MEXC Global Research: The Blockchain Version of Minecraft-The Sandbox, A Metaverse Project

The Sandbox is a decentralized game platform that uses NFT and blockchain technology to empower creators, artists, and game players. It has three components: Voxel editing software, VoxEdit, the market, and Game Maker. Anyone can create and animate 3D objects through VoxEdit, and create games using in-game visual scripts. Its vision is to provide a virtual space where virtual worlds and games can be created without centralized authorization.

The Sandbox’s built-in games is similar to “Minecraft” in design and has certain programming functions. The purpose is to provide creators with better possibilities and tools, and let them have 100% of their own creation as well as provide players with opportunities to participate in the game and make money.

The Sandbox originates from the developer/publisher Pixowl. Previously, it has released two popular mobile games, The Sandbox (2011) and the Sandbox Evolution (2016), with a total of 40 million downloads on iOS and Android.

Core components

VoxEdit

VoxEdit is an easy-to-use multi-functional 3D voxel modeling and NFT creation package for PC/Mac, allowing users to create and animate 3D objects, such as humans, animals, vehicles, trees, tools and objects. Voxels are square 3D pixels similar to building blocks. VoxEdit can be used to create beautiful works quickly.

NFT Market (Market Place)

Sandbox’s NFT market allows users to upload, publish, and sell NFT works made with VoxEdit. The creation is first uploaded to the IPFS network for decentralized storage and then registered on the blockchain to prove ownership. It supports ERC-721 and ERC-1155 formats to publish their works, sell, or trade game assets created by the VoxEditor.

Game Maker

Sandbox Game Maker allows anyone to create 3D games for free and then build games in the plots of land. With the help of accessible visual scripting tools, they can be created without codes. These plots and the unique game experience created in them form the Sandbox Metaverse.

Game Assets

SAND: ERC-20 token，the ecosystem’s value circulation token.

LAND: NFT token, the digital real estate in Sandbox. Players can purchase land to fill in games, assets and interactive experiences. Each LAND is a unique (irreplaceable) token located on the public Ethereum blockchain (ERC-721).

There are a total of 166,464 LANDS in The Sandbox, with two different plots:

LAND: The basic sandbox unit on the map. Each LAND comprises 96 x 96 meters in the game world and supports all types of blockchain games.

Estate: An estate is a combination of multiple LANDs, which can provide creative materials for team creators.

(Asset) Voxel Assets: Tokens created by players who build/assemble user-generated content (UGC). The asset uses the ERC-1155 standard and can be traded in the market. Its main purpose is to serve as the creative element of sandbox game makers.

Main Playing Methods

LAND is the core of The Sandbox. Through LAND, you can create your own games and fill assets. Multiple pieces of LAND can be combined into a manor, with a total of 166,464 pieces of land available for use.

Game construction can be carried out through LAND, and the payment mode can be adopted. At the same time, LAND can be used to participate in mining to obtain passive income, including GEM and CATALYST. You can also lease the land, form a community, participate in governance, etc.

ASSET voxel assets can only be uploaded to The Sandbox market through VoxEdit. After filling in the asset details, such as name and description, users can define GEM and CATALYST of ASSET and assign them predefined behaviors (such as citizens, prey, enemies, etc.).

GEM and CATALYST define the grade, scarcity and attributes of assets, which can be obtained through LAND staking or market purchases.

Ways to Earn Income

Users can monetize their time on the platform in the following ways and retain 95% of SAND as revenue share:

Selling assets: Users can create and sell assets in the market as NFT.

Owning a piece of land: Buy a piece of land in the land sale and increase the value of the land by leasing or filling.

Game creation: Use the role of a game producer on the land owned by the player to create a game and earn profit from it.

By using the ERC-1776 standard, The Sandbox allows platform users to initiate transactions on the Ethereum blockchain, and the platform pays the transaction’s Gas fee.

The 5% transaction cost of any purchase made using SAND in The Sandbox ecosystem is divided back to the foundation and Staking rewards. The remaining 95% of the transaction value comes from LAND sales, premium non-financing sales and subscription services.

Tokenomics

Ecosystem’s governance token: SAND

Total supply: 3,000,000,000 tokens

Seed Sale: 17.18%, locked-up for three years, a 12-month observation period

Strategic Sale: 4%, locked-up for three years, a 12-month observation period

Launchpad Sale: 12%

Foundation: 12%

Founders and Team: 19%, locked-up for five years, a 12-month observation period

Company reserve: 25.82%

Advisors: 10%, locked-up for five years, a 12-month observation period

Practical Value

Value Analysis

Land auction

Trading NFT assets (LAND, ASSET, NFTs)

Participate in liquidity mining

Participate in The Sandbox Metaverse governance

Play partially paid games

Used for Play to Earn rewards

Pay to invite artists to design ASSETs

Risks and Warnings:

The concept of Metaverse is relatively new

The land is owned by individuals/capitalists, the content deployment authority belongs to individuals/communities, and the creative ability and creative rights are separated.

The threshold of the Play to Earn mode is relatively high

Token distribution is relatively centralized

Partial cash out by the the team and the foundation