm posted who made this transaction because The Sandbox developed 100 islands called “Fantasy Islands”, with their own luxury villas, boats and jet skis. “It is a privilege and a great opportunity to introduce the Z and Alpha generations to this new world of virtual games that resembles Minecraft,” Janine Yorio, director of Republic Realm, said in the statement.
According to CNBC data, 90 islands were sold for $15,000 each on the first day, and are now reselling for more than $100,000. Currently, Sandbox dominates the market with 62% of land among the four platforms (Decentraland, CryptoVoxels and SomniumSpace).
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