April 2021; Sandbox's Record-Breaking Month

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

The crypto gaming industry, like a few other trends in the crypto space, is replete with unending opportunities for brands and players seeking to leverage blockchain technology and the booming global market. As part of a bigger plan to promote the crypto gaming industry, game studio Pixowl and gaming brand Animorca developed the Sandbox platform, a decentralized gaming platform on the Ethereum blockchain, the second-largest crypto platform, and the premier DApps network.

Released in May 2012 and available for PC in 2015, the Sandbox platform via a couple of unique features is out to make the gaming industry more exciting. Albeit in existence for years, the month of April 2021, according to the emerging platform, is a record-breaking one, with the platform achieving certain feats that were purportedly impossible.

At the top of these record-breaking events is the increasing number of LAND sales. The recently concluded Innovators LAND sale raked in over $4.5 million as reported by the platform. Sales from the secondary market combined with the Innovators sale brought in a whopping $8.5 million in April alone, a remarkable stroke of genius.

Sandbox And NFTs

Like a few trends in the crypto space, non-fungible tokens, fondly called NFTs have experienced a massive boom in the last few months, thanks to Mike Beeple’s EVERYDAYS; FIRST 5000 DAYS artwork sale which as reported by various news outlets cleared the path for artists to earn hugely from this market.

In a bid to gain from the NFT market, a Sandbox NFT marketplace was created. Launched in March, this marketplace according to the decentralized gaming platform will enable artists and content creators to monetize their works. Surprisingly, less than a day after the launch, over 1,314 transactions were executed with a total earning of $250,000.

Artists and content creators, since the launch, have raked in over 700,000 SAND, the cryptocurrency that fuels the Sandbox gaming ecosystem.

Besides reaching and surpassing these phenomenal achievements, the Sandbox gaming platform has, with players’ interest at heart, incorporated a myriad of features with an intent to improve gameplay.

On the Game Maker platform of Sandbox, new and improved features like external NFT images component, improved performance on a bigger screen, and mini-map [compass] have been integrated.

The SAND Token

On the Sandbox metaverse, SAND, the native token will enable users to seamlessly access the platform, stake on games, play games, and earn huge rewards and bonuses. Listed on over 14 exchanges as reported by the team behind this project, SAND is currently being listed on two more exchanges — Klever and Coinone.

In addition to that, the SAND Token, according to the project WhitePaper is also a governance token. SAND holders will have unreserved rights to vote for or against decisions to be made on the Sandbox ecosystem, key decisions included. Token owners can delegate voting rights to their choice players on the platform.

Sandbox will reward SAND token holders with 5% of the transaction fees. This bonus, however, is reserved only for holders that stake their tokens.

Piggybacking on the existing crypto gaming model, Sandbox seeks to introduce blockchain technology to the mainstream gaming industry, therefore attracting crypto and non-crypto gaming enthusiasts alike, keeping them intrigued through unique features like incentivization, interoperability, scarcity, true ownership, and decentralization. Through the Foundation feature, Sandbox will offer grants to incentivize players to create high-quality games and content.

Conclusion

With April 2021 being an exceptional month for the decentralized gaming platform, experts strongly predict that the current NFT boom may well set this platform on a path of global adoption.

Image Sourced from Pixabay

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.