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What is The Sandbox (SAND)?

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The Sandbox

In 2021 we have seen blockchain play-to-earn (P2E) games expand and reach new highs. Perhaps, the most most popular game was Axie Infinity, but The Sandbox has also been gaining traction during the last months of 2021. But what the Sandbox exactly is? 

If you do not know about this project, we are going to tell you everything you should know about The Sandbox, the SAND virtual currency and why it is now one of the most influential games in the blockchain market. Moreover, we will tell you how this digital currency behaved in the crypto market and why it is a key project in the industry. 

What is The Sandbox (SAND)?

The Sandbox is a relatively new blockchain platform through which the entire community can monetize voxel assets and gaming experiences. This virtual Metaverse is letting users play, build and also monetize other types of virtual experiences. 

The project is powered by a cryptocurrency that is called SAND and that lets investors have voting power. This is a feature that we find in many other cryptocurrency projects around the world. Furthermore, the token can also be used to pays for goods and services in the Metaverse, including non-fungible tokens (NFTs). 

The Sandbox blockchain currently consists of three different products that have been integrated. These products include the Voxel Editor, the Marketplace and the Game Maker. Each of them would be useful for different types of users. Basically, these products benefit users allowing them to secure copyright ownership for user-created content. 

The VoxEdit solution lets users create 3D NFTs to designers that work both on PCs and Macs. This tool makes it possible to create a wide range of animations for humans, animals and even items. Voxels can be manipulated through VoxEdit and designers can create a wide range of animations. 

The Marketplace is another pillar of The Sandbox. It also plays a very important role in this ecosystem and it has been incentivizing users to participate by buying and selling different assets and NFTs. The marketplace is a very important part of the Sandbox as it lets users engage on different buying and selling activities. 

Finally, the Sandbox Game Maker is another key element of this project as it allows game developers to build 3D games for free. It is up to your imagination to build the games you like for free. The interesting thing about that is that there is no coding required due to the accessible visual scripting tools that create unique 3D games in just minutes. 

The Sandbox is now letting users build, create and engage on different game activities, from creating games to designing their own NFTs and selling them in the open market. 

There are other things to take into account about The Sandbox, including the fact that there are SAND, LAND and ASSETS. SAND is the ERC-20 token that powers The Sandbox as an ecosystem. LAND is an ERC-721 non-fungible token that runs on the Ethereum blockchain and that represent online real estate. 

Finally, assets are tokens created by players that use the ERC-1155 standard and can be traded on the marketplace. These are the tokens used in the Sandbox Game Maker. 

The Sandbox (SAND) in the Cryptocurrency Market

Let’s now focus on how SAND has been expanding in the cryptocurrency market throughout 2020, 2021 and early 2022. We see that the first months in the market were not very positive for this virtual currency. Indeed, the price of the coin was quite flat throughout 2020. 

The coin was traded between $0.035 and $0.05 between mid 2020 and early 2021. As you know, things changed in early 2021. This happened because Bitcoin (BTC) and the entire cryptocurrency market were in a bull trend. During this time, The Sandbox was able to reach a local high of over $0.80 per coin the last days of March. 

After reaching this local high in mid-2021, the digital asset entered a new bear trend that pushed its price lower to $0.17. This was the lowest price for this virtual currency in recent years. At that time, the whole crypto market was moving lower and SAND was also pushed lower. Nonetheless, the project continued to expand and offer even better solutions to users in the cryptocurrency market. 

In July 2021, SAND started to move higher once again. It was able to recover its previous price and it has even reached new all-time highs after hitting $1 per coin in September 2021. As we can see, there has been a volatile trend for SAND over the last years, but they were able to use that on their favour. 

The Sandbox

Things continue to look very positive for SAND. Indeed, in November 2021, we say its price surging to $3 per coin. But that was not enough. The last days of November, when Bitcoin was also reaching new all time highs at $69,000, SAND was able to surpassed $8 per coin for a short period of time before starting a downward trend that lasts until today. 

Since that moment in late November 2021, the coin has been trending lower. Despite that, it remained quite stable and its price is still above $4 per coin. This shows how resilient this digital asset has been in recent weeks despite Bitcoin trying to fall below $40,000. 

Now, SAND is the 38th largest cryptocurrency in the world. It has surpassed other popular cryptocurrencies such as Zcash (ZEC) or NEM (XEM). It might be possible for it to continue growing in the future, but this would highly depend on the adoption for this coin and how The Sandbox expands in the blockchain and crypto markets. 

How to Buy SAND?

So, how to buy SAND? Is there any efficient way to do so? Of course that yes. The easiest way to buy SAND and any other digital currency in the market is by using a cryptocurrency exchange. These are platforms that support buying and selling of different virtual currencies and that let users create accounts and trade them through an online platform. 

Most cryptocurrency exchanges operate in a very similar way. That means that it should be quite easy for users to get access to SAND using traditional cryptocurrency exchanges. The process is standardized and you would be able to follow the next steps in most of the platforms you decide to trade in. 

First: Open a Cryptocurrency Exchange Account

The first thing that you should do is open a cryptocurrency exchange account. This can be done at any of the crypto exchanges that are available in your region. There are dozens of crypto platforms that would let you get access to SAND in just a few steps. 

If you have already decided which cryptocurrency exchange to use, create an account and verify it. This can take some minutes and you should be ready to start trading in this cryptocurrency platform. 

Second: Deposit Money

Now that you have a cryptocurrency exchange account and that you have verified it, you will have to deposit money. Make sure that before you select a crypto exchange you check whether they accept different types of payments and fiat currencies. This could help you get access to SAND using your local currency. 

Most crypto exchanges will let you deposit funds using debit and credit cards or bank transfers. The easiest method is through a credit or a debit card. 

Third: Buy SAND

After depositing funds you will be able to buy SAND and other digital currencies. It is up to you to select the trading pair that you want to use to buy SAND. If you deposited USD, then you might try to find a SAND/USD trading pair. If you deposited BTC, then a SAND/BTC trading pair would be ideal. 

You can also select between a market and a limit order. The limit orders would let you select the price at which you want to buy SAND. Meanwhile, the market order will execute your trade immediately at the best available price. 

Fourth (Optional): Withdraw your SAND to a Wallet

If you care about holding your digital currencies for a long period of time, then you should think about withdrawing your funds to a software or a hardware wallet. Remember that exchanges are usually very unsafe as they could be hacked. That means that your funds could get lost if you keep them on a crypto trading platform. With a wallet, you are able to control the private keys and make sure that they are stored in a safe place at all times. 

Where to Buy The Sandbox (SAND)?

There are several cryptocurrency exchanges where you will be able to buy SAND at market prices. These cryptocurrency exchanges include Binance, Bithumb, KuCoin, Huobi Global, Uniswap, Kraken, byBit, Gemini, Coinone and FTX, among others.

When selecting a cryptocurrency exchange you should make sure that you analyse the services that these platforms offer and how they could be useful to you. 

Binance, for example, is currently offering 9 different cryptocurrency trading pairs for SAND. These are Binance’s trading pairs for SAND: SAND/USDT, SAND/BUSD, SAND/BTC, SANDTRY, SAND/BNB, SAND/ETH, SAND/AUD, SAND/BIDR, SAND/BRL. 

Binance logo and motto BNB price prediction alternatives to Binance

These trading pairs represent 26% of the total trading volume for SAND around the world. Hence, Binance is definitely one of the best platforms for investors that want to handle large amounts of SAND. But there are other platforms that could also let you get access to this virtual currency. 

Bithumb, for example, is a Korean cryptocurrency exchange that lets users buy SAND using their local fiat currency, the Korean won (KRW). We see that this is the 5th largest trading pair for SAND in the cryptocurrency market. It handled in the last 24 hours a trading volume of 1.41% of the total SAND around the world. 

Huobi Global is also playing a key role in the cryptocurrency market when it comes to offering investors the possibility to buy SAND: This cryptocurrency exchange that operates in different jurisdictions is currently offering three different trading pairs: SAND/BTC, SAND/HT and SAND/USDT. They represent 1.76% of the total trading volume in the last 24 hours for this digital asset. 

Kraken, instead, has four trading pairs: SAND/USD, SAND/EUR, SAND/XBT and SAND/GBP. As you can see, this exchange is offering different fiat currencies for investors. However, the trading volume handled by this exchange is not as large as the previous ones. Indeed, this platform handles just 0.33% of SAND’s trading volume. 

KuCoin is also focusing just on one trading pair SAND/USDT but it handles 2.55% of the whole trading volume for this cryptocurrency. This shows that there is a real interest for trading this digital asset using KuCoin, one Binance’s main competitors in the market. 

We have also mentioned other exchanges, all of them are allowing users to get access to SAND through different trading pairs and liquidity. 

The Sandbox (SAND) Future in the Cryptocurrency Market

The Sandbox is one of the most promising cryptocurrency projects in the world. But what could happen with it in the coming years? There are many things to take into consideration about it. The first thing to know is that we have been in a bull market where Bitcoin and other cryptocurrencies have been moving higher for several years now. 

It is now a matter of time to see how The Sandbox is going to be working in the cryptocurrency market. It must show that it is able to offer solutions and valuable products even during bear trends. This is something that the project should be ready to offer to users. Hence, we just need to see whether there is going to be a larger interest from investors, something that could push prices even higher in the coming years. 

Final Words

The Sandbox is a blockchain project that has attracted the attention of thousands of individuals and developers from all over the world. The SAND cryptocurrency was also able to reach some of the highest positions in the cryptocurrency industry. Now it is a matter of time to see how this digital currency could behave in the coming years and whether it would be able to sustain the growth that it experienced in recent years. 

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