The Sandbox Game to launch IEO on Binance Launchpad
August 5, 2020 — Binance Launchpad, Binance’s exclusive token launch platform for transformative blockchain projects — today has announced support for its third project of 2020, The Sandbox — a community-driven gaming platform that will allow creators to monetize assets and gaming experiences on the blockchain.
Disclaimer: This is the SAND public address https://etherscan.io/token/0x3845badAde8e6dFF049820680d1F14bD3903a5d0. The Sandbox team will never request your private keys or money.
A token sale will be the next step for the company to raise funds after receiving a private round investment from Binance Labs. The highly anticipated The Sandbox (SAND) $3M USD token sale on Binance Launchpad will follow a lottery-format ticket claim and start on August 13, 2020, at 06:00 am UTC (+0).
Our team is building a unique virtual world where players can build, own, and monetize their gaming experiences using SAND, the main utility token of the platform and Non-Fungible Tokens (NFTs). SAND holders will be also able to participate in governance of the platform via a Decentralized Autonomous Organization (DAO), where they can exercise voting rights on key decisions of The Sandbox ecosystem.
“Imagine a creative game world where anything you create and earn is truly yours — you could transfer it, sell it, or do anything you wish with your content, right at your fingertips,” said Sebastien Borget, COO and Co-Founder of The Sandbox. “That power is made possible within The Sandbox gaming metaverse by enabling our community of content creators, gamers, and virtual real estate owners to truly own all their digital content and creations using NFTs.”
Arthur Madrid, CEO and Co-Founder of The Sandbox, added, “Our strategic partnership with Binance and their ecosystem is a giant leap in bringing The Sandbox gaming platform to over 2.7 billion gamers, and advancing blockchain gaming one step further toward mainstream adoption and ease of access”.
“The potential of blockchain and cryptocurrencies reaches far beyond the financial sector. Given the readiness of the gaming industry in its continuous evolution, especially in new technologies where blockchain is becoming an essential part of game development and set to change the global gaming industry,” said Binance CEO and Founder, CZ (Changpeng Zhao). “We are delighted to welcome The Sandbox to the Binance ecosystem. We hope that together we will be able to spread the power of blockchain as the lead technology in the gaming industry”.
The Sandbox platform has secured over 50 partnerships with notable gaming companies such as Atari, CryptoKitties and Shaun the Sheep. Binance also took a decision to support the project by investing in the company through its investment arm, Binance Labs.
“The gaming industry is highly innovative and is constantly commercializing new technology to improve monetization models, security and engagement,” Gin Chao, Strategy Officer of Binance, commenting on the investment in the project. “The Sandbox is a great example of a revolutionary project that aims to bridge the gap between blockchain and traditional gaming”.
In 2020, two projects have successfully launched on the Binance Launchpad platform raising over 3.5 million dollars total.
Link to the Whitepaper: http://www.sandbox.game/The_Sandbox_Whitepaper_2020.pdf
Link to the Litepaper/One Pager: http://www.sandbox.game/The_Sandbox_One_Pager_2020.pdf
Link to Binance Research ’s in-depth report https://research.binance.com/en/projects/the-sandbox
What is SAND?
SAND is an essential part of The Sandbox platform and we are working on establishing key mechanics that makes it intrinsically tied to The Sandbox platform and its value. SAND is an ERC-20 utility token built on the Ethereum blockchain that serves as the basis for transactions within The Sandbox and has the following uses.
- Access The Sandbox platform: Players spend SAND in order to play games, buy equipment, or customize their Avatar character. Creators spend SAND to acquire ASSETS, LANDS, and Staking. LAND Sales drive demand for SAND to purchase LANDS. Artists spend SAND to upload ASSETS to the Marketplace and buy Gems for defining Rarity and Scarcity.
- Governance: SAND is a governance token that allows holders to participate in Governance decisions of the platform, using a DAO structure. They can exercise voting rights on key elements such as Foundation grant attributions to content and game creators and feature prioritization on the platform Roadmap. SAND owners can vote themselves or delegate voting rights to other players of their choice.
- Staking: SAND allows for staking, which allows for passive revenues on LANDS: you get more SAND by staking it. This is also the only way to get valuable Gems and Catalysts, needed for ASSET creation
- Fee Capture model = 5% of all transaction volume carried out in SAND tokens (Transaction Fees) shall be allocated with 50% to the Staking Pool as rewards for token holders that Stake SAND tokens and 50% to the ‘’Foundation.’’ A total of 26.5% of all SAND transactions goes to the Foundation.
- Foundation: The role of the Foundation is to support the ecosystem of The Sandbox, offering grants to incentivize high-quality content & game production on the platform. To date, the Foundation has funded over 15 game projects and granted 100 artists to produce NFTs ahead of the public Launch in December 2020. The overall valuation of the metaverse grows through the valuation of all games funded by the Foundation, creating a virtuous circle to enable funding for bigger games.
Token Allocation: Circulating Supply
During the period May 2019 to November 2019, The Sandbox completed a successful private placement round with 14 Investors for an aggregate amount of USD 3,410,000. The Seed Sale round was done through equity and token sale agreements, resulting in the total sale of 515,277,777 SAND which is equivalent to 17.18% of the total SAND supply.
SAND allocated to the Investors in Seed Sale and the Strategic Sale are 100% locked for 3 years vesting with 12 month cliff; while SAND allocated to the Founders, Team and Advisors are 100% locked for 5 years vesting and 12-month cliff.
TSB has also generated its first LAND presales successfully during December 2019 and July 2020. All LAND assigned for sale have been sold for over 6,000 ETH.
How to buy SAND
The Sandbox ($SAND) $3M USD token sale on Binance Launchpad will follow a lottery-format ticket claim and start on August 13, 2020, at 06:00 am UTC (+0). A total of 360 million SAND tokens (being 12% of total supply of SAND) will be made available for purchase at a price of US$0.0083 per token.
In the meantime, here’s a guide to get you ready before the announcement.
- Buying BNB — First users must hold BNB on their Binance account during the IEO period.
- BNB Recording— Lottery tickets will be given out based on the amount of BNB held during the recording period.
- Lottery Tickets — Based on the number of average BNB held during the recording period, users will be given lottery tickets.
- Lottery Draw — Lottery draw begins to determine the winners.
- Lottery Winners — Winning tickets are announced and the respective BNB will be deducted from the winning users’ accounts for the corresponding amount of $SAND. Please ensure you have sufficient BNB in your account to be deducted within 24 hours at the given date and time if you have a winning ticket.
PLAY. CREATE. OWN. GOVERN. EARN. Welcome to the metaverse!
The Sandbox decentralized platform allows players and creators to own a piece of our gaming metaverse (LAND), participate in the governance and economy (SAND), while creating and enjoying a simple way to benefit from their playing time.
In the coming year, our experienced and dedicated team will build an unique way to play in a virtual world where you can play, create, collect, earn, govern, and own anything in the game.
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