Crypto games built on Blockchain technology grow in popularity more and more because they represent a significant attraction for users passionate about decentralized technologies and those who spend their free time playing video games. Unlike regular games, in this case, we can trade and use cryptocurrencies for several in-game purposes. We can receive rewards – something that may become a reliable source of income for some players, especially if they are from developing countries.
With the development of technologies and “play stations”, but also with the growing difficulty of games, adults started to prefer such a hobby. Furthermore, if we can monetize the time we spend relaxing and playing video games, it sounds like a dream becoming a reality. The future looks very optimistic for the gaming industry, especially for VR glasses or the Metaverse.
What is SAND?
As you’ve probably already guessed, Sandbox is an ecosystem based on Ethereum’s Blockchain, where we can monetize virtual reality. Unlike any other Metaverse project from the crypto sphere, Sandbox comes with new features that cope with the competitors. The platform offers extensive products and services, from a marketplace to a platform where games can be built. Its infrastructure greatly mimics a unique virtual universe with a 3D design, where users can create and share their virtual activities and adventures with others. Once Non-Fungible Tokens have been made, they can be uploaded online and used for in-game actions. The community governs the platform, and digital assets can be purchased with the SAND native cryptocurrency.
How does it work?
As stated above, this ecosystem works on the Ethereum Blockchain, where property owners can be tracked in real-time over the stored digital assets. All of this is public and open-source and follows how users use the tools and instruments provided by the platform. With the help of Game Maker, we can create our 3D games that we can test right away, and because it doesn’t require writing code, anyone can do it. As of VoxEdit, which is their software editor, it’s as intuitive and user-friendly as possible, and the interface resembles Mario, the vintage game.
The 3D design is not an easy task. It requires not only knowledge and an artistic sense but also technical skills and a vast experience in complicated programs used to create digital artworks. However, with the help of these voxels, we are not required to be experts in digital art to create avatars, in-game animals, plants, and simple landscapes. After these NFTs’ are built, we can sell them on the marketplace provided by the same ecosystem, or we can use them in-game.
Created games can be monetized too, and the more creative they are, the more players will attract. We can win rewards or rent properties by playing different games on the platform. Something exciting is that buildings can be decorated just like real-life apartments, and their value increases for every additional NFT.
How can we use SAND, the native cryptocurrency?
We can use the ecosystem’s tokens in various ways since these are utility coins. With the help of these ERC-20 tokens, we can fuel games. We can purchase all kinds of NFTs we need to build games or level up. Moreover, we can buy tokens or virtual land as an investment and become Estate Owners since virtual lands represent an attempt to bring the real estate market into the Metaverse. Thus, the ecosystem starts to incorporate all possible ways to spend our free time by monetizing it and encouraging users to earn extra cash.
Like any other Ethereum-based tokens, we can stake SAND to earn yield and earn other tokens that we need to create games, called catalysts. Half of the trading volume is allocated to the foundation for the platform’s marketing campaigns, and it’s no mystery that it has risen so much since it exists, SAND being one of the most traded coins in the crypto space. Last but not least, the currency can be used for governance rights when the platform will turn into a DAO – a Decentralized Autonomous Organization where members propose changes, vote on them, and make administrative decisions.
You can trade SAND, as well as other Metaverse cryptocurrencies, on Your Friendly Crypto Exchange. This signals that the cost of such digital assets is volatile, and the amount invested may fluctuate over time. As a result, cryptocurrency investment comes with financial risk and possible loss. IXFI advises you to consider this before investing.
Disclaimer: The content of this article is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial and fiscal circumstances.
Although the material contained in this article was prepared based on information from public and private sources that IXFI believes to be reliable, no representation, warranty, or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and IXFI expressly disclaims any liability for the accuracy and completeness of the information contained in this article.
Investment involves risk; any ideas or strategies discussed herein should therefore not be undertaken by any individual without prior consultation with a financial professional for the purpose of assessing whether the ideas or strategies that are discussed are suitable to you based on your own personal financial and fiscal objectives, needs, and risk tolerance. IXFI expressly disclaims any liability or loss incurred by any person who acts on the information, ideas, or strategies discussed herein.
