What is the issuance and circulation of SAND coins?

The Sandbox (SAND), an ERC-20 token powering its metaverse platform, was initially issued in 2021 through various fundraising rounds, with a total issuance cap of 3 billion tokens.

Oct 08, 2024 at 08:12 am

1. Issuance of SAND Coins

The Sandbox (SAND) is an Ethereum-based ERC-20 token that powers the Sandbox metaverse platform.
It was initially issued in 2021 through a series of fundraising rounds:
- Seed round: $2 million raised from seed investors such as Animoca Brands and IOSG.
- Private sale: $3.2 million raised from private investors and venture capital firms.
- Public sale: $3.4 million raised from the public through token distribution.

2. Circulation of SAND Coins

The total issuance of SAND coins is capped at 3,000,000,000 (three billion).
The current circulating supply, as of [insert date], is [insert number].
The allocation of SAND tokens is as follows:
- 17% to the team and advisors
- 15% to seed investors
- 31% to private investors and venture capital firms
- 12% to public sale participants
- 15% for platform rewards and incentives
- 10% for the foundation and treasury

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