- The Sandbox's strategy of using its token for in-game items could produce a very desirable coin for gamers in the metaverse.
- With many popular game-based currencies experiencing surges as their popularity increases, SAND could become one of the world's most valuable coins if the game sees a large enough user base.
SAND gains 10%. Is the future of crypto based in gaming?
The digital currency of the metaverse-based game, The Sandbox, has risen 10% in value earlier today while many other currencies with real-world use cases are struggling to hold onto their values. With so many cryptocurrencies striving for more uses in the real world, The Sandbox is making strides into a market that is mostly untapped by blockchain endeavors: gaming. By giving users the ability to use cryptocurrency for in-game items within the world of The Sandbox, SAND could become the first of many game-based tokens that rise in real-world value through the demand of gamers rather than investors.
Playing in The Sandbox
In The Sandbox, players can create their own games, play games other users have created, and even create their own game assets, selling them for use in other people's games. No matter how players choose to interact in The Sandbox, they will have the potential to earn rewards, such as SAND itself or even non-fungible token land plots which can be used for a variety of things in-game. SAND makes up the basis for game's transactions, being used to purchase a variety of in-game items, assets, and more. Demand for a game's currency, however, is linked directly to the popularity of the game itself.
The value of SAND
SAND is similar to the systems we have seen for in-game currencies like Robux or V-Bucks in the popular online games Roblox and Fortnite, respectively. However, the value of SAND in real world terms will most likely rise and fall based on the game's popularity levels. If The Sandbox was able to reach the same popularity levels as other creativity-based games like Minecraft, becoming a major staple in the gaming community, then SAND would most likely experience a major boost in value. Sadly, with most games, popularity comes and goes, with many games becoming old-hat just as quickly as they rose to popularity.
If SAND was to achieve a high and stable value, The Sandbox would be likely followed by other games that use cryptocurrency as an incentive for creation, possibly becoming the first of a brand new genre of games altogether.
The bottom line
SAND has seen a noticeable rise in value today, causing many to wonder if gaming could be one of the most effective and overlooked places for cryptocurrency to be used. The Sandbox has created a unique entry point into the metaverse by allowing users to engage with their own creations and even earn tangible rewards through creating games for others, playing games made by others, or contributing to others' games with interesting assets.
The success of SAND is closely linked to the popularity of The Sandbox, and is primed to surge if the game becomes a renowned staple of the gaming community like so many have before. If The Sandbox sees success, more games are likely to use cryptocurrency as their in-game means of commerce.
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