Sandbox set to launch metaverse NFT platform
Sandbox teams up with SandStorm to launch metaverse NFT platform
Gaming app The Sandbox is to launch a multimedia metaverse non-fungible token (NFT) platform at its weekly virtual event NFT.NYC on 1 December.
The Sandbox is a popular virtual world or ‘metaverse’ using the Etherium blockchain, where users can own land and monetise their gaming experience.
Now SandStorm, one of the game’s external developers, has partnered with The Sandbox to support builders, creators and land owners.
The new NFT platform will enable users, both newcomers and veterans, to buy NFTs in real-time while tuning in to weekly streams inside The Sandbox metaverse, which is designed on a virtual real estate map.
“The Sandbox platform allows any creator, whether they are a land or not, to mint their assets made using VoxEdit, our 3D-modelling and animating tool on the marketplace and put them for sale as NFTs,” said Sébastien Borget, COO of The Sandbox and co-founder of Currency.com.
“By extension, any user – but also brands – can mint his own NFTs and turn his land into a shop so other users can see and preview his NFTs in 3D directly from within the virtual world,” he explained.
The metaverse NFTs
Unlike other marketplaces such as OpenSea or Rarible, supporting art, trading cards and other NFT categories, SandStorm says it will focus exclusively on metaverse NFTs or NFTs usable only on The Sandbox map.
The platform will make it possible to move assets between The Sandbox and OpenSea, giving newcomers a seamless experience. Since metaverse gaming is transaction-heavy, early next year the SandStorm NFT platform will get an integration with the Polygon Network, a layer 2 Ethereum solution that saves users gas fees.
"Our mission is to on-board the next 100 million users into the metaverse using a simplified NFT platform and community-driven approach. Reaching over one million people every month, SandStorm is on track to become the primary bridge for over $100bn virtual event space and over $200bn gaming industry within five years," said Steve McGarry, CEO at SandStorm
The Sandbox recently completed a $93m series B funding round led by SoftBank Vision Fund 2, while celebrities such as Snoop Dog and Guy Oseary have joined its advisory team.