The Sandbox Tokens: $SAND

The Sandbox
Jul 25, 2019 · 6 min read

TL;DR: SAND is the ERC-20 token that is used within The Sandbox as the basis for all of the ecosystem’s transactions and interactions.

If you are looking forward to reading an article on the granular material blanketing the beaches, let me stop you right there. You’re in the wrong post.

$SAND, at least for us gamers and crypto enthusiasts, is the token that is used within The Sandbox, which follows the ERC-20 standard. However, before we can even get to discuss $SAND token, how it works, and all its versatile functions, we first need to analyze what a smart contract entails.

SAND Smart Contract

A smart contract is a piece of code that runs on a blockchain. The Sandbox is currently running on Ethereum blockchain, but we are working to support multiple chains in the near future. So why is it called a contract? Because it works like a traditional agreement; it is a computer protocol that enforces the performance of transactions without the need of a third party. As the code is kept in the Ethereum blockchain, it is immutable. For that reason, it is the perfect instrument to control valuable things, like Ether or other digital assets. The inventor of Ethereum, Vitalik Buterin, defined them in the Ethereum White Paper, where he explained that smart contracts are “systems which automatically move digital assets according to arbitrary pre-specified rules.”

So far so good… But what is $SAND then? $SAND is a Token. In case you don’t know, a token is a cryptocurrency that is hosted on top of an existing blockchain–in this case Ethereum–and it represents an asset that has a utility. In simpler words, tokens are like the coins you buy at an arcade to play video games. You can’t use a FIAT currency to play with those machines, so you buy special coins. Got it? That said, $SAND is the token that is used by gamers, developers and publishers throughout The Sandbox ecosystem as our main currency, with which you’ll be able to perform any type of interactions and transactions. Let’s get into the deets, shall we?

$SAND: so nice and smooth

How to acquire SAND?

Currently, players and creators have at their disposal a myriad of methods to acquire $SAND. They will be able to acquire it using their credit or debit cards, through the exchange of Ether, and players will even be able to earn $SAND tokens while playing the different games uploaded into The Sandbox ecosystem.

Discover all the different ways you can get $SAND in this article: https://medium.com/sandbox-game/how-to-get-sand-the-key-to-the-sandbox-virtual-world-b9d624eba148

$SAND has nothing to do with The Caribbean

As we mentioned above, $SAND implements the ERC-20 standard, a technical guideline that regulates the issuance and implementation of Tokens on the Ethereum Blockchain. This standard makes it easier for developers to predict with more accuracy the interaction between different Tokens and applications. It also defines how ERC-20 tokens are transferred within the Ethereum Blockchain.

Apart from that, $SAND implements the current draft of EIP-1776, a proposal we put forward to standardize native meta-transactions (see image below), which allow users of EOA based wallets (like Metamask) to perform actions on Ethereum without the need to own Ether — the currency that at the moment constitutes a necessary condition to perform a transaction in that blockchain. Through the use of ERC-1776, The Sandbox allows platform users to initate transactions on the Ethereum blockchain while transaction gas fees are paid by the platform, optimizing overall user experience.

Basic SAND functions (Yes, you can make castles with it)

Marketplace and In-game Currency

ASSETS and UGC Policies

On top of that, the system we created charges a small amount of $SAND to anyone who wishes to upload a new creation. This will deter potential low-quality asset creators from uploading mediocre creations since they might not earn back what they spent paying this fee.

Crowdfunding

Governance

$SAND is the main utility token within The Sandbox.

In the Metaverse of the future, where everything is new and improved, the currency should be as well. Will you be the first $SAND millionaire? Will you build your empire within this fantastic ecosystem?

Now that you know what $SAND is, make sure to check out our community at Telegram, Discord, Facebook and Twitter and join the discussion!

The Sandbox

A Decentralized Gaming Platform Made By Players.

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