The Sandbox is made up of many essential elements including gaming content, LANDs, NFT assets, and SAND. Among these, a LAND is a digital piece of real estate in The Sandbox metaverse on which players can build experiences. Virtual LANDs in The Sandbox are gaining interest all around the world, which has resulted in every LAND being sold out in each LAND sale to date.
This article will explain LAND’s value in detail compared to real estate in real life.
The Sandbox is designed to support a creators’ economy that allows users to create and play games hosted on individual LANDs.
Creators receive 95% of the value from the NFTs they created and sell on The Sandbox Marketplace. This revenue system allows creators to reinvest their earnings to develop their activity by hiring more artists and builders for their LANDs. We strongly believe that the value generated by creators should go to them first and foremost, rather than the platform.
Our play-to-earn model empowers players to monetize their time and engagement in the metaverse, creating a healthy circular economy.
Scarcity creates value
Scarcity increases the value of any product or asset in general. The value of tangible assets such as gold and real estate has historically risen, and they are usually considered good investment options. Why? The key is “scarcity”. The Sandbox consists of 166,464 LANDs in total, and no new LAND can ever be created. This finite number makes LAND a scarce and unique asset. The value of LAND is expected to increase as 75% of LANDs are already sold at the moment, and the number of LANDs available to buy through LAND Sales will decrease.
Diverse content on LANDs
A single 1x1 plot of LAND is 96 meters* in width by 96 meters in length, making it a perfect square. It is also 128 meters in height. Any content — social hub, gallery, club, fashion show, or game — is published on a LAND. The value of physical real estate varies depending on the purpose or the facilities built on the land. The same goes for The Sandbox — the content created on virtual LAND defines the overall value.
* In The Sandbox’s metaverse, 1 meter is the equivalent of 32x32x32 voxels.
Anyone can build
In real life, construction work such as excavation, working on columns/floors, building steel frames, etc… a lot must be done to buil on empty land. It requires professionally trained personnel, long construction periods, and high material costs.
However, in The Sandbox you can build and create whatever you want with the free VoxEdit and Game Maker tools that The Sandbox provides. These 3D production tools are software that anyone can easily use without coding knowledge. This accessibility will increase the usability of LAND, thereby increasing LAND value.
Free access to LANDs
The Sandbox Alpha Season events allow players to be the first to experience content created by partners, teams supported by The Sandbox Creator Fund, and builder studios. By 2023, anyone will be able to publish their content on their LAND freely. When the time comes, the quality of content will be the crucial point to defining the LAND’s value, as mentioned above.
Neighborhood increases value
A great neighborhood is another factor defining real estate’s value. Famous brands and quality infrastructure impacts property value significantly. The Sandbox has partnered with more than 400 brands to date, and these brands are developing experiences and content on their LANDs. The Sandbox metaverse is becoming a prime destination where brands, IPs, and celebrities can engage with their fans and offer virtual experiences, including games, live performances, and social events. Eventually, the value of LAND will increase as the neighborhoods evolve.
Other benefits for LAND owners
In real life, there is little profit in owning raw land without putting in additional work such as renting, cultivating, or building facilities. However, owning LAND in The Sandbox gives multiple benefits.
LAND owners can receive SAND rewards based on the amount and period of owning LANDs, including SAND airdrops to mark occasions such as the New Year celebration and the 1,000th day of the metaverse, as well as additional Alpha Pass raffle tickets. Also, The Sandbox runs a staking program with a higher APR for LAND owners. Other than online benefits, there are some IRL-related events, such as Ledger product giveaways and VIP gatherings, including NFT NYC. Furthermore, there will be GEM and CATALYST farming in the future, allowing LAND owners to obtain them as interests.
Finally, if a creator sells their NFTs or items on their LAND via the marketplace, a 5% fee will be added on top of them. This fee goes into the Foundation fund, which is used to fund great projects, artists, and game designers in the metaverse. In the end, a virtuous cycle will be made in which the creator’s profits return to the creator’s benefit.
As a LAND owner, you can be a key part of The Sandbox ecosystem as a creator who can create content on your own LAND, build a community, and monetize it.
We will continue to consider and strengthen LAND value in the future. Join our upcoming LAND sale if you want to be a LAND owner! The Sandbox welcomes everyone who wants to be a part of the ecosystem.