How to Buy The Sandbox (SAND)

The Sandbox is a metaverse and decentralized virtual gaming world on the Ethereum blockchain. The Sandbox allows players to buy digital plots of real estate, called LAND, on the platform and create experiences for other players on top of them. 

The Sandbox was originally released as a mobile game in 2012. Early development was led by Sébastian Borget and Arthur Madrid. In 2018, game developer Animoca announced its intentions to create a 3D Sandbox-style world using blockchain technology. In 2020, The Sandbox team held an initial coin offering (ICO) to raise funds for its operation. The current platform was officially launched on November 29, 2021.

SAND tokens are the native cryptocurrency of The Sandbox metaverse and are used to purchase LAND, interact with user-generated content and vote on decisions affecting the future of the Sandbox decentralized autonomous organization (DAO). SAND is an ERC20 token issued on the Ethereum blockchain. 

Want to dive deeper? Read Kraken’s What Is Sandbox? (SAND) to learn more.

The Sandbox has become a leading metaverse platform for the acquisition and sale of digital land. Its success may be attributed in part to the unique tools offered to users for NFT asset creation. 

Creators within The Sandbox offer a wide range of in-game items for sale in the online marketplace. These NFT-based game assets allow LAND owners to develop their real estate in new and interesting ways. In this way, the future growth and development of The Sandbox metaverse is placed in the hands of its users. 

SAND is the native utility and governance token of The Sandbox metaverse. It is used to purchase in-game items and plots of land within the platform’s online marketplace while also allowing holders to interact with user generated content, like games. 

SAND coins also serve as a governance token that allow holders to vote on decisions affecting the future direction of the platform. Governance participants may vote on a range of proposals, from philanthropic donations to the types of content that may be included in the metaverse.

The Sandbox is currently secured through a proof-of-stake (PoS) consensus algorithm. Validators for the Sandbox stake SAND coins for the right to process network transactions. Validators are rewarded with SAND for helping to secure the network.

Approximately half of the 3 billion SAND coins that make up its maximum supply are currently in circulation. The Sandbox’s market capitalization can be calculated by multiplying its circulating supply with the token’s current market price. 
You can check SAND’s current market price and circulating supply on Kraken’s SAND price page.

With more than a decade of experience, Kraken has established itself as a pillar of the cryptocurrency industry. While we have grown to now offer over 185 cryptocurrencies, we remain one of the best places to buy SAND.

You can buy Sandbox tokens on Kraken with as little as $10 since each SAND is divisible into smaller units. While you do not need to execute larger orders, Kraken’s advanced price discovery and execution technology helps offer some of the best rates of any cryptocurrency exchange.
 

Your verification level determines what you can do with your Kraken account. This can be located by signing into your account, selecting your name in the upper right and then selecting Get Verified. You will then see highlighted your current (pending or verified) level.
 

Dollar cost averaging is a popular strategy that allows you to invest in an asset at regular time intervals using fiat currencies (cash) and other payment methods like a bank transfer, regardless of its price. This sort of recurring buy strategy is designed to help build wealth over time while minimizing the impact of unpredictable price changes.

Kraken works hard to protect your SAND
When you buy Sandbox with Kraken, your crypto is automatically stored in our hot wallet — an accessible but highly secure place to keep your SAND safe.

Kraken allows you to hold your own Sandbox
Our rigorous security standards ensure that our users’ crypto is always safe on our platform. However, if you want to hold or transfer your Sandbox, Kraken allows you to take full custody of your SAND in the wallet of your choice, unlike many other fintech services. The Sandbox can easily be stored on hardware wallets, web, or mobile wallets.

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Disclaimer
Information provided in this “Learn” section is for general educational purposes only and is not intended to constitute investment or other advice on financial products. Such information is not, and should not be read as, an offer or recommendation to buy or sell or a solicitation of an offer or recommendation to buy or sell any particular digital asset or to use any particular investment strategy. Kraken makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.