The Sandbox will launch a three-part LAND sale in collaboration with numerous major companies.
The Sandbox, an Ethereum-based metaverse game, will launch its three-part LAND auction on Thursday in partnership with prominent brands such as Tony Hawk, Snoop Dogg, and Playboy, among others, according to the platform.
The Sandbox is a crypto-powered game comparable to Roblox or Minecraft that utilizes blockchain technology to grant users ownership of in-game assets via NFTs and the ability to trade virtual land on marketplaces such as OpenSea.
The upcoming sale will auction off 1,967 LANDs, including 50 estates, 695 regular LANDs, 134 premium LANDs, and 19 one-of-a-kind LANDs, with standard and premium LAND sales determined by blind ballot. Multiple LANDs that have been joined together to form a larger parcel in the game.
LAND is an NFT-modified piece of virtual real estate that serves as the game’s construction components. Similar to traditional real estate, users can purchase plots of land and use the space to stage activities or exchange them on marketplaces. The game has a total quantity of 166,464 LANDs, each of which is now worth 1.119 Ether.
The sale starts on November 24 with an initial wave titled California Dreamin’, which includes “California-themed brands such as Playboy and The Marathon,” and continues with two more thematic releases until early 2023.
This is the first time that The Sandbox has worked with more than one brand during a single LAND sale.
“By including multiple brands that share a similar theme, like the California brands of California Dreamin’ […] users now have the chance to be neighbors of multiple partners that share a similar theme, like choosing the district you want to live in for a city,” co-founder and COO of The Sandbox Sebastien Borget told.
Due to the blind ballot, users will be granted the opportunity to “acquire a prestigious virtual LAND and become Paris Hilton’s or Snoop Dogg’s neighbor, or even build their own club close to Cipriani,” he said.
Users must have at least 1,011 SAND in their blockchain wallet, which was worth $526.43 at the time of press. Each user will only be able to buy one item.
Borget said that he thinks their decision to make strict entry requirements for the sale, such as requiring users to have a certain amount of SAND in their wallet and following KYC security procedures, will make the distribution of assets more fair.
“The biggest challenge we’re facing with our LAND sale is ensuring we serve our community by continuing to push toward decentralization and true ownership of its metaverse,” he added.
In the second round of LAND sales, called “The Galleria,” there will be a virtual neighborhood based on the fashion, media, and hospitality industries. The date for this sale is December 1, and the third sale is set for the beginning of 2023.
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