How to buy The Sandbox (SAND)
Beginner’s Guide
What Is The Sandbox (SAND)?
Launched in 2011 by Pixowl, The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox creates a decentralized platform for a thriving gaming community.
According to the official whitepaper, the Sandbox platform’s main mission is to introduce blockchain technology in mainstream gaming successfully. The platform focuses on facilitating a creative “play-to-earn” model, which allows users to be both creators and gamers simultaneously. The Sandbox employs the powers of blockchain technology by introducing the SAND utility token, which facilitates transactions on the platform.
How to Buy The Sandbox Summary
- Get a The Sandbox wallet (e.g. Ledger, Trezor , Exodus, Guarda, AtomicWallet)
- Find an exchange that sells The Sandbox (e.g. Crypto.com, Binance , Coinbase , Bitfinex , Kucoin)
- Deposit money and make the trade
- Withdraw the The Sandbox to your wallet
Buying The Sandbox in 3 Simple Steps
Step 1 – Get a SAND wallet
The Sandbox Hardware Wallets
The Sandbox is a blockchain-based virtual gaming platform that allows players to create, share, and monetize their gaming experiences using non-fungible tokens (NFTs). As with any blockchain-based platform, security is critical, and users must protect their private keys to ensure the safety of their assets.
Hardware wallets are one of the most secure ways to store and manage cryptocurrencies, including the SAND token used on The Sandbox platform. A hardware wallet is a physical device that stores a user’s private keys offline, making it much harder for hackers to access them.
The most popular hardware wallets that support SAND tokens are the Ledger Nano S and Ledger Nano X. These devices are easy to use and provide high-level security features, such as PIN codes, passphrase protection, and two-factor authentication.
To use a hardware wallet with The Sandbox platform, users must first set up their device, create a wallet, and transfer their SAND tokens to the wallet address. Once the tokens are stored on the hardware wallet, users can access and manage them using the device’s interface.
Overall, using a hardware wallet is one of the safest ways to store and manage SAND tokens on The Sandbox platform, as it reduces the risk of theft and unauthorized access to a user’s private keys.
The best option for storing any cryptocurrency would be to use a hardware wallet. These are pieces of hardware that store the private key to your coins offline.
Today, there are two leading hardware manufacturers to choose from – Ledger and TREZOR. Both companies have different models of hardware wallets that will get the job done.
If you want deeper insights on specific models, you can read my Ledger Nano X review or my TREZOR Model T review.
The Sandbox Software Wallets
In addition to hardware wallets, The Sandbox platform also supports software wallets for managing SAND tokens. Software wallets are digital wallets that are typically free and easy to use, but they are not as secure as hardware wallets since they are connected to the internet and vulnerable to hacking.
The most common software wallets that support SAND tokens are MyEtherWallet, MetaMask, and Trust Wallet. These wallets allow users to store and manage their SAND tokens by creating a wallet address and securely storing their private key on their device.
To use a software wallet with The Sandbox platform, users must first create a wallet by choosing a provider and following the instructions provided. Once the wallet is created, users can transfer their SAND tokens to the wallet address and access them using the wallet’s interface.
It’s important to note that while software wallets are convenient and accessible, they are not as secure as hardware wallets. Users should take extra precautions to protect their private keys, such as enabling two-factor authentication and avoiding sharing their keys with anyone.
In summary, software wallets are a viable option for managing SAND tokens on The Sandbox platform, but users should weigh the convenience of software wallets against the security provided by hardware wallets and make an informed decision based on their own risk tolerance.
Hardware wallets cost money, so if you’re not sure how serious you are about cryptocurrencies and just want to get a taste of what they feel like, perhaps you would be better off starting with a software wallet.
A software wallet is a free program that lets you store your coins on your computer or mobile phone.
The easiest The Sandbox coin software wallets to get started with are undoubtedly Exodus, AtomicWallet and Guarda . All wallets are very intuitive. Exodus, Atomic Wallet and Guarda is available on desktop for Windows, Mac and Linux, as well as on mobile for both iOS and Android. If you want more information you can read my Exodus, AtomicWallet and Guarda review.
Step 2 – Find an The Sandbox (SAND) Exchange
Buy Sandbox through Crypto.com
- Crypto.com is a cryptocurrency exchange company based in Singapore. As of May 2022, the company reportedly had 50 million customers and 4,000 employees. The exchange issues a token, Cronos. The company was initially founded in Hong Kong by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo in 2016 as “Monaco”. In 2018, the company was renamed as Crypto.com following a purchase of a domain owned by cryptography researcher and professor Matt Blaze. Domain sellers valued the domain at US$5–10 million.
Buy Sandbox through Binance
- Binance is a cryptocurrency exchange which is the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.
Buy Sandbox through Coinbase
- Coinbase is a convenient and cheap way to buy Ethereum and the platform is open to 200+ countries). Coinbase will sell you CRO for a variable fee that depends on your payment method (credit cards have a higher fee than wire transfers), order size and market volatility. Here’s how you buy Ethereum on Coinbase: Open a Coinbase account Add your payment method (Credit card or bank account) Go to “Buy/Sell” and select the amount of Ethereum you desire Click “Buy Cronos”
Buy Sandbox through Bitfinex
- Bitfinex is a cryptocurrency exchange owned and operated by iFinex Inc registered in the British Virgin Islands.Their customers’ money has been stolen or lost in several incidents, and they have been unable to secure normal banking relationships. Bitfinex was founded in December 2012 as a peer-to-peer Bitcoin exchange, offering digital asset trading services to users around the world. Bitfinex initially started as a P2P margin lending platform for Bitcoin and later added support for more cryptocurrencies.
Buy Sandbox through Kucoin
- Kucoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 8 million registered users from 700+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique ranking is in the top 5 globally. Known as the “People’s Exchange”, KuCoin operates in Seychelles, providing users with multi-language and 24/7 customer service. Meanwhile, KuCoin has established local communities all over the world in South Korea, Japan, Spain, Italy, Vietnam, Turkey, Russia, India, and other regions, providing users with the most local services. Currently, 1 out of every 4 crypto holders in the world is with KuCoin.
Step 3 – Withdraw Your Sandbox (SAND)
Once you decide on an exchange, open an account and buy your Sandbox. Make sure to withdraw the Sandbox from the exchange to your personal wallet.
Never leave coins on an exchange, as you risk losing them all if that exchange gets hacked or shuts down (which has happened in the past) and always double check address before send coins because you can send the coins to wrong address .
OVERVIEW
Who Are the Founders of The Sandbox?
Arthur Madrid is co-founder and CEO at Pixowl, and he is one of the driving forces behind The Sandbox. He graduated with a degree in economics from Université Paris Dauphine in 2000. Madrid’s professional career began as a consultant for Eurogroup Consulting France, but he soon found his entrepreneurial spirit. In 2001, he founded 1-Click Media, which was later purchased by Ipercast.
Sebastien Borget is also a co-founder at Pixowl and serves as the COO of the company. He graduated with a degree in computer systems networking and telecommunications from Institut national des Télécommunications in 2007. His professional career began as a project lead for 1-Click Media, and since then, Arthur Madrid and Sebastien Borget have been an entrepreneurial duo. They founded Pixowl in 2011 and have been continually working on projects together.
The Sandbox Play-to-Earn Model
The dynamic game was developed according to the Play-to-Earn (P2E) business model. It allows players to participate in the in-game economy, contribute and receive benefits in the form of digital assets (cryptocurrencies and NFTs). Thus, players are constantly creating valuable items that can be sold on the marketplace. The game not only unleashes the creativity of users from all over the world but also empowers them to shape the universe with NFTs.
The Sandbox is building a decentralized digital platform for a growing gaming community, combining Decentralized Autonomous Organizations (DAO) and non-fungible tokens (NFTs). In its universe, users can play the role of both creators and players.
The Sandbox Products
The Sandbox metaverse consists of three products. Game Maker is a set of tools that allows users to create and test 3D games on their LAND using ASSETS. The program enables editing game elements, such as environments or characters, and NFTs without requiring advanced programming skills.
VoxEdit is a free software for platform users. The application has been developed for 3D voxel modeling and creation of NFTs. Voxels are 3D pixels that can be edited and shaped via Voxel Editor. The VoxEdit tool offers players to create avatar-oriented equipment, like clothes, weapons, pets. It is also used to generate items for interaction on The Sandbox platform. Virtual items can be monetized as NFTs, namely moved from VoxEdit to The Sandbox Marketplace, turned into ASSETS, and then sold. All transactions are implemented in $SAND.
The Sandbox Marketplace launched in the spring 2021. The platform is an NFT marketplace where players can upload, release and sell their NFT creations (ASSETS) with SAND tokens. The InterPlanetary File System (IPFS) is used to store all information about ASSETS.
What Makes The Sandbox Unique?
The Sandbox is a unique blockchain-based virtual gaming platform that stands out from other gaming platforms in several ways. Here are some of the key features that make The Sandbox unique:
Decentralization: The Sandbox platform is built on blockchain technology, which makes it decentralized and removes the need for intermediaries. This means that players have full ownership of their assets and can directly monetize their creations.
User-generated content: The Sandbox is a user-generated content platform, which means that players can create and share their own content, including games, experiences, and virtual items. This opens up endless possibilities for creativity and innovation, and allows players to earn revenue by selling their content.
Non-fungible tokens (NFTs): The Sandbox uses NFTs to represent virtual assets, such as virtual land and virtual items. NFTs allow players to own unique, one-of-a-kind assets that can be bought, sold, and traded on the platform’s marketplace.
Play-to-earn: The Sandbox allows players to earn revenue by creating and selling virtual assets, as well as by participating in various gameplay activities. This creates a new economic model for gaming that rewards players for their time and effort.
Interoperability: The Sandbox is built to be interoperable with other blockchain-based platforms and games. This means that players can use their assets and creations across multiple platforms and games, giving them more control over their virtual assets.
Overall, The Sandbox combines the benefits of blockchain technology, user-generated content, and a play-to-earn economic model to create a unique gaming platform that is both innovative and rewarding for players.
The Sandbox Native Tokens
The Sandbox has several types of native tokens for interacting with the platform. SAND is an in-game currency and an ERC-20 token, which means holders can store and earn rewards for holding. SAND is a utility token, therefore it is essential for the implementation and facilitation of all types of transactions on the platform. In addition, SAND is a governance token, its holders can vote for changes through the DAO. SAND tokens can be used to purchase virtual plots of land, engage with NFTs, as well as to receive privileges.
LAND is an NFT-type token, or digital real estate element, that uses an ERC-721 non-fungible token standard issued on Ethereum. LAND allows users to monetize their gaming experience. Players can buy LAND for $SAND or $ETH through Public Sales, The Sandbox Marketplace, and other NFT platforms.
ASSETS are in-game objects, or NFTs, that are created by users themselves. Voxel models are made with VoxEdit and traded in The Sandbox Marketplace.
How Many The Sandbox (SAND) Coins Are There in Circulation?
There is a maximum and total supply of 3,000,000,000 SAND tokens. Currently, about 680,266,194 SAND tokens are in active circulation, which represents 23% of the total supply available as of March 2021.
Of the total token supply, about 25.82% was set aside in a company reserve. Another 17.18% were allocated for the seed sale of the token. The founders and team members secured about 31% of the total token supply distributed among them. Around 12% of the total supply were set aside for a dedicated Binance Launchpad Sale, and another 10% were dedicated as rewards to advisors on the project.
How Is The Sandbox Network Secured?
As the Sandbox virtual world is built on top of the Ethereum blockchain, it is secured by the proof-of-stake (PoS) consensus mechanism. The SAND token is a standard version ERC-20 token, which means owners can stake it and benefit from staking rewards.
Unlike the proof-of-work (PoW) consensus mechanism employed by the Bitcoin blockchain, PoS does not require vast amounts of electrical or computing power to validate transactions. It relies on stakeholders with the largest holdings in SAND tokens. The PoS consensus mechanism allows for a lot of diverse applications while still ensuring the security of staked funds.
Where Can You Buy The Sandbox ?
The SAND token, which is the native cryptocurrency used on The Sandbox platform, can be bought and sold on several popular cryptocurrency exchanges. Here are some of the exchanges where you can buy and trade SAND:
Binance: Binance is one of the largest cryptocurrency exchanges in the world and supports trading pairs for SAND with Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
Huobi: Huobi is a popular cryptocurrency exchange that supports trading pairs for SAND with BTC and USDT.
BitMax: BitMax is a global digital asset trading platform that supports trading pairs for SAND with BTC, ETH, USDT, and USD.
KuCoin: KuCoin is a cryptocurrency exchange that supports trading pairs for SAND with BTC, ETH, and USDT.
Gate.io: Gate.io is a cryptocurrency exchange that supports trading pairs for SAND with BTC and USDT.
When buying SAND tokens, it’s important to use a reputable exchange and take proper security measures to protect your funds. This includes enabling two-factor authentication, using strong passwords, and storing your tokens in a secure wallet, such as a hardware wallet.