The craze for metaverse has never been as intense as it became just after Facebook officially dipped its toes in the concept. But what we miss to see is that there are independent metaverse projects well underway than what Facebook has achieved so far. The Sandbox virtual world is one such idea that has just received a warm reception after its first Alpha test. As a large fanbase is currently excited about the future plans of the Sandbox metaverse, the timely interview with COO Sebàstian Borget gives everything we need to know about it.
Sandbox is a subsidiary of Amioca, founded to explore decentralized finance. There are other projects from Amioca expecting to build games and other products based on popular names like Disney, Moto GP, Formula 1, WWE, Doraemon, Power Rangers, etc., compatible with NFTs. More than 100 investments have been made by Amioca to explore the vast possibilities of NFTs and DeFi. In November 2021, Amioca announced its plans to create a virtual world named The Sandbox.
This virtual world will have the native token SAND used for governance and value exchange within the ecosystem. LAND in the metaverse refers to the pieces of the virtual world that can be bought, built on, and modified. These pieces of virtual real estate are where the users will build their gaming experience and their digital home. Essentially, the LANDs are pieces that can be shaped according to the wills and desires of the players using the tools offered by the Sandbox. The number of LANDs on the Sandbox is finite, and there will only ever be 166,464 lands. The cheapest piece of LAND on the Sandbox currently costs around $11,000.
The COO also mentioned the future plans of the metaverse. Firstly, they intend to host more events for gamers to make their stay exciting. There are plans to create a Decentralized Anonymous Organisation (DOA) for the community of the Sandbox metaverse to help them contribute to the project. Due to the high gas fees of the Ethereum blockchain, the Sandbox team has ideas for migration to Polygon, which is lauded for its technical infrastructures and cheaper fees.
Nonetheless, Ethereum blockchain is expected to drop its layer-2 solution soon in 2022 amidst rising concerns about transaction speed and gas fees. In such a case, leaving Ethereum would not be an optimal choice as the protocol comes with a market cap of around 250 billion. In comparison to growing crypto projects, an upgraded Ethereum chain is the likely option for such ambitious projects. Visit CryptoNewsZ.com to read this complete ethereum price prediction.
