The Sandbox and virtual reality have become popular ways to experience content. It can be used to create or consume content. A virtual event is one of the businesses that can be held in the Sandbox.
What is the Sandbox?
In early 2012, The Sandbox was released as a mobile game developed by onimatrix and Pixowl. In 2018, Animoca acquired Pixowl and announced its intention to use blockchain technology to create a 3D Sandbox-style world in which users can create content and earn tokens. There are three main components to the Sandbox: VoxEdit, Marketplace, and Game Maker. These tools allow users to create games easily and quickly.
How does the Sandbox Work?
The Sandbox is a decentralized virtual gaming world that operates on the Ethereum blockchain. It is a game in which players can buy digital plots of land, called LAND. The Sandbox allows you to create and experience content in a safe environment. This is helpful for people who are new to virtual reality or who want to test the content before they consume it. They can make the games available for others to acquire in an open marketplace. Artists and creators can create items using a system of tokenization. This system allows them to create anything they want by exchanging tokens for goods or services. In addition to SAND coin, LAND token(non-fungible token) is the proof of the ownership of digital plots of land.
What are the Token Types in the Sandbox?
The Sandbox uses several tokens to ensure a circular economy between all types of users who will interact with the platform, such as players, creators, curators, and land owners.
1. SAND. The ERC-20 token is used within the Sandbox as the basis for all of the ecosystem's transactions and interactions.
2. LAND. A digital piece of real estate in the Sandbox. Players have to buy LAND to populate it with games, assets and interactive experiences. Each LAND is a unique NFT lying on the public Ethereum blockchain.
3. ASSETS. A token created by players who create user-generated content and can be traded them on the marketplace, with their main utility being to serve as creative elements in The Sandbox Game Maker.
How Do Creators Generate Revenue in the Sandbox?
1. Create Voxel ASSETS. VoxEdit allows you to create, rig, and animate your own voxel-based NFTs in the Sandbox.
2. Build 3D games with the Game Maker using the LANDS for free in the Sandbox and contribute to a vast metaverse. Play GAMES to earn rewards. Build GAMES and to monetize them.
3. LANDS Sales. Buy a LAND during one of the LAND Sales from the Sandbox. You can either rent or populate them with content to increase the value.
Can Virtual Events be Held in the Sandbox?
EventX surveyed 1,500 event organizers and experts across large enterprises and SMBs in Asia about their views on event settings. Out of the respondents, 70% said they planned to host hybrid or virtual events in the coming year. The three most important elements needed for an online experience according to these professionals were "a digital footprint for analysis", "enabling digital transformation", and "provision of flexibility and variability". EventX has acquired a piece of land on the Sandbox in order to host virtual events in the metaverse due to the market demand. By building an event-focused digital world in the Sandbox, EventX is going to launch the metaverse-related solutions program that allows organizers and marketers to hold conferences and events, and create virtual experiences to shift from Web2 to Web3 in light of the emergence of the Sandbox.
Frequently Asked Questions about the Sandbox
Q: Do I need to buy LAND with SAND in the Sandbox?
A: Yes, since SAND is the basic currency within the Sandbox for all of the ecosystem's transactions and interactions. Also, you need some ETH so as to cover the Ethereum blockchain's gas fees which is not a constant amount (fluctuating in the market).
Q: Can I buy LAND in the Sandbox at any time?
A: No, you are not able to buy LAND at anytime you want. There is an official The Sandbox LAND sales that are held on the Map of The Sandbox website. The dates of sales will be announced weeks in advance to allow buyers time to prepare. Although you cannot buy LAND from an official at any time you want, you can purchase second-hand LAND from NFT exchanging platforms such as OpenSea and Rarible with a higher price than official sales.
Q: What are the positive impacts of moving virtual events to the Sandbox?
A: EventX surveyed marketers. Over 80% of the marketing professionals believe that holding events on the metaverse can have a positive impact on their organization's revenue. Running virtual events can help save a great deal of money, especially when compared to running traditional events. This is because virtual events require very little up-front investment, and there are no associated costs such as travel or venue rental. Additionally, since participants can attend the event from anywhere in the world, running a virtual event has numerous advantages over traditional ones.
Conclusion
The Sandbox is a new way to work and play with virtual reality. It addresses some of the issues with using virtual reality. It is a great way to create or consume content. It also has a high potential for business and marketing.
