Cryptheory: NFT, Play-to-Earn, Crypto News

24/7 crypto news, cryptocurrency meaning, guides, learning, #cryptohelpschildren

The Sandbox (SAND) ranked #1 gaming cryptocurrency

3 min read

 

Aim of the blockchain game The sandbox it was initially, the very successful game Minecraft to compete. Essentially, the two games still look very similar today, but the structure and philosophy are fundamentally different. Because the developers of The Sandbox say they have the mission to give their followers full power over the game. The idea is that the items required for the game are first created by the players themselves. There is also the “Voxel Editor”. On this, the sandbox players create their 3D animated objects as NFTs in the ETH standard. Once created, there are two options. Either you put your item up for sale on the in-house marketplace or you use it for your own avatar in the game. The Voxel Editor is now localized on the ETH sidechain Polygon. This enables faster transfers with lower transaction fees.

So far, access to the platform has been severely limited. Only Alpha Pass users could use the environment. That should change with the newly proclaimed season 2 to change. The platform has been publicly accessible since March 2nd. If you want to find out more about this, we recommend the next issue of the magazine – BTC-ECHO editor Giacomo Maihofer has examined the game in detail.

According to etherscan there are currently 128,291 addresses holding SAND tokens – and the trend is rising.

SAND Tokenomics

There are several ways to get possession of SAND tokens. Either you buy them on a listed exchange or you win them in the game itself – this is called play-to-earn. The SAND tokens serve to ensure the security of the underlying Proof-of-Stake (PoS) network. As in classic PoS platforms, participants can earn more SAND tokens through consensus. At the same time, they can use their stake to vote on the instructions within the network.

So far, the total supply of SAND tokens is capped at 3 billion. This means that the network could become deflationary at a later date. However, SAND is currently trading at a remarkably high inflation rate of around 27 percent – just imagine what would be going on at the European Central Bank if the EU were to record such a level of inflation. But even in the crypto space, this is a very decent ratio of the predicted liquidity in 12 months to the current token supply. For comparison; BTC listed an inflation rate of around 1.7 percent, while ETH is currently at around 0.5 percent written down.

Nevertheless successful

After a rapid increase in the past week written down SAND ahead of Axie Infinity’s AXS as the #1 blockchain gaming cryptocurrency at the time of writing.

In the wake of the same price increase, SAND also slipped into second place among the Metaversum currencies. The token is only outperformed by Decentraland (MANA).

One reason for this price increase may be the increasing number of users, as Season 2 makes the game accessible to the masses. Another explanation is that Snoop Dogg’s involvement has made waves. The first Snoop Dogg level in The Sandbox has been playable since March 16th.

Since February 2, 2022, 10,000 Snoop Dogg avatars have already been purchased via the trading platform. However, whether the brand ambassador Snoop Dogg will be enough to surpass Minecraft’s market power can only be guessed at. It won’t be easy, however, because Minecraft is the best-selling computer game of all time with over 235 million copies.

How far will the Greens go?

Leave a Reply

Your email address will not be published.