The Sandbox Holds Largest LAND Sale To Date

The Sandbox Holds Largest Land Sale To Date
The Sandbox Holds Largest Land Sale To Date

The Sandbox (SAND) has started another sale of virtual land plots. Within just one hour, the sale has marked a new record for the NFT project, selling virtual land for more than 2.6 million USD.

New Records for The Sandbox

In total, 1,874 1×1 land plots and 13 3×3 plots are on sale. Additionally, 19 larger estates will be auctioned. Sandbox estimates that the total revenue from the sale will surpass 10 million SAND (~6.35 million USD). The land plots come for 4,683 SAND (2,950 USD) and contain three NFTs that can be used to decorate the virtual land, or sold on the marketplace. The Heavy Metal band Avenged Sevenfold has contributed two of the NFTs that will be included in the land plots for the current round.

DappRadar reports that the daily transaction volume has increased by over 1,500% to 3 million USD, earning The Sandbox the second-highest ranking among NFT projects by volume. The number of daily unique traders has increased by 265% and the total number of trades has increased by 532%.

The price of SAND has hit a new all-time high on March 28th at $0.85. At the time of writing, SAND trades for $0.63.

The Sandbox Holds Largest Land Sale To Date
All-time price chart of The Sandbox (SAND). Source: CoinMarketCap.

The Sandbox Marketplace Opens its Doors

Like most other NFTs, land plots and in-game items on The Sandbox can be traded on OpenSea. Additionally, there is now an NFT marketplace exclusively for the virtual land game where NFT designers can monetize their creations, such as in-game characters, wearables, equipment, or digital art.

So far, there have been 46 artists that have been whitelisted for exclusive access to the Market’s Beta version that was launched on March 30. Selling creations on the marketplace will become available to the public soon. Sellers will receive 95% of the sale price with the remaining 5% going to the Sandbox Treasury and the Foundation to be redistributed to the Game Maker Fund and the Creator Fund.