SAND token prices have surged to a new all-time high as The Sandbox announces the launch of Metaverse Alpha, its highly anticipated play-to-earn metaverse event that was 4 years in the making.
The Sandbox, a virtual gaming world owned by Animoca Brands, is opening up part of its Metaverse to players through a play-to-earn (P2E) Alpha event, but a select few will enjoy the full experience.
If you want to know more about the metaverse, we’ve put together a guide explaining what a metaverse is.
In Sandbox, players monetize the time spent in the Metaverse via a play-to-earn model. The Metaverse is pioneered by platforms like Decentraland. They can buy land and create NFTs within the game. They complete challenges to earn the Sandbox token (SAND), which can also be staked.
Just 5000 users will get access
Sandbox announced today that the event would start on November 29 at 1 pm GMT and continue until December 20. Only 5000 users will have access. They can earn 3 exclusive NFTs and up to 1,000 SAND by spending time across 18 experiences developed by The Sandbox teams.
They won’t have access to the three exclusive NFTs outside the window of the event. All of the NFTs will be usable in the Sandbox Metaverse.
The highly coveted Alpha Pass
The Alpha Pass is an NFT ticket that grants the first 5000 players full access to the event. Just under half of the passes will be distributed to Sandbox account holders via daily social contests. Another 1000 will be given out in a raffle for Sandbox Landowners. OpenSea exchange will sell the tickets between Nov. 29 and Dec. 19.
OpenSea reports the price for Sandbox NFTs is just under 1000 Ether, equivalent to $4.25 million at the time of publication.
Animoca Brands co-founder and chairman Yat Siu told Cointelegraph:
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. I mean, you’re not going to just fly over to New York and say, I’ll take that.
Sandbox closed almost $100M series B funding round
At the beginning of November, the virtual world closed a $93 million Series B funding round led by SoftBank Vision Fund 2. According to The Sandbox, the Metaverse will launch in “phased stages” in the future. It was in development for 4 years. The money will be used to develop new games and live experiences.
