The Sandbox, a virtual property and gaming company owned by Animoca Brands, is launching a multi-week play-to-earn (P2E) Alpha event to introduce gamers to a portion of its metaverse. Coming after four years of development, the Sandbox Metaverse Alpha will be released on November 29th. However, only a select few players will be able to partake in the complete experience.
The Sandbox’s virtual gaming world utilizes a play-to-earn paradigm to allow users to profit from their time spent in the metaverse. Within the game, players can buy land and create nonfungible tokens (NFT), as well as earn the Sandbox token (SAND) by performing tasks. They can also put their money on the token.
According to a statement released by the company, the event will begin on Nov. 29 at 1 p.m. UTC and run through Dec. 20, where a limited number of 5,000 users will have the opportunity to earn up to 1,000 SAND (about $3,500 at current pricing) and three special NFTs by participating in one of The Sandbox’s 18 events.
The three limited-edition NFTs will be available just at the event, showing a medieval gate, a blue-and-black dragon, and a longsword, all of which can be used in The Sandbox metaverse.
The Alpha Pass is an NFT ticket that gives 5,000 people complete admission to the event. A raffle for Sandbox Landowners will provide 1,000 prizes, while daily social contests will award 2,250 more to Sandbox account holders over three weeks.
Without the pass, players will get access to three experiences as well as the Alpha Hub, a multiplayer gaming mode featuring a variety of settings and missions, but they will not be eligible for P2E awards. According to statistics, the floor price for Sandbox NFTs is roughly 1.019 Ether (ETH) worth $4,284 at the time of filing. Since late 2019, the total exchange volume has been 39,700 ETH ($165.3 million).
Animoca Brands co-founder and chairman Yat Siu in an interview noted that new users should take the time to carefully sample The Sandbox before purchasing tokenized land.
The Sandbox secured a $93 million Series B fundraising round spearheaded by SoftBank Vision Fund 2 at the beginning of this month. The concept has been in development for four years, according to the company, and will be launched in “gradual phases” in the future. The money will be used to expand The Sandbox by creating new games and live experiences, as well as forming new relationships with well-known businesses and intellectual assets.
The price of SAND touched a new all-time high of $3.42 earlier on Tuesday, according to CoinGecko data. SAND has experienced a remarkable rise in 2021, acquiring 8,663.5% in the last year.