In order to be competitive in the world of cryptocurrencies, coins must have unique features and use case scenarios. SAND is a token which definitely has an application unlike any other. SAND is an in-game currency that simultaneously constitutes a digital asset with an actual value. Learn more about the SAND coin by reading this article and discover how you can accept SAND.
- SAND is a governance token of the Sandbox platform.
- Sandbox players use SAND to buy LAND and ASSETS.
- Businesses can accept SAND as payment and donations by utilizing NOWPayments merchant tools.
How does Sandbox work?
Sandbox is a cryptocurrency with a ticker symbol of SAND which is the native token of the Sandbox ecosystem. Sandbox itself is a gaming platform deployed on the Ethereum network, a major blockchain for decentralized projects. In its essence, Sandbox is a full-blown online game where players can purchase resources in the form of plots of land. In addition to trading their resources, they can create their own game experiences and make them available for others to acquire.
Creators and artists are using Sandbox in droves producing all kinds of items. Sandbox is free to play, and no prior fee is required to start actively engaging with the game’s world. Sandbox has a system of special tokens which ultimately make the entire ecosystem run. In addition to SAND coin, there is the LAND token which proves players’ ownership of digital land.
There are also ASSETS which are the items created by members of the community. In order to buy LAND and ASSETS, one needs to have some SAND in their wallet. LAND is a non-fungible token, and SAND is fungible. In other words, while each LAND token is unique, SAND coins are interchangeable and work in a way similar to Bitcoin and Ether.
How to use SAND?
SAND crypto has several key applications inside and outside of the Sandbox ecosystem.
- Gaming. First of all, players need to own SAND to play various games existing in the universe. The lack of SAND funds automatically prevents players from entering games developed by other members of the community.
- Purchases. SAND is also essential for purchasing equipment and customizing avatars.
- Other tokens. Of course, as mentioned earlier, without SAND, players simply cannot get LAND and ASSETS, the most valuable elements of the platform which have varying prices. Moreover, in order to upload ASSETS to the marketplace, artists first need to spend SAND.
- Governance. SAND, as a utility token, provides governance rights to its owners. People holding SAND in their wallets get a chance to propose changes to the platform and vote on the modifications offered by other SAND holders. SAND also enables users to delegate their voting rights to others.
- Staking. SAND can be used for staking in order to receive more SAND in the future. 2.5% from every transaction involving SAND is automatically allocated to the staking pool as a reward to all users who stake their tokens. Another 2.5% of each SAND transaction is given to the Foundation, the body which is tasked with overseeing the development of the Sandbox platform.
- Exchange. As any cryptocurrency, SAND can also be used as a medium of exchange. Essentially, any person or business can accept SAND tokens or pay with them, as well as trade them.
How to accept Sandbox payments?
Since Sandbox is a popular digital universe that is daily attended by hundreds of players. As a result, there are thousands of people who hold the SAND token and utilize it for different purposes. Businesses that want to target crypto owners can get the attention of the SAND investors by featuring SAND payments.
NOWPayments has designed several tools for accepting the Sandbox coin as payment or donations.
Merchants can create crypto invoices or issue them for each client individually with the help of a crypto terminal. Owners of eCommerce stores hosted on PrestaShop, WooCommerce, Magento 2, WHMCS, OpenCart, Ecwid, Zen Cart, Shopify, and Shopware can accept SAND using crypto plugins.
Charities and bloggers can collect SAND donations from their donors and audience members with convenient widgets, buttons, and links. The SAND crypto is a great opportunity for businesses to enter the world of cryptocurrency. NOWPayments will do its best to ensure that your experience with accepting the SAND coin is smooth and seamless.
The crypto SAND is a powerful token which is important for the Sandbox ecosystem. SAND is a currency that provides Sandbox players with access to their favourite platform. Investors can stake SAND and receive rewards for it. Businesses can accept SAND as payment and open their doors to crypto enthusiasts using NOWPayments.