The advent of blockchain technology has grown so wide beyond financial instruments alone. The web3 and metaverse also continue to take the ground as the latest buzzword in the crypto space.
Since Facebook revealed its intention of building a virtual world, the number of metaverse platforms has grown considerably more. One of these platforms is The Sandbox, an Ethereum-based virtual world.
The Sandbox is the most popular gaming virtual world that provides a comprehensive and immersive virtual world experience for its users. The main selling point is the integration of products that can allow users to generate their content for sale.
This virtual world allows users to freely own and control their generated assets through blockchain technology.
In this article, you’re going to learn about various components of The Sandbox and, most importantly, its real estate landing system and how to invest in it.
An Immersive Metaverse With Sustainable Economy
The Sandbox is a virtual land of possibilities. It features a vibrant ecosystem economy that allows all users to interact with each other.
It features tokenized and non-fungible assets that include:
- $SAND token: This is the native and utility token of The Sandbox. All users can use it as the legal tender within The Sandbox for transactions and purchases.
- LAND: LAND in The Sandbox are Ethereum-based NFT assets that constitute the real estate economy of The Sandbox. Each LAND is a uniquely generated ERC-721 asset that represents a part of The Sandbox.
Players can generate extra income revenue with their LAND. We shall discuss that as we go on.
User-Generated Contents (UGC): Another important part of The Sandbox’s economy is UGC assets.
They are monetizable assets that are created by users in The Sandbox using the Game Maker.
Real Estate System in The Sandbox
LAND is the basic digital asset that constitutes the real estate system of The Sandbox. They provide an interactive and immersive experience that allows users to build and develop to generate revenue.
In other words, like real-world land, landowners in The Sandbox can build and populate their land with assets. LAND here is ERC-721 NFT assets.
There are 166,464 plots of LAND in The Sandbox. Each of these parcels measures 96 x 96 meters, which is big enough to accommodate all gamified experiences. It allows users to create revenue via games, rentals, and so much more.
Apart from LAND, ESTATE is part of the real estate system of The Sandbox. They are multiple LANDs that constitute ESTATE. This gives more room to create a bigger and better experience.
Apart from playing games and creating monetizable assets, owning a LAND in The Sandbox gives you a plethora of ways to earn rewards.
Buying LAND in Sandbox is a highly profitable investment. For one, you gain access to unlock several sources of income revenue.
Also, LAND assets always increase in value. If you’re lucky, your LAND can get close to another premium LAND.
To buy The Sandbox LAND, you can either use its The Sandbox Map that allows users to buy LAND assets during public sales. You can also buy LAND on secondary marketplace like Opensea.io.
Before you can buy LAND on The Sandbox, you must register and own an active account. To get started with The Sandbox, you must follow the steps below:
- Connect your wallet to create a new account
- Install software client
1. Connect your wallet to create a new account
Before doing anything on The Sandbox, new users must first register for a gaming account connecting to their wallet.
Supported wallets include Metamask, Coinbase wallet or Bitski.
To do this, visit https://www.sandbox.game.
Tap sign-in on the top right corner of the homepage. After this, you can connect your wallet to either create a new account or log in to an existing one.
Alternatively, you can connect sign in with your social media account if you have one.
Once you connect your wallet, you can continue by entering other details, including email and password.
That’s it. You’re set to start exploring the virtual world.
2. Install software client
The Sandbox is a PC-first game. To download the game client, go back to the homepage and tap PLAY.
This will redirect you to a link where you can download the game client.
Once the download is done, install the client by following onscreen instructions.
Finally, open and set up the game by following instructions within the app. Log in with your username and password to start playing.
How to Buy LAND on The Sandbox Map?
Here’s how to buy LAND within the Sandbox map.
- Buy $SAND tokens on Centralized Exchanges
- Add SAND token to Metamask
- Transfer $SAND tokens to your wallet
- Buy LAND
1. Buy $SAND and $ETH tokens on Centralized Exchanges
You can buy SAND tokens on several exchanges. It is highly recommended to use Binance exchange.
To get started, log in to your Binance account at Binance.com on your web browser. You can also open your Binance app.
On the Binance exchange, click BUY CRYPTO on the top left part of the homepage. Choose your preferred payment method and continue.
On the next page, choose the preferred cryptocurrency as USDT since SAND/USDT is available as a trading pair. Input preferred amount of USDT and complete purchase.
Tap CONTINUE and supply your payment details. Double-check the details and approve the transaction.
Once your transaction has been approved, you now need to swap USDT to SAND token.
To do this, go to Trade > Binance Convert. Select USDT as the token in the first section tagged ‘From.’ Then select SAND token as the one you are swapping to.
Enter the amount of USDT you want to swap to SAND. Review the transaction and approve it.
2. Add SAND token to Metamask
Open your Metamask wallet and copy its SAND deposit address to transfer SAND from Binance to your Metamask wallet.
To add SAND token to your Metamask, click IMPORT TOKEN and search for SAND. Once you see the SAND token, tap IMPORT.
Go back to your token list and tap SAND, then Receive. Copy the deposit address.
3. Transfer $SAND tokens to your wallet
Go back to Binance and go to Wallet > Fiat and Spot.
In front of your SAND token asset, click withdraw.
On the withdrawal page, input the deposit address and select ETH as the network. Input transfer amount and tap WITHDRAW.
Verify your phone number and email to proceed. Within five minutes, the deposit will reflect in your Metamask wallet.
4. Buy LAND
Once the transfer is complete, go to The Sandbox map at https://www.sandbox.game/en/land/.
On the map, you’ll have to be very fast since it’s usually a public sale. Choose an available LAND that suits your needs. Premium LANDs usually have gray or yellow colors.
Once you click on a LAND, you’ll be able to view its details, including price, size, or blocks. Click BUY LAND to proceed.
Approve the transaction in your Metamask wallet. You can also adjust the gas fee so that the transaction will go through as soon as possible.
Once the transaction has been executed, your transaction status will change from PENDING to CONFIRMED.
How To Buy Sandbox LAND on Opensea?
LAND is available on The Sandbox marketplace during public sales only. After the sale, you can buy your LAND on the Opensea marketplace.
Opensea is an NFT marketplace for Ethereum and Solana-based digital assets. You can buy, sell or mint NFT assets, including The Sandbox NFT assets.
Like a normal marketplace, buying NFT occurs in three ways; via auction, where you can bid on an asset, buy now, or make an offer.
Here’s out to buy LAND on Opensea:
- Fund your wallet with Ethereum
- Go to Opensea and connect your wallet
- Use the filter to search for your preferred LAND
- Buy your LAND that is on sale, in Auction or by making an offer.
1. Fund your wallet with Ethereum
The easiest and cheapest way to buy ETH is via CEX like Binance.
You can create a new Binance account by going to Binance.com on your web browser.
Follow the steps for purchasing SAND tokens above to buy ETH and send the Ether to your Metamask wallet.
2. Go to Opensea marketplace
After funding your wallet, navigate to Opensea.io and find the LAND you’d like to buy.
It is important to know that these LANDs are unique assets that have varying traits and attributes. Meanwhile, their characteristics also determine their price.
On the top right corner, click CONNECT WALLET to link your Metamask wallet to Opensea.
3. Use the filter to search for your preferred LAND
Once you get to Opensea, open the search box and look for ‘The Sandbox.’
In the results, look for The Sandbox, which carries a verification mark in front. This will ensure you’re purchasing the original LAND.
After seeing The Sandbox’s LAND collection, you can now filter out the LAND that suits your need.
First, you can choose items that you can buy immediately or the ones you can bid in action. You can also filter out based on price, items, listing time, amount of items, and so much more.
Once you’ve set your filter, you can go through the result and pick anyone you want.
You can check the location of your LAND on The Sandbox’s map. This is because the location and proximity of your LAND to a notable place or major organization determines its rarity and price.
4. Buy LAND
As mentioned earlier, there are multiple ways to buy an NFT asset on Opensea. You can either place a bid in an ongoing auction, make an offer, or purchase the LAND right away.
Buy LAND on Auction
To buy land in auction, simply place a bid before the end of the auction. You will see the remaining time beside the asset.
To proceed, click PLACE BID.
In the pop-up window, select currency as WETH or any other cryptocurrency you have in your wallet.
Input the amount you’d like to offer for the LAND. Once you’re set, tick the ‘Terms of Service’ box and tap PLACE BID.
Finally, approve the transaction in your Metamask wallet.
Once you place a bid, you can monitor the Auction and the offer it receives in the OFFER section.
Buy LAND right away (Buy Now)
If you cannot wait till the end of the auction or till your offer is approved, you can simply buy your LAND right away via the BUY NOW option.
To buy LAND right away on Opensea, filter out BUY NOW assets using the filter.
Once you’ve seen the LAND you want, click BUY NOW. On the new page that pops up, tick the box to agree to Terms of Service and click CHECKOUT.
A confirmation notification will pop up in your wallet. Sign the transaction to finally approve your purchase.
Once the transaction has been executed, the asset will be transferred to your wallet.
Make Offer
However, there are times when you find a LAND suitable for your need and the owner did not list the LAND for sale; you can put forward your offer to the owner.
If you find a LAND that has not been listed, click on MAKE OFFER.
A pop-up window where you can make an offer will appear.
Select the preferred currency and type the offer amount.
Choose the expiration time and date for your offer and tick the box in agreement with the Terms of Service.
Finally, tap the MAKE OFFER button to complete the offer.
Then, approve the transaction in your Metamask wallet.
Conclusion
The Sandbox is a great metaverse project backed by global venture capital giant Animoca Brands. It also boasts of a lot of partnerships with big firms across the world. Meanwhile, the project continues to grow with several innovative technologies set in place to improve user experience and boost Metaverse adoption.