The announcement of the play-to-earn alpha test and increasing demand for the SAND token has pushed the value of virtual land in The Sandbox to record heights. One land parcel now costs at least 3000 SAND or more than $10.000 at the current exchange rates.
Hype surrounding the metaverse pushes demand for virtual land up, as The Sandbox has seen its NFT trading volume increase 257% over the past 7 days. The gaming universe now registered $29.4 million in trading volume, with top sales going for $275.000 on secondary markets.
Land value in The Sandbox has reached new record heights. Individual land parcels now generally cost $10.000 to $15.000. However, adjacent land parcels can form an estate of 3?3 or 5?5 land parcels. The value of those estates will be even higher when it’s located closeby or next to a famous brand. The Sandbox already announced partnerships with The Walking Dead, Atari, Deadmau5 and Snoop Dogg.
We can compare The Sandbox with games like Roblox and Minecraft, which rely heavily on user-generated content. However, in The Sandbox they build an entire economy around this type of content, allowing creators to earn from the popularity of their content. Users can design characters, buildings and other assets, and sell them on a marketplace. Others can build entire games, deploy them on their land and let players enjoy them. Everybody who participates in the ecosystem of The Sandbox earns SAND tokens as a reward.
However, at the time of writing the world of The Sandbox isn’t available yet. Through the official website players can try out creations made by others, but this is far from the full experience. By the end of this month The Sandbox will launch its first play-to-earn alpha event. Allowing a few thousand gamers to play 18 game experiences and earn SAND tokens and NFTs in the process.
The Sandbox Alpha won’t be for everybody
Even though the entire community of The Sandbox has been waiting for this moment, the first play-to-earn event will only be accessible for those with an Alpha Pass NFT. The team will raffle 1000 of these NFTs to landowners, while the remaining will be given away through social media campaigns on Twitter and in their Discord.
The Sandbox Alpha will allow Alpha Pass NFT holders to play 18 different game experiences, with a new one unlocking every day over the course of 3 weeks. Only those with an Alpha Pass NFT can earn SAND tokens and NFT rewards.
All other players can access the social hub and 3 different game experiences. However, they won’t be able to earn SAND or NFT rewards. The alpha test will start on November 29th and will end on December 20th.
