A large number of non-fungible tokens (NFTs) have been sold in different markets this year, generating tens of thousands of dollars in NFT sales. One platform in particular called The Sandbox sells plots of virtual land for thousands of dollars in ether. Sandbox is a virtual world that allows players to create and own blockchain-based virtual items in the metaverse built on the Ethereum network. On October 18, Sandbox revealed that two 6 × 6 properties had been sold for 210 ether ($ 76,931), which is 28 times the original price.
In the future, digital currencies will become an integral part of the online world people call the “metaverse”. The Metaverse is essentially a persistent virtual space that converges with virtual reality. Current applications of blockchain they not only allow people to create virtual spaces and elements in 3D, but also to possess them in an immutable way.
At the end of July, news.Bitcoin.com took a tour of the virtual world called “Decentraland” and looked at everything that has been built since it was summoned over four years ago. However, another virtual ecosystem is being built called El Sandbox.
The online world created by gamers was the fifth seller in terms of NFT trading volume, according to today's report.
he Blockchain based sandbox game was created by startup TSB Games, a subsidiary of Animoca Brands. Data shows the game has registered a total of 42,420 sales worth $ 2.2 million to date. In the last 30 days, nonfungible.com has made $ 555,000 in sales on NFT Sandbox.
Basically the Sandbox game uses a voxel editor so users can create 3D assets and develop on plots of land that can be purchased with the project's native SAND token. Assets created by participants can also be sold on the Sandbox for SAND Marketplace. On Sunday, the project's official Twitter account revealed that two 6 × 6 properties had been sold for 210 ETH valued at over $ 76,000.
Sandbox co-founder Sébastien Borget said the two 6 × 6 domains sold were a record sale on the platform. The 6 × 6 domains were sold alongside the Atari Theme Park Virtual Region. Established video game maker Atari joined forces with blockchain gaming in March, and a number of Atari favorites will be detailed to be available in the 3D Sandbox world.
🚀 Virtual Lands takes off #NFTs
📈 NEW record sale!
🤩Two 6 × 6 areas located right next to it @atari & @OfficialRCT XL Estates in @TheSandboxGame Metaverse was acquired for 210 ETH ~ $ 76,931 (28x original price of $ 1,400 each)@Coindesk @Cointelegraph pic.twitter.com/7dfwW4hhd8
– Sébastien (@borgetsebastien) October 17, 2020
Additionally, Atari explained that Sandbox visitors will be able to get game resources issued by Atari. The company also announced atarichain.com and the Atari Token (ATRI) offering last week, but it's unclear whether ATRI will be available for use in the Sandbox game after launch.
Sandbox relies heavily on the blockchain-based virtual ecosystem, but it remains to be seen how popular the platform will become. Decentraland's popularity has waned since the initial launch of the virtual world and the app has fallen to the seventh most used NFT-based ether app in terms of volume of NFT activity.
Most online virtual worlds, such as Altspace-VR, are running out of participants, and blockchain-based virtual reality attempts can take a long time. In addition to Roblox and Minecraft, hundreds of virtual reality and voxel-based worlds have seen poor adoption and only a small number of users. However, Sandbox adds some well-known partners to the equation and can give the platform a boost.
Sandbox's parent company, Animoca Brands, recently announced a partnership with Cloudco Entertainment, owner, content producer and global distributor of Care Bears. Besides Atari and Cloudco, other well-known companies such as Square Enix, Shaun the Sheep and Rollercoaster Tycoon World have also partnered with Sandbox.