The Sandbox is an Ethereum-based platform and gaming ecosystem that focuses on creating, sharing and monetising games and other assets. Its main premise is to disrupt the traditional gaming market, where user-created content is often owned, and profited from, by platforms.Similarly to Decentraland, Sandbox uses a DAO system. It also has its own currency – SAND – which, as of August 2022, has around 1.43B in circulation, and a market cap of €1.53B. Land is a finite resource on this platform, and the cheapest parcels start from 1.3 ETH, or around €1 700. In 2022, the platform peaked at 300 000 monthly active users and over 2 000 000 registered accounts. Most of its user base is between 13 and 24 years old.
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Sandbox boasts three main features: the VoxEdit, an internal tool for creating and animating 3D objects within the Metaverse; the Marketplace, where created objects can be published and sold as assets; and the Game Maker, which allows users to create 3D games on the platform. Apart from selling and buying land, these features are how Sandbox allows for monetisation – through either selling created 3D assets or creating games that cost SAND to play.
In February 2022, having purchased a plot of land, Gucci launched the Gucci Vault – an NFT gallery. The pieces featured in the first 3 drops came from almost 30 different creators and celebrated the 100th anniversary of the brand’s existence. Gucci also sells brander wearables and creates interactive fashion experiences on the platform.
The Warner Music Group LAND is the first music-themed world on Sandbox. Described as a mix between a musical theme park and concert venue, the world is going to host experiences with musicians signed to the label, such as Tiësto, Ed Sheeran or Dua Lipa.
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