SAND price surge as Sandbox, a virtual property and gaming studio owned by Animoca Brands, announced a multi-week play-to-earn (P2E) Alpha event that will give players access to a portion of its Metaverse for the first time
Sandbox Announced a multi-week play-to-earn (P2E) Alpha event
Sandbox, a virtual property and gaming studio owned by Animoca Brands, announced a multi-week play-to-earn (P2E) Alpha event that will give players access to a portion of its Metaverse for the first time.
However, only a select few players will be able to fully appreciate the experience.
Users can monetize their time spent in the Metaverse by playing to earn in Sandbox’s virtual gaming area. Within the game, players can buy land and build NFTs, as well as complete quests to earn the Sandbox token (SAND). They can also use the token as a form of investment.
The event will begin on November 29 at 1 p.m. UTC and run until December 20, according to a Nov. 17 announcement from the firm. A limited number of 5000 users will have the opportunity to earn up to 1,000 SAND (approximately $3,500 at current prices) and three exclusive NFTs by participating in The Sandbox teams’ 18 experiences.
Get ready for The Sandbox Alpha!
Launching November 29th
Anyone can experience the Alpha hub and three experiences
5,000 Alpha passes giving access to content, NFT, and 1,000 SAND!
Get all details below https://t.co/63iAl5MMmS pic.twitter.com/OiXmbAWYN2
— The Sandbox (@TheSandboxGame) November 16, 2021
The three limited-edition NFTs will be available just at the event. They’ll include a medieval-style gate, a blue and black dragon, and a longsword, all of which can be used in the Sandbox Metaverse.
The Requirement for the Event
The Alpha Pass is an NFT ticket that gives 5000 people full access to the event. One thousand tickets will be given away in a raffle for Sandbox Landowners, and 2,250 more will be given away in daily social contests over the course of three weeks to Sandbox account holders. Between Nov. 29 and Dec. 19, these golden tickets will be available on OpenSea’s secondary market.
Without the pass, players will have access to three experiences as well as the Alpha Hub, a multiplayer gaming mode with a variety of locations and quests, but they will not be eligible for P2E rewards.
The floor price for Sandbox NFTs, according to OpenSea data, is around 1.019 Ether (ETH) worth $4,284 at the time of writing. Since late 2019, the total exchange volume has been 39,700 ETH ($165.3 million).
Animoca Brands co-founder and chairman Yat Siu told Cointelegraph that new users should take the time to carefully experience the Sandbox before purchasing tokenized land:
“I would recommend for people who want to experience it, you know, just go to the places, experience them, join the community on Discord, have a chat with them. See what it’s all about before you make the plunge to buy land, because you know, it’s like buying real estate anywhere in the world.”
“I mean, you’re not just going to New York and saying, ‘I’ll take that,'” he continued.
The Sandbox secured a $93 million Series B fundraising round spearheaded by SoftBank Vision Fund 2 at the beginning of this month. The project has been in development for four years, according to the company, and it will launch its Metaverse in “phased stages” in the future.
The money will reportedly be used to expand The Sandbox by creating new games and live experiences, as well as forming new partnerships with well-known brands and intellectual properties.
The price of SAND hit a new all-time high of $3.42 earlier today, according to Coingecko data. SAND has experienced a remarkable rise in 2021, gaining 8663.5% in the last year.
