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Sandbox, a blockchain-based virtual world developed by Pixowl and where the native SAND coin serves as the platform engine, is under concerted scrutiny of retail investors amid a number of fast-paced developments.
As a refresher, Sandbox is in many ways similar to the popular mobile game Minecraft. After all, players can interact with each other in the virtual world and use a number of resources to perform specific tasks. Additionally, creators can monetize their voxel (a 3D pixel) ASSETS – in essence, NFTs – and gaming experiences on the blockchain. The platform currently features three products: VoxEdit, Marketplace, and Game Maker. VoxEdit is the software that enables the creation of voxel ASSETS or NFTs. These are then imported into the Marketplace where all such NFTs are traded. Finally, Game Maker is a scripting tool that allows for the creation of 3D games and incorporation of NFTs into the gameplay.
Sandbox’s native SAND coin is an ERC-20 utility token built on Ethereum. The token is used as a medium of exchange, allowing players to collect SAND through gameplay and then spend the coin to purchase equipment, customize avatars, etc. Creators can spend SAND to acquire ASSETS and LAND. Artists can also spend SAND to upload ASSETS or NFTs to the Marketplace and buy GEMs for defining item rarity. The SAND coin also bestows voting rights for governance decisions. Finally, users can stake SAND tokens to earn rewards, as well as GEMs and CATALYSTs for ASSETS creation. For more information, head to this page.
This brings us to the crux of the matter. Retail traders are hyped up about two upcoming developments. First, the Sandbox Alpha – an open multi-week Play-to-Earn event – is expected to launch on the 29th of November. The event will give 5,000 random players the opportunity to earn up to 1,000 SAND coins and 3 NFTs.
Additionally, Sandbox floated the idea of a possible partnership with Adidas on the 23rd of November. The response from Adidas has, so far, been encouraging, as evidenced by the following tweet.
adiVerse anyone? 🤔
— adidas Originals (@adidasoriginals) November 22, 2021
As is evident, should this partnership materialize, it would result in a lucrative windfall for both parties, thereby strengthening the bull case for the SAND coin.
Sandbox’s SAND coin is currently ranking at the number 2 spot when it comes to attention on the crypto sphere from retail investors. Since the 22nd of November, the coin is up over 80 percent. Given the upcoming bullish stimuli, the path of least resistance for the SAND coin remains upward.