How to earn with The Sandbox
For a while in 2022, The Sandbox seemed to be making headlines every other week with news of the platform securing partnerships with multiple top brands, hosting virtual musical concerts, and recording one of the most expensive metaverse asset sales.
The Sandbox was one of the first Web3 projects to push the concept of owning real estate in the metaverse. The novel idea brought investors flocking to the platform and, in turn, regular players interested in speculating the price of the assets and those interested in the Web3 technology.
This article will explore the various ways the average person can earn on The Sandbox metaverse.
What is The Sandbox?
The Sandbox is a Web3 gaming metaverse that reminds one of Minecraft with its blocky, pixelated graphics at first glance. Similar to Minecraft, players in The Sandbox can build in-game items and explore the open virtual world based on the Ethereum blockchain.
Players can also purchase a digital piece of real estate – an Ethereum-based non-fungible ERC-721 token called LAND – within The Sandbox, where they can create virtual experiences like games and events. All transactions in The Sandbox are completed with $SAND, the platform’s utility and governance token.
Like other blockchain games, the user-generated world of The Sandbox offers players opportunities to earn tokens that can be converted to real-world money on its platform – opportunities we will discuss below.
How do you earn on The Sandbox?
The Sandbox’s native cryptocurrency, $SAND, can be earned in several ways.
LAND is a key element of The Sandbox’s ecosystem, where players create and monetise digital experiences to flesh out the metaverse. LAND in The Sandbox is limited, with just 166,464 plots existing.
LAND can be purchased with $SAND on The Sandbox marketplace or OpenSea. LAND prices vary and are affected by factors like proximity to a valuable plot of LAND or location in a high-traffic area (much like how real estate works).
Once they have their LAND, players can rent it out to others and get $SAND in return. Alternatively, they could wait till the value of their LAND rises as demand increases due to more people joining the platform to sell their LAND for a profit.
While this method yields high returns, it is not for everyone as it requires a substantial amount of initial investment by buying LAND tokens. LAND cost at least US$1,100 at the time of writing on OpenSea.
2. Creating monetised experiences
This method requires LAND, which we have previously explained how to obtain.
The common digital experiences on The Sandbox include games and events like exhibitions and virtual music concerts. Players can create these experiences on their acquired LAND and charge other players $SAND to access them.
Players can create their games using The Sandbox’s free Game maker software. However, they need to buy or create interactable ASSETs (weapons, outfits) to populate their created experiences.
3. Selling ASSETs and services
‘ASSETs’ refer to the voxel assets which bring the experiences in The Sandbox to life. They could be game equipment, game NPCs (non-playable characters), art decorations, and environmental blocks (water, lava, etc.).
Players can create unique ASSETs with The Sandbox’s VoxEdit software, which can then be sold on the platform’s marketplace as NFTs (non-fungible tokens) for $SAND.
Players can also offer services to other players, such as design and development assistance or creative consulting, in exchange for payment in $SAND.
Unlike the last two methods, this one requires no investment since VoxEdit is free.
4. Participation in the metaverse experiences
In some cases, activities in The Sandbox can reward players with tokens. Players can participate in games and events, among other experiences created by others, to win SAND tokens and other rewards.
Players can lock their mSAND tokens within staking programs to earn a monthly allocation of mSAND. Read more about the process here.
The Sandbox offers players a variety of ways to earn and make a profit. From creating and selling content to participating in events, the possibilities are several in this vibrant, virtual world. Whether you want to monetise your skills or are looking for a fun, new way to earn extra bucks in the Web3 sector, The Sandbox is worth exploring.