![]() On top of that, the system we created charges a small amount of $SAND to anyone who wishes to upload a new creation. Creators can eventually be penalized if they don’t respect the rules set by this community. This system also allows curation to scale with the community, rewarding $SAND owners with a community role and a potential revenue stream. This is a staking fee mechanism to prevent the issuance of copies or inappropriate content to appear in the game, because that would have a negative impact on our ASSETs. Since we take quality content very seriously, we decided to implement Asset Curation. Each ASSET (Non-Fungible Token) will be a personal creation from one of our players. The Sandbox is a game centered on user-generated content. In addition, $SAND will be required whenever a user wants to mint an asset, depending on the rarity (global power) and scarcity (amount of copies) of that specific asset. It will allow users to purchase services or assets and to trade and play - it will constitute the medium of exchange and will act as a value accrual token. The $SAND token constitutes the currency used to perform any type of transaction within The Sandbox. Basic SAND functions (Yes, you can make castles with it) Through the use of ERC-1776, The Sandbox allows platform users to initate transactions on the Ethereum blockchain while transaction gas fees are paid by the platform, optimizing overall user experience. It also defines how ERC-20 tokens are transferred within the Ethereum Blockchain.Īpart from that, $SAND implements the current draft of EIP-1776, a proposal we put forward to standardize native meta-transactions (see image below), which allow users of EOA based wallets (like Metamask) to perform actions on Ethereum without the need to own Ether - the currency that at the moment constitutes a necessary condition to perform a transaction in that blockchain. This standard makes it easier for developers to predict with more accuracy the interaction between different Tokens and applications. Let’s get into the deets, shall we?Īs we mentioned above, $SAND implements the ERC-20 standard, a technical guideline that regulates the issuance and implementation of Tokens on the Ethereum Blockchain. Got it? That said, $SAND is the token that is used by gamers, developers and publishers throughout The Sandbox ecosystem as our main currency, with which you’ll be able to perform any type of interactions and transactions. You can’t use a FIAT currency to play with those machines, so you buy special coins. In simpler words, tokens are like the coins you buy at an arcade to play video games. In case you don’t know, a token is a cryptocurrency that is hosted on top of an existing blockchain–in this case Ethereum–and it represents an asset that has a utility. So far so good… But what is $ SAND then? $ SAND is a Token. The inventor of Ethereum, Vitalik Buterin, defined them in the Ethereum White Paper, where he explained that smart contracts are “systems which automatically move digital assets according to arbitrary pre-specified rules.” For that reason, it is the perfect instrument to control valuable things, like Ether or other digital assets. As the code is kept in the Ethereum blockchain, it is immutable. So why is it called a contract? Because it works like a traditional agreement it is a computer protocol that enforces the performance of transactions without the need of a third party. ![]() The Sandbox is currently running on Ethereum blockchain, but we are working to support multiple chains in the near future. ![]() A smart contract is a piece of code that runs on a blockchain. ![]()
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