A token sale will be the next step for the company to raise funds after receiving a private round investment from Binance Labs. The highly anticipated Sandbox (SAND) $3M USD token sale on Binance Launchpad will follow a lottery-format ticket claim and start on August 13, 2020, at 06:00 am UTC (+0).
The Sandbox team is building a unique virtual world where players can build, own, and monetize their gaming experiences using SAND, the main utility token of the platform, and Non-Fungible Tokens (NFTs). SAND holders will be also able to participate in governance of the platform via a Decentralized Autonomous Organization (DAO), where they can exercise voting rights on key decisions of The Sandbox ecosystem.
"Imagine a creative game world where anything you create and earn is truly yours – you could transfer it, sell it, or do anything you wish with your content, right at your fingertips," said Sebastien Borget, COO and Co-Founder of The Sandbox. "That power is made possible within The Sandbox gaming metaverse by enabling our community of content creators, gamers, and virtual real estate owners to truly own all their digital content and creations using NFTs.”
Arthur Madrid, CEO and Co-Founder of The Sandbox, added, “Our strategic partnership with Binance and their ecosystem is a giant leap in bringing The Sandbox gaming platform to over 2.7 billion gamers, and advancing blockchain gaming one step further toward mainstream adoption and ease of access".
“The potential of blockchain and cryptocurrencies reaches far beyond the financial sector. Given the readiness of the gaming industry in its continuous evolution, especially in new technologies where blockchain is becoming an essential part of game development and set to change the global gaming industry,” said Binance CEO and Founder, CZ (Changpeng Zhao). “We are delighted to welcome The Sandbox to the Binance ecosystem. We hope that together we will be able to spread the power of blockchain as the lead technology in the gaming industry”.
The Sandbox platform has secured over 50 partnerships with notable gaming companies such as Atari, CryptoKitties and Shaun the Sheep. Binance also took a decision to support the project by investing in the company through its investment arm, Binance Labs.
“The gaming industry is highly innovative and is constantly commercializing new technology to improve monetization models, security and engagement,” Gin Chao, Strategy Officer of Binance, commenting on the investment in the project. “The Sandbox is a great example of a revolutionary project that aims to bridge the gap between blockchain and traditional gaming”.
In 2020, two projects have successfully launched on the Binance Launchpad platform raising over 3.5 million dollars total.
Learn more about The Sandbox from Binance Research’s in-depth report: https://research.binance.com/en/projects/the-sandbox
Stay tuned for the latest updates via Twitter at @Binance and The Sandbox’s official Telegram: https://t.me/sandbox-game, Discord: https://discord.gg/vAe4zvY and Twitter: http://twitter.com/thesandboxgame
