Today, The Sandbox will begin its LAND sale. The virtual game, based on the Ethereum blockchain, is working together with notable brands and celebrities, such as Playboy, Tony Hawk, Snoop Dogg, Paris Hilton, and others, to engage in this sale.
The three-part LAND sale commences with an introductory wave titled California Dreamin’. Popular “California-themed” labels, such as Playboy, will be symbolized in this wave.
The sale of the other themed two parts will come up sometime before the first quarter of 2023. The second wave, known as The Galleria, will come up on December 1. The themed digital neighbourhood event will be focused on the fashion, hospitality, and media sectors.
This is The Sandbox’s first partnership with several brands for a single LAND sale. According to the COO and co-founder of The Sandbox, Sebastien Borget, the integration of multiple brands into the LAND sale will allow players to live in the same neighbourhood with others who are also interested in a particular theme, like California Dreamin”.
The anticipated sale will feature an auction event for 1967 LANDs; 695 standard LANDs, 134 high-grade LANDs, 19 unique LANDs, and 50 estates. Players will be sold regular and premium LANDs using a blind ballot structure. Thanks to the blind ballot structure, anyone can own prime LAND and become neighbours with Snoop Dogg and Playboy!
A LAND is a tokenized virtual unit of real estate that constitutes the building pieces of The Sandbox. An estate is a bigger unit of land made up by conjoining smaller pieces of LANDs. Just like physical real estate, players can acquire plots of land in-game and use them to host experiences or sell them on NFT marketplaces. Currently, there are 166,464 LANDs in The Sandbox, with a plot going for 1.119 ETH. Users are allowed to purchase just one LAND in this upcoming LAND sale.
To be eligible for the auction event, each player must own at least 1,011 SAND in their wallet and must follow KYC security measures. Borget expects the tight requirements for the LAND sale will promote The Sandbox’s aim of decentralization and true ownership.