Popular metaverse coin project The Sandbox partnered with several major brands on Thursday. In this context, Sandbox is launching a three-part LAND sale.
The Sandbox launches three-piece LAND sale
Sandbox, an Ethereum-based metaverse coin project, is launching its three-part LAND sale on Thursday alongside popular brands like Tony Hawk, Snoop Dog, and Playboy. It looks like Sandbox, Roblox or Minecraft. However, it’s a crypto-powered game. That is, it leverages Blockchain technology to enable users to take ownership of in-game assets through NFTs and to trade virtual land on marketplaces like OpenSea.
In the upcoming sale, standard and premium land sales will be allocated by blind voting system. 1,967 LANDs (50 estates, 695 regular LANDs, 134 premium LANDs, and 19 1-for-1 LANDs) will be auctioned this sale. The real estate, meanwhile, is several LANDs in the game that are linked together to form a larger parcel of land.
LAND is a piece of virtual real estate combined with NFT that forms the building blocks of The Sandbox game. It is possible for users to purchase pieces of land similar to traditional real estate. There are also possibilities to use this space to host experiences or sell them in the marketplaces. The game currently has a total supply of 166,464 LANDs worth 1,119 Ethereum per piece. For more information about the Metaverse coin project, see this article by Kriptokoin.com.
Sales will kick off on November 24 with the launch wave titled “California Dreamin” representing California-themed brands like Playboy and The Marathon. It will also continue with two thematic launches until completion in early 2023.
Popular metaverse coin connects with big brands
This is the first time Sandbox has partnered with multiple brands during a single LAND sale. Sebastien Borget, co-founder and COO of The Sandbox, commented on the development:
We include multiple brands in California Dreamin that share a similar theme, such as California brands. Thus, users now have the chance to be neighbors to multiple partners sharing a similar theme, such as choosing the neighborhood they want to live in for a city. Through blind voting, we will give users the opportunity to ‘acquire a prestigious virtual LAND and become a neighbor of Paris Hilton or Snoop Dogg or even start their own club near Cipriani’.
To participate in the auction, users must have at least 1,011 SAND in their Blockchain wallet. Also, the sale will be limited to one asset per user. Borget predicts that this approach will democratize the distribution of assets in its decisions to enforce strict login requirements for sale, including requiring users to have a minimum SAND value in their wallet and KYC security procedures.
The second wave of LAND sales, called The Galleria, will feature a virtual neighborhood experience built around the fashion, media and hospitality industries. Sandbox plans to hold this sale on December 1. It’s also in the plans for its third sale to be in early 2023.
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