The Sandbox is a blockchain-backed virtual space where users can play, create, buy, sell, and monetize their gaming experiences. The purpose of the platform is to unleash players’ creativity by allowing them to build the platform of their vision. The project was launched in 2011 by Pixowl, which was founded by Arthur Madrid and Sebastien Borget.
Successively, as per the whitepaper, the vital goal of the platform is to revolutionize the mainstream gaming space with blockchain-backed technology. The metaverse project has been deployed on top of the Ethereum blockchain. It makes use of the PoS (Proof-of-Stake) consensus mechanism. However, the platform has its own native token, SAND, a classic version of the ERC-20 token.
The Sandbox metaverse facilitates a digital piece of real estate called LAND. The objective behind the idea is to enable game developers and creators to design and monetize their virtual experiences. Players can lease and stake on their LANDs in particular. One needs to have sand in their wallet in order to make purchases.