Users who join the liquidity mining program for The Sandbox, can now also earn NFT rewards. In the coming months liquidity providers of the SAND-ETH pool on Uniswap can earn 1,5 million SAND in rewards, while stakers also have a chance to earn an exclusive Golden Key NFT.
The purpose of this Golden Key is still a bit of a mystery, but The Sandbox wrote in their announcement post that this NFT will ‘open the way to money other NFTs in the months to come’ and it will ‘unlock rewards in the staking program’. The blog post suggests that the key is for those who stake SAND-ETH pool tokens in April.
My take on this, they key is the first of many more exclusive rewards for liquidity providers. Some of those NFTs rewards, for example the key, will provide a liquidity mining boost. We’ll see whether I’m right when the Golden Key becomes claimable on the NFT page of The Sandbox.
How to earn those NFT rewards?
- Make sure you own ETH and SAND tokens in the same wallet. Let’s say $600 in ETH and $500 in SAND tokens. Why such a high amount? Because this liquidity program runs through Uniswap, and you will need to make some expensive transactions. This is also why you’d need that $100 extra in ETH, to cover any fees.
- Go to Uniswap, make sure you’re connected with the right wallet in your Metamask.
- Click “Pool” and then click “Add Liquidity”
- On the input screen, select the right amount of ETH and the right amount of SAND. Make sure you leave enough ETH to cover transaction fees.
- You will need to approve your wallet to spend your tokens (this costs ETH!)
- When everything is approved and confirmed. Click Supply. (this costs ETH!)
- Confirm the transaction in your wallet. Wait a bit. And you will have ETH-SAND Uni LP tokens in your wallet.
- Now go to the Staking page on The Sandbox. Connect your Metamask wallet to the website!
- Click the Stake button, select the MAX supply of your UNI-V2 tokens. And press confirm.
- Again you will need to pay for a transaction. (this costs ETH!)
- Now you will start earning SAND rewards. If you own LAND in The Sandbox, a multiplier will be applied to your SAND rewards.
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. We’re sure co-founder Sebastien Borget has more surprises up his sleeve in the coming months.