NFTs are a “thing” right now and rightfully attracting billions of investments from firms and individuals. They all sense the diverse opportunities in advertising, gaming, and more. BC.GAME, a world-leading Bitcoin casino, is right on top of this emerging sphere and is positioning itself niftily with Sandbox’s LAND in the metaverse universe. A few weeks ago, the online gambling platform received the prestigious Curacao Interactive Licensing N.V. license before turning the coveted approval into an NFT based on the ERC-721 standard of Ethereum. They are now making further moves in NFTs, purchasing SandBox’s LAND, and permanently placing themselves in the metaverse of the virtual world. Already rare, often Genesis pieces are being sold for millions. Setting the precedence was CryptoPunks, which are on-demand—even forcing fractional ownership, checking all the boxes for investors who want a piece. However, for those closely following development in NFTs, it is worth paying attention to SandBox.
What is the Sandbox?
For starters, Sandbox is not just any other NFT or crypto project. Heavyweights back it, think Animoca Brands and other tech giants drilling into gaming and are convinced blockchain is the future. SandBox has been around for eight years, existing as a virtual world where users can build, own, and monetise their voxel gaming experience in the growing metaverse. However, in recent months, and under Animoca Brands, there have been strategic changes. They are now keen on building a portal with solid plans to develop an immersive digital metaverse where the virtual world and gaming will co-exist. Users are flexible enough to build what they need without a central authority.
Moreover, they will launch on Ethereum—a leading, on-demand blockchain for NFTs. Although transaction costs may be a factor, Sandbox looks at Layer 2. Its developers are working on a solution to address this user experience-limiting challenge. For now, though, Sandbox has a platform with an NFT marketplace where users can trade valuable items as NFTs and even acquire digital land. The Sandbox marketplace was launched around July and is where participants can swap a wide range of NFT items using the SAND token- a fungible token. In the beta phase of their launch, over 100 items to choose from were delivered by more than 40 gifted artists. While everything else is interesting from an investor standpoint, Sandbox’s virtual land is courting all the attention. As mentioned earlier, LAND exists as NFTs and is prime real estate in the virtual world, the metaverse. As finite NFTs, each digital land parcel is unique based on the ERC-721 standard on the Ethereum blockchain.
BC.GAME Acquires Finite LAND in Metaverse, Joins Binance and Other Heavy Hitters
Users would expect these NFTs to be the same as others. They are wrong. Unlike Punks, for example, LAND allows for development and subsequent monetisation. This utility means that an online crypto platform like BC.GAME can now decide to build a slot or any other casino game on prime land. As in the real world, LAND varies in size——from 1X1 to 24X24– and is located in different virtual world areas. The size and location are primary determiners of value—as the basics of real estate valuation would dictate. According to the platform’s creator, there will only be 166,464 LANDs available—out of which more than half have been sold. For any investor with time spent on crypto and real-time witnessing the unbelievable bloom of CryptoPunks, the limited availability of LAND could make for a worthy investment.
Some of these LANDs have been scooped by Binance, Square Enix, Smurfs, and other original partners. Owners with LAND strategically near the location of these partners would easily see their LAND valuation rise, considering the traffic as users stream to view valuable LAND. These can be developed, and nifty investors tap them to squeeze out more revenue from advertising and deployment of other monetisation strategies, such as renting them out, for instance, if they are not keen on developing them. BC.GAME strategically purchased a 6×6 LAND—a finite resource in Sandbox—next to a parcel of precious LAND owned by Blankos Block Party, Atari, Mint Songs, and others.
In addition to developing land and monetisation, LAND can also facilitate hosting events and contests—these are digital experiences that the Sandbox’s Game Maker Software can create—once games are activated. Sandbox plans to open up its first public beta testing for players in preparation for this groundbreaking launch. Other than that, owning these precious LANDs gives the owner a voice in governance. As the project continues to decentralise, LAND owners will directly determine the direction of platform development. Users who aspire to follow the BC.GAME route by acquiring LAND can wait for the official announcement from Sandbox or straight-up head to OpenSea. LAND sold before 2021 were considered presales, and discounts were applied.
Meanwhile, those sold earlier this year by Sandbox were public sales without any discounts. All of Sandbox’s auctions are sold directly on their map. A prospective buyer must first register for an account and acquire SAND, the primary utility token used in purchasing LAND. Keeping in mind the potential of LAND and NFTs, retailers can head up to OpenSea and purchase real estate on auction. Over 21k owners control 101.6k items. Over 30.1k of ETH has been traded, revealing how on-demand LAND is.
NFTs are the future of gaming and the metaverse, and BC.GAME is positioning itself for the future. For an online gaming platform supporting a long list of popular tokens, purchasing LAND is a strategic decision. Their acknowledgement of the NFTs is yet another endorsement of the power of blockchain in gaming and online casinos.