The Sandbox
About The Sandbox
The price of The Sandbox (SAND) is $0.24966431 today, as of Sep 01 04:06 a.m., with a 24-hour trading volume of $51.14M. Over the last 24 hours, the price has decreased by -2.40%. The Sandbox currently has a circulating supply of 2.34B and a market cap of $583.27M.
SAND is the native cryptocurrency of The Sandbox; a popular 3D "metaverse" game built on the Ethereum network that users can explore, purchase land on and create structures that can be monetized. All items acquired in The Sandbox are 100% owned by the players themselves, creating revenue opportunities for gamers.
The Sandbox is powered by the SAND token, one of the two most popular metaverse gaming tokens to date and one that gained prominence in 2021.
SAND has a hard cap of 3 billion tokens. The initial token distribution of SAND tokens was roughly 55%. That was split among The Sandbox's team, advisers and the company reserve. Twelve percent went to The Sandbox Foundation, a nonprofit tasked with giving grants to developers and others building projects on the platform to encourage growth, and the remaining 33% went to investors, distributed in a variety of public sales.
SAND is a utility token that can be used to play games, purchase equipment or customize avatars. Users can earn the token while playing the game. SAND is also a governance token, meaning that users who hold the token can vote on decisions affecting the future of the game.
The Sandbox metaverse game is composed of slabs of digital real estate called LAND, of which only 166,464 will ever be available. Like real estate in the real world, LAND can be used to erect buildings or games or other digital experiences, which developers can create using developer toolkits provided by The Sandbox.
SAND's price hovered at around $0.04 to $0.06 after the token was first released in 2020, and it climbed sharply in 2021. SAND hit its all-time high of $8.40 in November 2021. Though SAND's price dropped to $6.55 after that, the price surged 25% to another peak of $7.49 in late November 2021 on news that sportswear maker Adidas teased a partnership with The Sandbox gaming platform.