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What is SAND coin? Introduction to SAND coin issue price, total amount and white paper
SAND coin is a utility token of The Sandbox metaverse platform, facilitating transactions, governance, and asset ownership within its gaming ecosystem.
Oct 06, 2024 at 05:06 pm
Understanding SAND Coin: A Comprehensive Introduction
1. Definition
SAND coin (SAND) is a native utility token within the Sandbox metaverse platform. The Sandbox is a play-to-earn (P2E) gaming platform where users can create, own, and monetize their customized games and virtual assets.
2. Issue Price
The initial coin offering (ICO) for SAND took place in August 2020, with an issue price of $0.0038 per token.
3. Total Amount
The total supply of SAND is 3,000,000,000 tokens.
4. White Paper
The white paper for SAND coin provides detailed information about the project's concept, technology, tokenomics, and use cases. It can be accessed on the Sandbox website: [https://sandbox.game/en/whitepaper/](https://sandbox.game/en/whitepaper/)
Expanded Explanation:
Tokenomics
SAND coin serves as the primary currency within the Sandbox ecosystem, facilitating the following functions:
- In-Game Transactions: Users can purchase and trade game assets, such as virtual land, items, and services, using SAND.
- Governance: SAND holders can participate in the platform's decentralized governance system, voting on proposals to shape the future development of the Sandbox.
- Staking: Users can stake SAND to earn rewards and participate in exclusive events.
Utilities
SAND coin has multiple utilities within the Sandbox ecosystem:
- Asset Ownership: SAND is required to purchase and own virtual land (LAND) parcels, which represent ownership of in-game areas.
- Game Creation: Users can utilize SAND to create and develop their own games within the platform.
- Token Incentives: SAND is used as a reward mechanism for completing game missions, tournaments, and other in-game activities.
- Community Involvement: SAND holders can join the Sandbox's community and participate in events, discussions, and other engagement activities.
Value Proposition
The value proposition of SAND coin lies in its role as a vital component of the Sandbox metaverse ecosystem, offering users the following benefits:
- Ownership: SAND enables users to own and control digital assets within the Sandbox.
- Customization: Users can design and build their unique experiences and games.
- Earning Potential: Through gameplay, staking, and other activities, users can earn rewards in the form of SAND.
- Community: SAND fosters a thriving community of creators, players, and investors who contribute to the growth of the ecosystem.
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