The Ethereum-based metaverse game known as The Sandbox will soon begin a three-part LAND auction in conjunction with well-known firms such as Snoop Dogg, Playboy, and Tony Hawk, amongst many others.
The Sandbox game, which is powered by cryptocurrencies and is quite similar to Minecraft or Roblox, is a free-to-play game. The utilization of non-fungible tokens (NFTs), which are made feasible by the application of blockchain technology, enables users to acquire the legal right to own assets.
In addition to this, The Sandbox gives its customers the possibility to trade the land as a digital asset on platforms such as OpenSea, which are specifically intended for the trading of digital assets.
At the auction that will take place on Thursday, there will be a total of 1,967 unique tracts of property up for sale. These parcels comprise 50 estates, 134 premium lands, 695 traditional lands, and 19 unique lands. The procedure of blind balloting will be utilized for both the premium land sales process as well as the basic land sales procedure.
According to the Sandbox, an Estate is a collection of multiple different lands that are connected to one another to form a larger component in the game. These lands can be connected to one another in a variety of ways.
LAND is a non-fungible tokenized piece of virtual real estate that also functions as a real-time construction block for the game. LAND can only be acquired by playing the game. The decentralized infrastructure of the game is the entity responsible for the distribution of LAND tokens.
Users have the same options available to them as they do when dealing with real estate in the physical world, including the ability to buy, sell, and engage in other activities with virtual real estate. There are a total of 166464 LANDs in the game, and each one is valued at 1.119 ETH. In total, the game has a total of 166464 LANDs.
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On November 24, there will be an opening ceremony, which will include performances by Playboy and The Marathon, and the sale will then get underway.
According to The Sandbox’s Co-Founder and Chief Operating Officer, “by including multiple brands that share a similar theme like the California brands of California dreamin’ users now have the opportunity to be never soft multiple partners that share similar things like choosing the district for a city.”
[Citation needed] “by including multiple brands that share a similar theme like the California brands of California dreamin’ users now have the opportunity to be never soft multiple partners that share similar things like He went on to claim that the blind ballot system ensures users get the land without any ruling Council, which provides the potential “to buy a prestigious virtual land and become Paris Hilton’s or Playboy’s or Snoop Dog’s neighbor.”
The sale of LAND will be limited to a maximum of one asset per user, and in order to be able to participate, a user’s blockchain wallet must possess at least 1011 SAND.
He went on to explain that “the biggest issue we are experiencing with our LAND sale is ensuring that we serve our community by continuing to strive towards decentralization and full ownership of its metaverse.” He said this in reference to the LAND sale that they were conducting.
This is the obstacle that they will need to overcome in order to successfully sell their land. The second phase of the LAND sale will be known as The Galleria, and it will include a virtual colonization experience that was built with the core concept of media fashion and hospitality as its foundation.
The sale is expected to start on December 1, and it is projected that it will continue through the beginning of 2023 for the third sale.
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