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The Sandbox: virtual lands, crypto and sports

admin — Tue, 29 Nov 2022 16:15:02 +0000

The famous metaverse The Sandbox, in addition to gaming and land commercialization is now focusing on sports by giving the possibility through crypto and NFTs to have a more inclusive experience.

Not just land and crypto: The Sandbox launches into sports

Animoca Brands is not only thinking about the sale of land in The Sandbox, but now also provides the opportunity to approach the world of sports through crypto.

In the wake of the enthusiasm for the Qatar World Cup, The Sandbox decided to offer its users the opportunity to have a privileged relationship with their favorites and play with them or simply participate in seminars on sports and NFTs.

The virtual space dedicated to this new sports project will be called NFTSTAR and will have as its first members the very star of Brazil Neymar Jr, legend Luis Figo and Tottenham star Son Heung-Min.

Abe Ren, who is also its co-founder, heads the new project in the service of gaming, of those who enjoy a more immersive experience with their idols, or of those who are simply passionate about sports (in the specific case of soccer).

Ren stated the following:

“We are thrilled to partner with The Sandbox to promote our brand, celebrities and proprietary NFTs. This collaboration allows us to collectively grow the community of sports, eSports and video game enthusiasts.”

COO of The Sandbox, Sebastien Borget addressing the progress in different directions made by the metaverse project where he is at the helm said:

“Sports are an important part of global culture, and as such it is a pleasure to welcome NFTSTAR to The Sandbox metaverse as we continue to grow our sports-based experiences and activations, such as the recent Kuniverse with Kun Aguero.”

The all-around experience will include sports, not only gaming but also NFT collectibles, social experiences, and whatnot.

To emphasize this concept, the programmer in charge of creating this new space, Loretta Chen, wanted to give her own view.

“It is the beginning of an exciting adventure that will include avatars, phygital experiences and the creation of a global sports space that will expand into playable social hub experiences, including a stadium.”

Key players in the metaverse include Decentraland.

As of 2021, the company together with The Sandbox has reached market cap slices of $10 billion by establishing itself strongly in GameFi.

What determined the success of Decentraland and the Animoca Brands metaverse relative to established brands such as Gucci or Adidas was the timing, which rewarded the former two in favor of the latter for less time in the industry.

Not just lights

According to DappRadar, not all that glitters is gold. In fact, the two metaverses would be empty or almost empty.

The figure that emerged is that only 20,000 users worldwide in the last month have joined the virtual world.

The MANA and SAND (the corresponding tokens) do not fare any better either, leaving 90% of their value on the field in the last year.

The end of 2022 also marks the arrival of a new competitor for The Sandbox, namely RobotEra.

RobotEra began as a gaming project with a focus on the world of cryptocurrencies, which it leverages to monetize through play-to-earn, for the buying and selling of NFTs or the proceeds from building part of the metaverse in which the user can participate.

In essence, users are actively helping to build the planet Taro, an imaginary world in which with the help of technology and robots, land is built to be resold or rented out by expanding the metaverse further and further.

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What determines the price of land in the metaverse?

admin — Sun, 06 Mar 2022 07:12:31 +0000

Metaverses are virtual spaces characterized by “land” that is sold and bought. The prices of such land in each metaverse are usually decided by the market, but are affected by some specific factors.

Factors determining land prices in the metaverse

These are somewhat technical, metaverse-related factors that affect supply and demand, and thus price.

These factors were described by Joel John, an expert in fintech and DeFi.

Metaverse real-estate has been all the rage lately but they command less than 10% of NFT trade volumes. I broke down what it is, why they matter and what drives value to them today.

Take a lookhttps://t.co/Ixx3xJqtPO

— Joel John ( , ) (@joel_john95) February 22, 2022

John points out that real estate trading in the metaverse has been all the rage lately, but by volume is worth less than 10% of total NFT trading.

The main factors affecting prices are overall affluence, memetic proximity, geospatial context, financialization and art.

Overall turnout

The same principle applies to physical locations e.g. within cities: the amount of people who frequent them. In other words, the more people who spend time on these grounds, the greater their value.

However, this factor varies over time, so the owner of a piece of land must make an effort to attract people to its space in order to increase its value.

Memetic proximity

When a piece of land is close to another valuable piece of land, its value increases. In fact, this makes it easier to attract people to one’s space if the neighbouring spaces are already highly frequented.

John also says that, according to him, the value varies depending on the concentration of footfall/eyeballs in the metaverse. That is, buying land dilutes the amount of attention they can bring to the individual land, so it does not pay to buy too much land.

Geospatial Context

The geospatial context indicates the proximity of land in the metaverse to commercial entities. Indeed, there is more money circulating where businesses are located, and proximity therefore increases the possibility of extracting value from one’s land.

This is also similar to what happens in traditional real estate, where many brands often try to merge in order to concentrate customers.

In the future therefore, the metaverse could also see collective groups coordinating to purchase large plots of land.

Financialization

Financialization is likely to be a crucial factor in the metaverse’s activities and land prices.

These are real financial acquisition strategies, both with the aim of holding and of generating returns, such as rents or sales of fractions of land at higher prices.

Art

This factor has mainly to do with games. In the gaming sector, graphics play a role that can be decisive, so the creativity and artistic level associated with land that is part of a game can have an impact on the price.

Conclusions

John argues that real estate in the metaverse will not trade in the same way as tokens in crypto markets because it has a high barrier to entry, and owners often have an incentive to develop it rather than resell it in the short term.

So for retail users, prices could eventually be exorbitant, unless land is split up, or buying groups are formed.

Indeed, he believes that an important role will be played by collectives.

He concludes by saying:

“In my eyes, present-day metaverse lands governed through DAOs are symbolic of where the internet may trend in parts and pieces—decentralised, user-owned and slightly crazy”.

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