User-Generated Content meets NFTs within The Sandbox
The Sandbox is a decentralized, community-driven gaming ecosystem where creators can share and monetize voxel assets and gaming experiences in the blockchain.
How we turn our vision into reality using NFTs!
In order to bring our user-generated content ecosystem to life, we must first offer a place for creators to showcase and sell their content. For this reason, The Sandbox will create an asset marketplace where virtual assets (published as Non-Fungible Tokens = NFTs) will be bought and sold for SAND, our fungible ERC20 token.
Non-fungible items are unique and can’t be replaced by another equal part or quantity, as explained in this article: https://medium.com/crypto-currently/the-anatomy-of-erc721-e9db77abfc24
The Sandbox marketplace will use smart contracts to oversee item auctions and transactions. This open market for creators and developers will allow for the free trade of in-game NFT assets between different platform users.
Additional benefits of this marketplace are that economic principles of supply and demand become automatically integrated into the system, allowing the community to determine the fair price of user generated assets.
The true strength of this marketplace, however, is that creators of such assets can finally generate true tangible real-world value from the voxel content they create.
Asset creator user-flow
Asset creators will first produce voxel-styled content either in our voxel editor or any other of our supported software.
ASSET creators will upload their creations in the following manner:
Once they have at least one of these voxel models ready, they will be able to upload a non-blockchain version of the model to the marketplace as a showcase asset.
The Sandbox NFT metadata
The metadata that a creator can define will be stored in the NFT on the blockchain and will be a combination of usual attributes, such as:
- Name & Genre: In order to better identify the ASSET being sold, and to help potential buyers in finding it in the marketplace, the ASSET will require a name and a genre.
- Description: The description allows creators to add specifications like size, model, potential uses, or even a short piece of fictional lore to the ASSET.
- Thumbnail: The marketplace will show what the ASSET itself looks like, so it will require several thumbnails to be made. Thankfully, we will include a feature in out voxel editor that will automatically generate these thumbnails for the creators.
- Price: The creator will have total control over the price the ASSET will have on the marketplace. This price will be set in SAND currency.
- Transaction Type: The creators will have two options from which to choose. They can either select “Fixed Price” to set a predetermined price in $SAND at which the creator wishes to sell the ASSET, or select “Auction”. In the auction style of sale, the price will descend from a set maximum to a set minimum during an established period of time.
- Duration: This will be the total amount of time that the ASSET will appear on sale on the marketplace.
The Sandbox NFT originality and user control
The Sandbox platforms offers to creator the full control over the copyright for his or her creation, and can also specify how it is to be used — e.g., as a unique item that can only be used once in a BOX (for instance, a special statue), or a common item that can be duplicated as needed (for instance, trees that together can make a forest).
The following additional metadata are unique to The Sandbox ecosystem:
- Number of Copies: If creators wish to, they will be able to sell more than one copy of their creation. To do this, they will just have to set this value greater than one.
- Number of Uses Per Copy: If the creator wishes to make the ASSET non-replicable inside a BOX, they can do this by setting the maximum amount of uses to just one.
In order to decentralize this process, the model will be uploaded to a IPFS network that will allow the model to be stored securely in the network. Once this process is done, we will automatically link the hash ID that the IPFS network provides into the token itself to relate the actual voxel model to the token.
After this process the creator will effectively have an ASSET token that represents their unique creation, and which he or she will then be able to sell on the marketplace.
Thanks for reading us and feel free to reach out if you’re interested to learn more about The Sandbox NFTs!