The Sandbox Review: Is it legit, safe and trustworthy for UAE citizens and residents?
The price of Sandbox has been moving about within a close proximity to its
prior 52-week high. In spite of the fact that the pattern of Sandbox appeared as
like it was getting ready for a rally after its breakout in September 2021, it
was unable to retain the momentum and instead hit its 50-day Exponential moving
average in the days that followed.
In the realm of cryptocurrencies, such volatility is not unheard of, but the Sandbox network does not receive nearly enough attention from the mainstream. Let's take a look at the forecast for the price of Sandbox over the next several years.
To put it another way, The Sandbox is a community-driven platform that allows content producers to monetise their voxel assets and gaming experiences on the blockchain. Participants or gamers in this online environment are referred to as "players," and the platform's utility token, SAND tokens, are the currency that they use to construct, own, and monetize their gaming experiences.
In addition, the decentralized platform makes it possible for both players and producers to own a piece of the game metaverse (referred to as LAND) and take part in the system's governance and economics by making use of the SAND utility token. The participants are able to generate their own digital assets, also known as non-fungible tokens (NFTs), and then upload them to the market place. After that, they are able to make their own game experiences with The Sandbox Game Maker by using the NFTs.
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It is safe to say that the concept of monetising the virtual world in-game assets is gaining market recognition as the future of gaming, especially in light of the recent news that Facebook is going to hire 10,000 European developers for the development of the metaverse project. This news has been making headlines recently.
What sets Sandbox apart from other platforms is that it bases its business operations on blockchain technology and has a decentralized organizational structure. Because of its structure, it provides the benefits of real ownership, digital scarcity, inoperability, and monetization potential.
The early adopters of the Sandbox metaverse concept will be the ones who take the greatest initial risk; yet, they already have plans in place to make a profit off of the idea. The stakeholder will have the opportunity to engage in the governance decision making process and other activities thanks to the SAND governance token. These SAND tokens may also be spent by the users or gamers to purchase LAND, which they can then either try to occupy in order to enhance its value or rent out to other users.
Additionally, staking is permitted on the SAND, which opens the door to the possibility of earning passive income from the LAND. Staking enables users to get prizes, including Gems and Catalysts, both of which are essential to the manufacturing of ASSETs. The SAND platform also incorporates a fee capture model. According to this model, 5% of the total volume of transactions conducted using SAND tokens is split evenly between the Staking Pool and the Foundation. Token holders who participate in the Staking Pool are eligible for rewards from the Staking Pool. The Foundation is a mechanism that encourages the development of high-quality material and games on the platform. This, in turn, promotes quality growth within the platform's userbase as well as among its content providers.
The Sandbox is one of a kind mostly due to the fact that it was the first game platform to implement blockchain technology. The gaming business is a massive sector that has the potential to produce profits in the billions and billions of dollars. The company's founders had the ambitious goal of building a world in which players would be able to generate and gather blockchain-based digital assets, therefore fundamentally changing the gaming industry. It carves out a particular section for itself in the gaming industry.
The Sandbox establishes a metaverse of participants who contribute to the evolution of the platform by putting an emphasis on user-generated content. This is similar to how any decentralized cryptocurrency governance would work. This is accomplished through the utilization of the SAND token, which is the utility token of the Sandbox. This token encourages governance and enables users to offer their perspectives regarding the evolution of the project.
The initiative places an emphasis on the decentralized benefits of blockchain technology. NFTs, or non-fungible tokens, are used to represent all in-game items and ensure that players and collectors retain ownership. Users have also demonstrated their interest by purchasing LAND in the virtual world during the first round of pre-sales, which will take place in December 2019. In the future years, it is anticipated that the Sandbox metaverse will experience a significant expansion.
The Sandbox will also provide holders of SAND tokens with the opportunity to participate in the governance choices of the platform through the use of DAO mechanisms. These mechanisms will let users to exercise their voting rights on important aspects of the Sandbox ecosystem. The CERTIK company has validated the smart contracts that make up the Sandbox, which contributes to an overall rise in confidence in the Sandbox ecosystem and its associated digital assets.
The Sandbox team has created two mobile games in the Sandbox genre, and both games have collectively garnered more than 40 million downloads. Both the crew and the community have shown an incredible amount of dedication throughout this process. This was demonstrated when the LAND tokens became up for sale and more than 15,000 people connected their wallets, which resulted in the sale of approximately $1 million worth of tokens being completely exhausted. The community is still expanding, with the number of users currently hovering close to 890 thousand.
Arthur Madrid is the Chief Executive Officer and Co-Founder of Pixowl. He is also the man behind the scenes of The Sandbox. The Pixowl was established in 2011, and ever since then, the team has been developing new features for the Sandbox by implementing blockchain technology in the metaverse.
The Sandbox has also secured more than 50 partnerships in order to develop the content that will be available on its platform. These partnerships include brands such as Shaun the Sheep, investors such as Square Enix (the company that was responsible for creating the popular Tomb Raider series), and iconic companies such as ATARI. The efforts of the team to cultivate a thriving ecosystem for the Sandbox and its users will be bolstered by the formation of these partnerships. The firm will also be able to grow its presence thanks to the strategic agreements, which will allow them to give exclusive admission to gamers using the goods of the partner companies.
The LANDs that make up the Sandbox metaverse are creative sandboxes that are controlled by gamers and allow them to customize and monetise their gaming experiences. Within minutes of the business making the public announcement that it was selling LANDs, around 23 percent of the map had been purchased, resulting in sales of more than one million dollars.
The company's goal is to offer a well-rounded experience for both the gamers and the people who make content, and one way it aims to do this is by making an ecosystem for content production available to users. In addition, the Sandbox gives its users the ability to protect their copyright ownerships with the use of smart contracts and blockchain technology.
There are three primary tokens that Sandbox employs in order to guarantee that a circular economy exists amongst all of the user accounts that engage with the platform. Within the Sandbox, the SAND token, which is an ERC-20 token, will serve as the foundation for all of the transactions and interactions that take place within the ecosystem. The LAND is a piece of virtual real estate located within the Sandbox metaverse. Players have the ability to construct their own adventures on top of the LAND by adding various objects to the environment.
On the open-source Ethereum blockchain, there is a one-of-a-kind token for each LAND (ERC-721). The ERC-1155 protocol is utilized by the participants in the creation of the ASSET token, which is a token. The primary function of this is to provide support for the Sandbox Game Maker, however it may be exchanged on the market. Non-fungible tokens (NFTs) are digital assets that cannot be split, exchanged, or divided in any way. These tokens also provide a guarantee of validity and security.
Utilizing the assets might allow the producers to generate income for themselves. It is possible to construct the assets in the Voxedit by importing them and then selling them as NFTs on the market. Constructing games with the use of LANDs on the Game Makers platform is yet another method for producing and monetizing it. Owning a parcel of land and then either selling or leasing it out as a place to live is still another method of generating revenue. The price will go up according to the rise in people, which will result in an increase in value for the owner of the LAND.
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After reaching a new all-time high throughout the course of the previous year, the price of Sandbox has continued to move in a negative direction. There were no sudden increases in volume that were noted, which prevented the price from dramatically increasing. Up until November of last year, the price of one SAND coin traded within a somewhat tight range. The price of the coin, on the other hand, has had a meteoric rise from the beginning of November 2021, reaching an all-time high of $8.44 as of this writing. After some time, the Sandbox coin was met with opposition, and its value dropped below $3 in January 2022.
After then, there was an abrupt increase in the price of SAND currency, although it was never able to break the $5 threshold. After then, the coin was rejected once again, causing its price to drop to $2.6. The price of SAND continued to move in a range that was roughly parallel to this range until the beginning of April. Later on, the price of Sandbox saw a large downward correction, which brought the price of SAND coin to about $0.90. On the other hand, the coin has been displaying a flattish trend since the 12th of May, and it now trades at roughly $1.2. The price of Sandbox has been hovering around $1.29 recently and is now trading below both its 50-day and 200-day Moving Averages.
It should be brought to your attention that neither major accumulation nor distribution is currently taking place. At the moment, the graph of the Accumulation/ Distribution indicator is moving in a direction that is trending flattish; nevertheless, this should not be taken too seriously. The RSI indicator is attempting to move closer to the value of 40.
According to the most recent price fluctuations, the Bollinger bands point to a very stable level of volatility. Before going long, traders should wait for the current trend to be confirmed. If you are an investor with a long-term horizon, it may be prudent for you to purchase the dips and gradually raise your position size towards the oversold price range.
The prediction for SAND is constructed using historical data in conjunction with predictive data modeling techniques for price estimates in the foreseeable future. The price forecast provided by Sandbox Crypto should only be viewed as investment guidance. Thank you for your attention to this matter.
Due to the extreme volatility of cryptocurrency markets, it is not feasible to accurately estimate their pricing. Traders, on the other hand, need to conduct their own study and check out cryptocurrency predicting sites before investing. Let's have a look at the price forecast for the Sandbox currency for the next five years.
The data model linked to SAND projections that is based on historical data suggests that the SAND exchange rate will reach an average price of $1.71 by the end of the prediction period. By the end of June 2022, the highest possible price will be $1.88, and the lowest possible price will be $1.60. According to the projections made by Sandbox, the cost of one unit of SAND is anticipated to fall to an all-time low of $1.61 by the time 2022 comes to a close. It is possible that the price of SAND will reach its highest level of $1.92 in the year 2022.
In the year 2023, the price of Sandbox SAND is expected to range anywhere from $1.74 to $2.07, with a low price of $1.74 and a high price of $2.07. This is based on the sentiment of the cryptocurrency market as well as our price estimate for SAND. It is anticipated that the annual average price will be close to $1.96 all throughout the year.
The data models that are relevant to the projection of the price of Sandbox SAND indicate that the lowest possible price level for Sandbox SAND will be $1.62. The minimum price will be $0.88 and the maximum price will be $2.36 in 2024. The average trade price will be about $2.
In the year 2025, the technical analysis and the Sandbox projection predict that the price of Sandbox SAND will range from a low of $2.27 to a high of $2.81. The lowest price level will occur in the year 2025. In the year 2025, the price will average out to be $2.52.
According to the SAND token price projection, the least price of SAND is likely to be $2.54, and the maximum price will be $3.70, while keeping the average price of $2.96 in the year 2026. The data prediction models reveal that the minimum price of SAND is predicted to be $3.70.
There is a very strong probability that the Sandbox will turn out to be a profitable investment choice over the course of the long run. According to our SAND projection, the value of the SAND token will continue to increase as the cryptocurrency community becomes more active in the metaverse. This will result in significant gains for several decades to come. The use of NFTs is also becoming more widespread; hence, this will have a beneficial influence on the price of the Sandbox.
Due to the fact that it experiences the highest trading volume of SAND, Binance is the most advantageous exchange. Gate.io and Uniswap are two other exchanges to consider when looking to purchase SAND.
According to the price forecast provided by Sandbox for the year 2030, the cost of SAND is anticipated to rise over the $7.24 threshold. It is anticipated that The Sandbox will cost a minimum of $6.41 by the time the year 2030 comes to a close. In addition to this, the price of SAND will succeed in reaching the highest possible price level of $7.34.
The current value of SAND in terms of its market capitalization is close to 1,587,602,708 USD. There are now around 1,227,664,778 SAND coins in circulation, with a maximum quantity of 3,000,000,000 SAND coins being allowed to be created.
The Ethereum blockchain, with its protected proof-of-stake (PoS) consensus process, serves as the foundation around which the Sandbox was constructed. As an ERC20 token, the SAND token gives its owners the ability to stake their tokens and reap the profits associated with doing so. The PoS consensus process makes it possible for a wide variety of applications to exist while also protecting the assets that have been staked.
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.