These are NFT (Non Fungible Token) in ERC-721 format on the Ethereum blockchain, which represent the digital property of a plot in the metaverse of The Sandbox.
In total there is a limited number of LANDs, 166,464, each with a unique location within the virtual world where players can build, own and monetize their gaming experiences using the platform’s main utility token, SAND, and the official Sandbox token.
Binance decided to collaborate with the initiative by purchasing more than four thousand LAND before the fourth pre-sale scheduled for September 15, 2020.
The Sandbox recently completed a $3 million token sale on Binance Launchpad.
Binance and the purchase of LAND of The Sandbox
The exchange will use its LANDs to interact with its community through social gaming experiences, and to organize future NFT creation contests, supported by VoxEdit and The Sandbox NFT marketplace.
It will also distribute some LANDs to the creators who will propose the most exciting games made with The Sandbox Game Maker, thanks to a series of contests that will be announced before the public launch of the platform’s Beta in December 2020.
The Sandbox has already conducted four LAND pre-sales during 2020, grossing more than $1.5 million.
It is now one of the largest user-generated, independent content gaming platforms with 40 million downloads and over a million active users per month.
Binance Research has also dedicated a special focus to the project.
The new 3D version of The Sandbox will introduce the ability to create 3D objects, and has been named one of the 10 most anticipated blockchain games globally, and one of the 50 best blockchain games companies in the world by BlockchainGamer.biz.
Binance CEO Changpeng CZ Zhao said:
„It is clear that blockchain technology has great potential in the gaming industry. It provides significant improvements for gamers and developers, especially with regard to decentralization, transparency and interoperability. Binance is going one step further to demonstrate that blockchain technology can bring mainstream adoption in games through our collaboration with The Sandbox. Together we are working on a brand new entertainment field that gives players more freedom.
COO and co-founder of The Sandbox, Sebastien Borget, commented:
„Welcoming Binance into our metaverse is a significant step toward wider adoption of NFT in the decentralized economy by the Bitcoin Loophole user community. One of the greatest strengths of The Sandbox’s virtual world is the fact that creators can create, own and monetize games together with gaming giants like Atari, Square Enix and now Binance“.