The Sandbox (sand) Price Index

The Sandbox is a blockchain-based virtual environment launched in 2011 by Pixowl that allows users to create, construct, purchase, and trade digital goods in the manner of a game. The Sandbox develops a decentralized platform for a healthy gaming community by combining the powers of decentralized autonomous organizations (DAO) with non-fungible tokens (NFTs).

According to the official whitepaper, the primary objective of the Sandbox platform is to successfully implement blockchain technology in mainstream gaming. The platform focuses on encouraging a creative "play-to-earn" paradigm that allows users to simultaneously be producers and gamers. The Sandbox utilizes the capabilities of blockchain technology by providing the SAND utility token, which supports platform transactions.

 The Sandbox's Founders?

Arthur Madrid is the co-founder and CEO of Pixowl, and he is one of The Sandbox's driving forces. In 2000, he earned a degree in economics from Université Paris Dauphine. Madrid began his career as a consultant for Eurogroup Consulting France, but he quickly discovered his entrepreneurial spirit. He started 1-Click Media in 2001, which was later acquired by Ipercast.

Sebastien Borget is also a co-founder of Pixowl and the company's chief operating officer. In 2007, he received a degree from Institut national des Télécommunications in computer systems networking and telecommunications. Arthur Madrid and Sebastien Borget have been an entrepreneurial pair since Arthur Madrid's professional beginnings as a project manager at 1-Click Media. They launched Pixowl in 2011 and have continuously collaborated on projects.

What Sets The Sandbox Apart?

The Sandbox is a one-of-a-kind platform since it introduces blockchain technology to the gaming industry. Pixowl recognized in 2011 that the gaming sector is a vast unexplored potential for the implementation of blockchain technology. The Sandbox seeks to change the market by allowing gamers to build and gather blockchain-based goods within a virtual realm. It carves out a niche for itself in the worldwide gaming sector.

By emphasizing user-generated content, the Sandbox develops a metaverse of engaged participants who contribute to the evolution of the platform. In addition, by introducing the SAND token, the Sandbox encourages decentralized governance and enables users to voice their thoughts on the project's evolution. In blockchain-based projects, decentralized governance is becoming a necessity due to the development of technology.

The startup launched with a bang, attracting support and funding from various gaming industry titans. These include the Atari, Helix, and CryptoKitties brands.

The number of The Sandbox (SAND) coins in circulation.

There is a maximum quantity of 3 billion billion SAND tokens. Approximately 680,266,194 SAND tokens are now in circulation, representing 23 percent of the total supply as of March 2021.

About 25.82% of the total token supply was set aside as a business reserve. Additional 17.18 percent were allotted for the token's seed sale. The founders and team members acquired approximately 31 percent of the total token supply. Approximately 12 percent of the total supply was reserved for a Binance Launchpad Sale, and another 10 percent was allocated as prizes to the project's advisors.

How Does The Sandbox Network Maintain Security?

As the Sandbox virtual world is based on the Ethereum blockchain, the proof-of-stake (PoS) consensus mechanism protects it. The SAND coin is an ERC-20 token with the standard version, thus its owners can stake it and earn staking rewards.

In contrast to the proof-of-work (PoW) consensus process utilized by the Bitcoin blockchain, proof-of-stake (PoS) does not necessitate massive quantities of electrical or computational resources to validate transactions. It depends on those with the highest SAND token holdings. The PoS consensus technique enables a wide variety of applications while maintaining the safety of staked assets.

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