About The Sandbox Marketplace Beta
The Sandbox's NFT Marketplace gives 3D Voxel Asset artists the first opportunity to monetise their digital Assets within The Sandbox's platform.
About the Beta
During phase one of this beta launch, only those who were approved artists from the Creator Fund were able to upload their (pre-approved and commissioned) NFTs onto the marketplace. However, before the marketplace opening to the public, other community members were able to upload NFTs at a later date, whether they were a member of the Creator Fund or not.
The Marketplace Beta is just the first step of integrating our own marketplace into The Sandbox's metaverse. In the months following the marketplace official release, improvements to our VoxEdit software, game Maker software, and to The Sandbox itself were implemented to bring our vision of a true interconnected metaverse to life.
The marketplace will allow digital artists to be able to mint their art and Assets as non-fungible tokens, otherwise known as NFTs, on the blockchain, where they can be sold across the world to game designers, players, traders and collectors.
Monetising NFTs
Sellers will be able to determine themselves what their NFT is worth and price it accordingly. But several factors should be taken into consideration, such as the uniqueness of the NFT, the scarcity and the quality, for example. The Sandbox will add 5% on top of this price.
For example: If an artist prices their NFT at 500 $SAND, then The Sandbox will add 5% on top of this and list it on the marketplace at 525 $SAND.
This means that the seller will receive 100% of the SAND that they list their NFT for. The 5% that was added on top will be split between the Foundation fund (which goes towards supporting and incentivising other fantastic artists and game designers through the Creator Fund and the Game Maker Fund) and the staking fund.
Only a select few members of the Creator Fund were able to upload Assets during phase 2 of the Marketplace's beta launch. Over time, more artists were whitelisted to upload ASSETs onto the marketplace.
NFTs on the Marketplace Beta
The Marketplace Beta initially featured four categories of NFTs that the community could purchase:
Entities - These are NFTs which populate an Experience with non-playable characters (NFTs) such as people and animals, buildings, vehicles, environmental, and so on. Entities bring a game or Experience to life with physically interactive content that can be assigned behaviours and interactive components.
Equipment - These are NFTs that can be placed in the player's inventory. They can be equipped in order to help the player complete game objectives. For example, a sword, a shield a helmet, a pair of gloves and so on. They can be infused with a Catalyst and Gems to modify gameplay, or they can be cosmetic to modify the appearanc of player Avatars. For example, a t-shirt made for members of a community, a pair of bunny ears, wings, and so on.
Art - These are NFTs that serve mainly as visual decorative items to add some wow factor into games and experiences. For example, framed artwork, statues, landmarks and so on. Assets may no longer be categorised as Art, but increasing the rarity using a Catalyst can reduce the number of available copies for special artpieces.
Buying from the Marketplace Beta
Anybody who has an account at The Sandbox will be able to purchase NFTs from The Sandbox's marketplace. You would need to have $SAND in the cryptocurrency wallet that is attached to your Sandbox account, as well as ETH for the blockchain's transaction fees (gas).
You can try any ASSETs before you buy them. To do this, click the + symbol on the bottom of the ASSET in the marketplace. This will add it into your inventory to place and experiment with in the Game Maker software. Note that you won't actually own the ASSET unless you purchase it and will not be able to publish a game or experience using the ASSET until you have done so.
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