Sandbox Metaverse Alpha launches Nov. 29 after four years in development

As The Sandbox unveils its highly anticipated play-to-earn metaverse event, SAND prices have risen to a new all-time high.

The Sandbox, a virtual property and gaming company owned by Animoca Brands, is launching a multi-week play-to-earn (P2E) Alpha event to introduce gamers to a portion of its Metaverse.

However, only a select few gamers will be able to partake in the complete experience.

Sandbox’s virtual game environment uses a play-to-earn approach to allow users to profit from their time spent in the Metaverse. Within the game, players may buy land and build NFTs, as well as earn the Sandbox token (SAND) by performing objectives. They can also put their money on the token.

The event will begin on November 29 at 1 p.m. UTC and run through December 20, according to a definite statement made on November 17. A limited number of 5000 users will have the opportunity to win up to 1,000 SAND (about $3,500 at current pricing) and three special NFTs by participating in one of The Sandbox’s 18 adventures.

The three limited-edition NFTs will be available just at the event. They’ll include a medieval-style gate, a blue and black dragon, and a longsword, all of which may be used in the Sandbox Metaverse.

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The Alpha Pass is an NFT ticket that gives 5000 people full admission to the event. One thousand tickets will be given away in a raffle for Sandbox Landowners, and 2,250 more will be given away in daily social contests over the course of three weeks to Sandbox account users. Between Nov. 29 and Dec. 19, these golden tickets will be available on OpenSea’s secondary market.

Without the pass, players will get access to three experiences as well as the Alpha Hub, a multiplayer gameplay mode featuring a variety of settings and missions, but they will not be eligible for P2E awards.

The floor price for Sandbox NFTs, according to OpenSea statistics, is roughly 1.019 Ether (ETH) worth $4,284 at the time of writing. Since late 2019, the total exchange volume has been 39,700 ETH ($165.3 million).

Animoca Brands co-founder and chairman Yat Siu told Cointelegraph that new users should take the time to carefully sample the Sandbox before purchasing tokenized land:

“I would advise individuals who want to experience it to just go to the sites, experience them, join the Discord group, and have a conversation with them.” See what it’s all about before you buy land since, as you know, buying real estate wherever in the globe is the same.”

The Sandbox secured a $93 million Series B fundraising round spearheaded by SoftBank Vision Fund 2 at the beginning of this month. The project has been under development for four years, according to the company, and it will deploy its Metaverse in “phased phases” in the future. The money will apparently be used to expand The Sandbox by creating new games and live experiences, as well as forming new relationships with well-known businesses and intellectual assets.

The price of SAND touched a new all-time high of $3.42 earlier today, according to Bitdenex statistics. SAND has had a remarkable rise in 2021, gaining 8663.5% in the last year.