The Sandbox, Animoca Brands’ virtual property and gaming firm is opening up a portion of its metaverse to players for the first time during a multi-week play-to-earn (P2E) Alpha event. However, just a few lucky players will be able to enjoy the complete experience.
The virtual game world of the Sandbox allows users to monetize their time spent in the metaverse through a play-to-earn mechanism. Players can buy land, create nonfungible tokens (NFT), and earn the Sandbox token (SAND) by completing various objectives within the game. They have the option of staking the token as well.
According to a Wednesday release from the company, the event will begin on November 29 at 1 p.m. UTC and will go through December 20. A limited number of 5,000 players will have the opportunity to earn up to 1,000 SAND (about $3,500 at current pricing) and three exclusive NFTs by spending time in The Sandbox teams’ 18 adventures.
The three limited-edition NFTs will only be available at the event. They will show a medieval-style gate, a blue-and-black dragon, and a longsword, all of which can be used in The Sandbox metaverse.
The Alpha Pass is an NFT ticket that allows 5,000 people full entry to the event. A lottery for 1,000 Sandbox Landowners will be held, and 2,250 more will be distributed to Sandbox account users via daily social contests over a three-week period. These golden tickets will also be available for purchase on OpenSea’s secondary market between November 29 and December 19.
Players who do not have the pass will be able to enjoy three experiences as well as the Alpha Hub, a multiplayer gaming mode featuring a variety of settings and missions. Still, they will be ineligible for P2E incentives.
According to OpenSea statistics, the floor price for Sandbox NFTs is currently approximately 1.019 Ether (ETH), which is about $4,284 at the time of writing. Since late 2019, the total exchange volume has been 39,700 ETH ($165.3 million).
For new users eager to get into the virtual game, Animoca Brands co-founder and chairman Yat Siu advised Cointelegraph that they should spend time exploring The Sandbox before purchasing tokenized land:
“I would recommend for people who want to experience it, you know, just go to the places, experience them, join the community on Discord, have a chat with them. See what it’s all about before you make the plunge to buy land because, you know, it’s like buying real estate anywhere in the world.”
“You’re not going to travel over to New York and say, ‘I’ll take that,'” he added.
The Sandbox secured a $93 million Series B fundraising round spearheaded by SoftBank Vision Fund 2 earlier this month. The project has been under development for four years, according to the company, and it will deploy its metaverse in “phased stages” in the future. According to reports, the funds will be used to expand The Sandbox by creating new games and live experiences and pursuing additional partnerships with well-known businesses and intellectual assets.
According to CoinGecko data, the price of SAND reached a new all-time high of $3.42 on Tuesday. SAND has been on a stratospheric rise in 2021, accumulating 8,663.5% in the last year.