Blockchain-powered gaming experience, The Sandbox, will hold a $3 million token sale for the ecosystem's main utility token, SAND. The sale will be held through the Binance Launchpad platform.
This follows a private round investment by Binance Labs and will be only the third token sale held on Binance's token launch platform so far this year.
Sandbox already making big wavesThe Sandbox is a community-driven platform that allows users to play, create, and monetize gaming experiences within its metaverse.
It has already held a number of presales for its LAND tokens, representing virtual space in the game.
Levelling up with Binance involvementSAND is the main utility token in the Sandbox metaverse, and will be used by gamers and creators to buy and sell LAND and ASSETS, and provide rewards to creators and LAND holders.
"There is an incredible expectation around the Metaverse concept and economy, and we do believe millions of players are interested in exploring the benefits of decentralization, interoperability, and the creator's ecosystem. Having Binance as a partner will help The Sandbox to bridge the gap and help on boarding the Roblox and Fortnite generation to a new gaming experience where they can own, earn and trade everything in the game."
The $3 million token sale will start on Aug. 13 at 6:00am UTC. As with other IEOs held on the Binance platform, it will take on a lottery format.
Users will be able to claim up to ten tickets based on their average Binance Coin holdings in the seven days preceding the sale.
A maximum of 15,000 winning tickets will then be drawn, each being allocated 2,400 SAND tokens at a total price of $200.Binance's involvement, both as an investor and host for the token sale, brings benefits such as easy future trading of the in-game tokens on the Binance exchange.
"We are delighted to welcome The Sandbox to the Binance ecosystem. We hope that together we will be able to spread the power of blockchain as the lead technology in the gaming industry."
'The Sandbox' Game Announces $3M Token Sale Through Binance Launchpad
Published on Aug 5, 2020
by Cointele | Published on Coinage
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