100m the sandbox 86myordanovadappradar5/15/2023 Renowned brands and individuals own several estates inside this metaverse. Source: The Sandbox Location is king in The Sandbox For reference, during the recent Metavex sale, the winning bid for the Metavex Medium land was 215,000 SAND or around $630,000 USD, while Small estates were auctioned for 45,000 SAND or $130,000 USD. Finally, Medium and Small plots constitute the most accessible opportunities to own estates, and are available at public sales. Lands of this size cover more than 12% of The Sandbox’s map and boast renowned holder names including Atari, Pranksy, Cyber Kongz, Binance (3), Ubisoft, Socios, TWD, Gemini, Coinmarketcap, Meta Key, Republic Realm (2), Warner Music Group, and South China Morning Post.Įstates with a 12×12 size contain 144 adjacent LANDs and are owned by renowned names like Adidas, Snoop Dogg, CryptoKitties, Ultra, Smurfs, Care Bears, and GuildFi, among others. There are 35 XL lands in total, with 13 of them owned by The Sandbox. The largest size (XL) for adjacent lands is 24×24, comprising 576 LANDs. The world of The Sandbox (Source: The Sandbox)Īdjacent 1×1 land plots can be grouped in The Sandbox to form estates of different sizes. Its owner can build and modify the parcel or rent it out for other players to publish their own experiences.īesides monetizing experiences, LANDs in The Sandbox have other use cases, including staking to generate passive income and governance voting rights. Each LAND comes with a predefined terrain of 96 meters in width, 96 meters in length, and 128 meters in height. The current floor price brings the floor market cap of The Sandbox lands to $1.27 billion.īut what exactly is land inside The Sandbox? A LAND is actually an NFT acting as a digital piece of real estate where creators can build experiences on top. The floor price for Sandbox LANDs has gone from less than 1 ETH in Q3 2021 to an all-time high of 5 ETH in January to a consolidated level of 3 ETH at writing. Ever since, demand for virtual world projects, including The Sandbox, has skyrocketed. Interest in metaverse-related projects soared when Facebook announced its rebranding to Meta. What factors play a role in assessing the price of a digital parcel inside this virtual world? Are there LANDs that might be over or underpriced? And how does The Sandbox compare to other metaverse projects in terms of financials, scarcity, and collaborations? Table of contents This report intends to dissect the valuation process for lands within The Sandbox or LANDs. While this approach can be found in traditional metaverse games like Minecraft, here lands, avatars and any other game assets are represented by NFTs, ascertaining true digital ownership of a part of this metaverse. With The Sandbox Game Maker – The Sandobox’s free native building tool – this project empowers artists and creators to build user-generated content.
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