The SAND token is trending everywhere right now. Investors are excited about this cryptocurrency, and they can’t stop talking about it. Due to public demand, Gate.io launched the SAND token on its platform. You can now join the trend by trading this coin on Gate.io. Despite the hype on social media, some investors are still skeptical about whether this token is a good investment. This article will guide you through everything you need to know about SAND.
What is SAND?
SAND refers to a utility token for the Sandbox ecosystem which facilitates interactions and transactions. It is built on the Ethereum blockchain with a maximum supply of 3,000,000,000. Additionally, the Sandbox refers to a virtual Metaverse that allows players to build and monetize their games for free. The players can also develop NFTs and upload them to the marketplace. Besides, they can also integrate the NFTs into their games using the Game Maker.
How it works
The Sandbox ecosystem is a genius project. It combines gaming, NFTs, game development, Metaverse, and Blockchain technology. These are the most common projects on the internet right now. Players buy LAND from the Sandbox Metaverse to build experiences. Once you own the LAND, you can develop games and integrate digital assets. Players can also buy multiple lands to create an Estate. The Metaverse consists of a maximum of 166,464 lands.
Gems and Catalysts in the Metaverse help players determine the value because they represent the digital assets’ attributes, tier, and scarcity. Catalysts allow the developers to fill their NFTs with more Gems. The players can make money on the platform in three ways.
The players can create and sell digital assets in the form of NFTs.
Virtual Real Estate
Players can buy land on the Metaverse. They can decide to rent it out or develop content that will increase its value.
The players can build games on the Metaverse Land using the Game Maker.
Participants keep 95% of the revenue generated from the above main activities. Let’s see how you can use the SAND token.
What is SAND Token used for?
- Value Transfer
The main utility of this Token is Value transfer. You can purchase assets in the Sandbox ecosystem using the SAND token.
1 SAND token equals one vote. The token holders can vote to make important changes in the ecosystem. The decision with the most votes win.
You can stake your SAND tokens to earn passive income.
Where to buy
The SAND token is currently trading in top exchange platforms. You can now buy and sell it on Gate.io. Forbes Advisor has listed this platform as one of the top exchanges of 2021. It gives you more than 1000 coins options to choose from and low trading fees. If you are looking for an affordable, secure, and stable exchange, look no more. Gate.io comes with a stylish and easy UX design for its users. Besides, it offers various trending tools and features to make trading easy and fun. Sign up and explore hundreds of tokens and high-quality trading features.