When the timer runs out on Wednesday, The Sandbox will convert all unsold premium land parcels to regular land parcels. In addition they will burn the unsold NFTs that bundled with the premium land parcels. At the moment a couple of hundred premium lands are still available for sale, with 22 hours on the clock.
The land sale started last week, and premium lands cost 4,866 SAND tokens. When the sale started that was $3,271, but now the value of SAND dropped. The current price is $2,471. However, that’s pretty steep if you’re looking to buy some land. Especially considering that a piece of land on OpenSea costs 0.66 ETH or $1,452.
When the premium lands convert to regular land, the NFTs will be burned. That means that NFTs already on the market, will become more scarce. The regular lands will go for sale on April 22nd at 1pm UTC for 1,011 SAND per parcel. That’s $511, and therefore seemingly a good buy opportunity.
The current land sale has already been good for $5.9 million in revenue for The Sandbox. They sold hundreds of premium lands. However, the biggest money generators were the auctioned estates. Some of those sold for hundreds of thousands of dollars. And estate consists out of multiple land parcels, and the smallest estate is 3×3 parcels in size.
What is The Sandbox?
The Sandbox is one of the blockchain-powered virtual worlds currently in development. The virtual world of The Sandbox consists out of lands, and voxels fill up each of those lands. Visually it will remind many gamers of Minecraft, as both games have this Lego-inspired look to them. However, players are able to buy virtual land and implement any form of monetization. These virtual lands can become mini-games, adventures, virtual shops, extensions of actual webshops, a space for social gatherings, and so on.
The Sandbox is providing free tools for developers, gamers and content creators. Creators can use VoxEdit to make voxel objects. In addition the Game Maker allows users to create interactivity on their virtual land. The Sandbox will also create a meta gaming experience. Players can for example do daily quests or weekly quests for their guild. This will earn players SAND, which they can sell or use to buy in-game items or virtual land. Owning land in The Sandbox will allow users to monetize it. They can create and publish games, open virtual shops or organize events.
Over the past twelve months The Sandbox has been setting up all kinds of partnerships. Think about Care Bears, The Smurfs and Atari. In addition they’ve created a game fund to stimulate developers to create unique games within The Sandbox. Hack The Tao, Mushroom Mania, Planet Rift and Dethrone are some of these indie games.