Popular metaverse platform, The Sandbox, has recently introduced an entirely new staking pool that will benefit LAND holders. LAND holders are users which have a stake in Sandbox’s metaverses. This new achievement is expected to ramp up the ever-increasing utility of the platform and its native cryptocurrency.
With the aid of the establishment, Sandbox seeks to award those with a tangible investment in the game. As a result of this, folks holding LAND within their associated digital wallet will have the advantage of enhanced earning and will be able to earn more $SAND rewards than ever before.
TVL in the new exclusive LAND Owner staking pool: >US$4.3M 🚀🤯
— The Sandbox (@TheSandboxGame) September 25, 2022
To be a part of this, users are required to own at least one LAND token on the Polygon Network. The Sandbox will automatically detect its existence and then apply the preferential APR calculation to its stake. It is however important to note that additional rewards only apply after a user must have staked 500 $SAND token for each LAND holding.
The Sandbox has secured 3m $SAND which it will distribute once a week in batches of 250k $SAND for the first 12 weeks. Participants without the coveted assets, however, have the option to stick to the standard staking pools as a means of investment.
Upon this announcement, the asset has seen a significant spike in sales. We witness a rise of 50% roughly as LAND rose from its just below 1 ETH floor price, up to an outstanding 1.5 ETH per LAND.
Discussing The Sandbox
The Sandbox is an Ethereum-based decentralized, community-driven gaming platform that allows game creators to exchange and yield earnings from their voxel assets.
Game designers, artists, and players alike can utilize The Sandbox’s open-source software, such as the Game Maker and VoxEdit to build for themselves ASSETs, adventures
and others, including dioramas, art galleries, and games.
The Sandbox ecosystem utilizes an ERC-20 token known as $SAND. This token serves as the ecosystem’s governance token as well as their main utility token and currency. $SAND token may be used by players to acquire LANDs, ASSETs, and avatar modifications in The Sandbox ecosystem.
Sandbox Expects Downturn Due To Competition
Conforming to the recent downturn of events in the crypto space, the 2D gaming real estate platform has been pulled down by the current bearish trend. SAND in recent weeks has fallen by 10%. The token is currently trading at $0.90, plunging from its last September peak value of $8.38.
Crypto experts foresee another significant 60% fall to $0.19 by the end of 2022.
SAND investors were greatly aggrieved and have directed their interest elsewhere. The ongoing presale of The Hideaways (HDWY), a more beneficiary real estate NFT platform is beginning to hold more appeal.