A few days ago, The Sandbox announced on its Medium blog that it had broken its own records by selling over $2.8 million worth of Land, as well as 11.9 million SAND, during the month of February 2021 alone.
The Sandbox explains that this was made possible by sales on two Lands in particular, which have sold as much as $37 million worth of LAND to date.
That’s a 10-fold increase over the 12 months, and in the statement, The Sandbox also announces that 45% of all virtual lands in its metaverse have now been sold.
The NFTs of Land
These Lands are sold through OpenSea, as they are actual Non-Fungible Tokens (NFTs) based on the Ethereum blockchain.
Essentially, The Sandbox is nothing more than a virtual map where users can buy land in the form of NFTs. On this land, games can be built and banners and advertisements can be displayed.
The Sandbox and Binance
Also in February, The Sandbox started selling LAND through the CoinMarketCap website, as this is now owned by Binance, a major investor and supporter of the project. It was on Binance that the first token sale was held, raising $3 million on the Binance Launchpad platform.
The Sandbox has now established over 60 partnerships with major players in the sector, including The Smurfs, Care Bears, Atari, CryptoKitties, and Shaun the Sheep.