Blockchain gaming platform the Sandbox
The Sandbox is a leading blockchain gaming platform, where its virtual possessions have been obtained by Binance, the world’s largest Cryptocurrency exchange. Binance has bought 4,012 LAND tokens from the Sandbox, which indicates a unique virtual space in the Sandbox gaming platform, which can never be interchanged for other goods and assets.
The sandbox gaming platform allows the players to utilize the Land as well as Sand tokens for experiencing their fashion of gaming experience as well as to legalize their game.
The Sandbox allows the players to create digital assets, which are a non-fungible Tokens (NFT), and upload those to the marketplace and combine them with the blockchain game making industry. The players can own more than one LAND so that it becomes a real estate. The Sandbox metaverse is composed of a total of 166, 464 lands, which can be sold to the BNB users.
What does Binance do with the LANDS of Sandbox?
With thisSANDBOX, Binance stipulates some plans for organizing Social media gaming like NFT and also creates a gaming contest, so that the best LAND creators will be rewarded with LANDS. Using the Ethereum blockchain, the users will be able to perform transactions in the Sandbox. To enhance the user’s overall experience, the Ethereum gas fee is paid by the platform itself.
Demand for the gaming platform
The Sandbox has sold nearly $1,500,000 worth tokens in a presale event. Even before the beta release of the Sandbox in December 2020, the Sandbox has sold remarkable LAND tokens.This virtual gaming platform has been desired by many, thereby, during the first sale of LAND tokens, 3000 portions of LAND has been sold in 4 hours. As the demand increased, the LANDwas sold within an hour, which makes an incredible remark in the gaming industry.
The BNB users will be able to legalize the lottery time on the blockchain gaming platform, keeping 95% SAND as income utilizing:
Promoting the property: The BNS users will be able to produce and sell the Land as well as sand as NFT in the market place.
Possessing a LAND: The users will be able to buy the LAND in land sales. With the bought LAND sales, the user will be able to rent or organize the contents, to increase the LAND value.
Creating games on the Game maker: The players will be owning LAND, where they will have a game maker. Using the game maker, the players can build and legalize games.
From the report of Cointelegraph, it was found that during the presale of LAND tokens, the majority of buyers are from famous cryptocurrency companies like Dapp.com, CryptoKitties, Old Skull Games, and My Crypto Heros. The big shot partner of the Sandbox has been involved in creating blockchain versions, for typical games such as Pong, Centipede, and Asteroids.
Among all blockchain gaming platforms, The Sandbox stands out first, and it can also be proved, where there are 40 million downloads and above 1 million active monthly users. From the Sandbox launch pad, it was found, this blockchain gaming platform has contributed upto $3 million fundraise.
Sandbox token details that were sold
The sale of the SAND tokens was similar to the lottery-type, in which Binance coins sale was recorded from 2020/08/06 0.00 AM (UTC) to 2020/08/13 0.00 AM (UTC), summing upto 7 days. The BNB (Binance coin) for each user is calculated using the Daily Average balance calculation. The following are the sale details of Binance coins.
- Name of the Token: The Sandbox (SAND)
- Total supply of tokens: 3,000,000,000 SAND
- Hard cap at Launchpad: 3,000,000 USD
- The total number of tokens billed Binance Launchpad: 360,000,000 SAND (12% of Total Token Supply)
- Supported Sessions: BNB only
- Public Sale Token Price: 1 SAND = 0.008333 USD (price in BNB will be determined before the lottery draw date)
- Max Number of Winning Lottery Tickets: 15,000
- Allocation Per Winning Ticket: 200 USD (24,000 SAND)
Sandbox lottery timeline
- 2020/08/06 0:00 AM (UTC) to 2020/08/13 0:00 AM (UTC): In this period of the lottery timeline, the BNB balance of the users will be calculated in the hourly snapshots for every 7-days. So, the average BNB balance at the end of the 7th day will determine how much of tickets the user can claim.
- 2020/08/13 6:00 AM (UTC): During this period, the users can claim tickets, which will be open for 24 hours. Before this claim application, the users are instructed to claim, Token Purchase Agreement, which is the claim of the ticket by users only once.
- 2020/08/14 6:00 AM (UTC): During this time, the lottery begins, and at the same time closes the ticket claim.
- 2020/08/14 8:00 AM (UTC):During this lottery period, the winning tickets will be announced, and the user corresponding to that ticket, will be deducted with certain BNB. If the user has a winning account, they must ensure that they have sufficient balance in their spot exchange account, so that deduction of BNB will take place. The BNB in the following accounts such as fiat accounts, card accounts, margin accounts, lending products, etc. is not eligible for BNB deduction.
How many lottery tickets can the user claim?
Based upon the daily average BNB holdings calculated for seven days, during the claim period, the users will be able to claim upto a maximum of 10 lottery tickets.
- If your average daily BNB balance is between 50 to 100, the user can claim one lottery ticket.
- If it is between 100 to 150, the number of lottery claim is 2
- Between 150 to 200 average claims can lead to 3 lottery claims.
- If the average BNB balance is between 200 to 250, the number of lottery claims is 4.
- If the claim is between 250 to 300, then the number of tickets issued will be 5.
- If the BNB balance is between 300 to 350, the number of lottery tickets will be 6.
- If the range falls between 350 to 400, the number of claims will be 7.
- For the BNB balance between 400 to 450, the number of lottery tickets issued will be 8.
- If the range is between, 450 to 500, the number of lottery tickets issued will be 9.
- IF the average BNB balance is greater than 500, then the total number of lottery tickets claimed by the user will be 10.
A fee capture model is being followed by the Sandbox platform, where the players will be collected a transaction fee of 5% from the marketplace transaction fee. From LAND sales, Subscription services, and premium NFT, the remaining 95% of the LAND sales will be collected. The Foundation acquires a sum of 26.50% of all SAND transaction volume.
The sandbox products are:
- VoxEdit a 3D modeling tool.
- Marketplace aids the user to upload, publish, and sell their assets
- Game Maker builds 3D games for free.
Thus this article has given a deep insight into the blockchain gaming platform the Sandbox and the world’s famous Cryptocurrency Binance. Through SANDBOX the players can buy both LAND and SAND tokens to gain more experience legally.