The Sandbox is a unique metaverse project aiming to create a virtual world where users can buy or sell non-fungible tokens (NFTs), or digital collectibles, and digital real estate known as LANDS. In addition, the platform also offers a variety of gameplay transactions. The initial version of The Sandbox was launched in 2012 by game developers, Pixowl and Onimatrix, who shifted focus by launching their blockchain-based metaverse.
1. Create an Account
Visit the Netcoins website and click on the sign-up button. Or download the Netcoins app from the app store for mobile. Enter your email address, create a strong password, and agree to the terms and conditions. You will receive a confirmation email, click on the link to verify your email address.
2. Fund It
Choose your preferred funding method: bank wire transfer, interac e transfer, crypto deposit, or cash deposit. Follow the prompts to transfer funds into your Netcoins account. The process is quick and incurs no fees.
3. Start Trading
Why Buy Sand?
By surpassing over two million registered users merely 13 months after its launch, it is evident that The Sandbox is a project with a lot of interest and a bright future. Investing in SAND is an opportunity to bet on the future growth and adoption of the project. If the game continues to expand its product offering and attract new users, the usage of SAND tokens may grow proportionally resulting in the potential for price appreciation. Similarly, The Sandbox could have an exciting chance to gain significant traction as the metaverse continues to grow toward mass adoption. For these reasons, investors are hopeful about the future of The Sandbox.
What Can You Do With SAND?
As the native currency in The Sandbox, SAND tokens can be used to make payments within the game. Examples include engaging with user-generated content and purchasing LAND (virtual plots of land considered digital real estate). SAND tokens can also be used within The Sandbox marketplace to buy, sell, or create NFTs that act as equipment for avatars and creations within LAND. Additionally, SAND is the governance token of The Sandbox decentralized autonomous organization (DAO), meaning that staking SAND tokens allows for participation in the governance of the project and helps influence key decisions made to its operations.
How Much SAND Can I Buy?
You don’t need to buy a lot of SAND to get started! Our minimum purchase amount is 10 SAND. Enabling anyone to gain exposure no matter how many dollars they have to invest.
Does SAND Have a Supply Cap & Can It Be Mined?
There is a fixed supply of 3 billion SAND tokens in circulation (meaning that there will never be more than 3 billion SAND tokens in existence). This makes the token deflationary and a hedge against things such as inflation.
SAND is different from cryptocurrencies like bitcoin, which operate on a proof-of-work consensus (involving mining, the process of solving difficult computational puzzles by brute force in order to create new coins ). Through its proof-of-stake consensus, holders of SAND can stake (or give up as collateral) their SAND tokens by connecting their holdings to The Sandbox platform with the incentive of earning yield. In this way, they help secure the network while growing their holdings.
If you want to learn more about Blockchains, Bitcoin or Ethereum, follow our educational blog!
Is The Sandbox better than Decentraland?
Both The Sandbox and Decentraland are working to accomplish similar goals in the Metaverse space. However, based on factors such as user friendliness, gaming focus, aesthetics, and a more thorough roadmap, The Sandbox is the apparent winner. While Decentraland touts its DAO, in such a delicate and intricate sector as blockchain gaming, a more experienced and decentralized platform often provides better results.
Is SAND a Good Investment in 2022 & Beyond?
Looking into 2022 and beyond, SAND is an investment whose price performance will depend heavily on execution and adoption. Up to this point, The Sandbox developers have shown both commitment and a desire to innovate, which are both significant positives concerning the project’s longevity. Since The Sandbox is one of many Metaverse projects, one of the most significant determinants of SAND’s future price performance will be the adoption of the Metaverse. Adoption may act as either a headwind or a tailwind, serving as a possibility for a high reward if things go well. No matter your conviction in SAND, it may be a good idea to consider diversification before investing.
FAQs
Why is KYC (Verification) required?
Netcoins Inc. is a licensed money service business under FINTRAC, and a registrant under the Provincial Securities Commissions, and adheres to the strict guidelines set by them for Money Transmitter Businesses and Securities Registrants. We are required to have a Know-Your-Client (KYC) process and compliance program in place. KYC is a process that allows us to verify the identity of our customers.
What do I need to provide for your verification process?
You will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver’s license). Most users are verified at this point through our automated process. If you don’t pass the automated KYC process, you will have to go through an additional document verification stage. This is important and required as we are a regulated money service business.
How can I fund my account?
Your Netcoins account can be funded with a crypto deposit, Interac e-Transfer, or a bank wire transfer. Once you have funds in your Netcoins account, you’ll find that it’s super easy to buy SAND in Canada.