How to Buy The Sandbox (SAND) in 3 Simple Steps
The Sandbox empowers people to explore and experiment in a blockchain-based metaverse which they themselves have a hand in creating. First launched in 2012 as a mobile app, The Sandbox is bringing to the game true digital ownership and the ability to monetise virtual experiences through the introduction of non-fungible tokens (NFTs) and its cryptocurrency, SAND.
If you want to know how you can invest in the metaverse, this guide will take you through how you can buy SAND, and explore the potential of The Sandbox’s virtual reality.
3 Steps to Buy The Sandbox
1. Choose a broker or exchange
A reliable broker or exchange platform is the first thing you’ll need if you want to buy SAND. Ideally, you’ll want a platform that you can easily navigate and that doesn’t charge you high fees for your purchases. If you’re not sure where to start, just check out our top recommended platform.
2. Create and fund your account
Once you’ve found the platform that’s right for you, you can create your account. This will mean providing some basic details, and regulated platforms will most likely ask for documentation such as a photo ID and proof of address to comply with KYC requirements. Once that’s out of the way, you can make a deposit through any accepted payment method.
3. Buy The Sandbox
The final step is to make your purchase. Search the coins for SAND and make sure to select the SAND trading pair that contains the currency you just deposited. If you want your SAND right now, create a market buy order. You can alternatively create a limit order, which will result in SAND being bought automatically once it reaches a specified future price.
Buy The Sandbox in 3 Easy Steps
Create a free account
Fund your account
Buy The Sandbox!
Why trade The Sandbox with a broker?
Fast and simple
Trades are instant and easy to execute
Pay your way
Brokers accept a range of payment options including credit/debit cards and even PayPal
No wallet needed
No need to set up and maintain a wallet—you can manage your crypto directly from your account
Where to Buy The Sandbox: Compare the Top Platforms
With so much interest in the metaverse, many platforms have started offering SAND. These vary in popularity and which features they provide. Two of the most important things to consider are security and regulation if you want to keep your funds safe.
To help you get started, we’ve compiled a few of the best platforms available for buying SAND below.
What Is The Sandbox?
The Sandbox is a popular game where players can explore and enjoy a virtual world. Similar to Minecraft and Roblox, users can set their creativity loose by building things, from people and tools to full-blown gaming experiences, creating a truly immersive virtual universe, or “metaverse”.
What sets The Sandbox apart from other builder games is its decentralised nature—all the content of the metaverse is user generated and no central authority can limit players. What’s more, the game uses a play-to-earn model, in which players can monetise their gaming experience through trading virtual land and items.
This is made possible by blockchain technology and NFTs—unique digital tokens used to represent pieces of the virtual map (LANDS) and in-game items (ASSETS). Holders of these NFTs have true ownership over their items and can sell them on the marketplace for SAND, the project’s cryptocurrency. Those who hold SAND also have governance rights over the game.
Ways to Invest in The Sandbox
Whether you want to sell your SAND as quickly as possible or keep hold of it for years is up to you. Both of these approaches have their pros and cons and it is simply a matter of preference.
Buy and hold The Sandbox
Many choose to hold onto their SAND for the long term in the hopes that it will appreciate in price. This could turn out to be a sound strategy if interest in the metaverse and blockchain gaming continues to grow. The scarce supply of SAND could also make it a good long-term store of value.
Furthermore, your SAND tokens don’t have to sit idle while you hold them. You can stake them to generate a passive income in the form of more SAND tokens. If you play The Sandbox, you can also use some of your SAND to buy in-game NFTs, and potentially grow your holdings by selling them at a profit.
Best The Sandbox wallets
You may want to set up your own private wallet, which can be particularly beneficial to those holding SAND for any length of time who want an extra layer of security. There is a range of wallets available, which can mostly be divided into software and hardware wallets.
Software wallets are great for those who want regular access to their funds through a free and easy-to-use interface. Hardware wallets may be expensive and more technical, but they provide the highest level of security, making them ideal for long-term holders with a significant amount of SAND. Popular examples include Trezor, KeepKey, and Ledger.
Trade The Sandbox
Short-term investors also stand to benefit from SAND, as its price is highly volatile, like the rest of the crypto market. Traders can even take advantage of financial instruments such as options, futures, and contracts for difference (CFDs) to profit from SAND price movements without purchasing the underlying asset.
These traders therefore will not require a wallet as they don’t actually hold any SAND. Short-term investors, meanwhile, may prefer to use the free web wallet provided by their exchange platform, as this is more convenient than regularly moving their SAND between their exchange and a private wallet.
Should I Buy The Sandbox Now?
This is ultimately a personal choice, but there are various fundamental aspects to consider when making it. Staking rewards could drive demand for SAND, while its scarce supply should prevent devaluation from inflation.
A significant portion of the demand for SAND will likely come from The Sandbox players, as SAND is the game’s main utility token and the only way to buy and sell NFTs in the game. This demand could increase and lead to a price rise as The Sandbox’s userbase grows. The franchise has already earned a significant following as a mobile app, and the benefits of blockchain could attract yet more players.
Investor interest from non-players will also likely play a role in the value of SAND. This is affected by the wider interest and belief in the concept of the metaverse—something that is growing as mainstream tech giants such as Facebook and Microsoft begin to get involved.
Ultimately, blockchain-based metaverse gaming is still an emerging technology with a lot of potential, and innovative projects such as The Sandbox are well placed to take advantage of the growing excitement around this field.
Alternative CryptocurrenciesView more Cryptocurrencies
Frequently Asked Questions
SAND is an ERC-20 token, which means you will have to pay Ethereum gas fees to make SAND transactions. If you want to withdraw your SAND from the platform where you bought it, check their website to find out what withdrawal fee you will be charged.
You can spend your SAND on accessing The Sandbox platform, playing games, and uploading assets you create to the marketplace. SAND can also be used to buy anything available on The Sandbox marketplace, including pieces of virtual land, avatars, equipment, wearables, gems, and art.
SAND is the digital currency of The Sandbox metaverse and conforms to the ERC-20 token standard. LAND, on the other hand, represents a piece of the virtual world and conforms to the ERC-721 token standard for NFTs. LAND can only be bought with SAND.
SAND can be earned through staking. Players can also create their own NFTs with VoxEdit and sell them on the marketplace, or even build their own games with Game Maker and charge other players to play them.
As an ERC-20 token, SAND can be stored in any wallet that supports the Ethereum network—of which there are many. If you want to stake your SAND, make sure to select a wallet or exchange that supports staking. If you want to play the game, you will need to use a wallet that can be connected to The Sandbox, which includes MetaMask, Bitski, and Venly.