Launching on the 30th March 2021, The Sandbox's NFT Marketplace will give 3D Voxel ASSET artists the first opportunity to monetise their digital ASSETs and art within The Sandbox's platform.
During phase one of this beta launch, only those who are approved artists from the Creator Fund will be able to upload their (pre-approved and commissioned) NFTs onto the marketplace. However, other community members will be able to upload NFTs at a later date, regardless of whether they are 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. Over the coming months after its official release we will be implementing improvements to our VoxEdit software, game Maker software and to The Sandbox itself to bring our vision of a true interconnected metaverse to life.
The marketplace will allow digital artists to be able to convert their art and ASSETs into non-fungible tokens, otherwise known as NFTs, on the Ethereum blockchain, where they can be sold across the world to game designers, traders and collectors.
Artists 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.
The artist will receive 95% of this revenue when their NFT sells. The other 5% will go towards supporting and incentivising other fantastic artists and game designers through the Creator Fund and the Game Maker Fund.
As already mentioned previously, only a select few members of the Creator Fund will be able to upload ASSETs during phase 2 of the Marketplace's beta launch. As time passes, more artists will be whitelisted to upload ASSETs onto the marketplace.
The Marketplace Beta will initially feature four categories of NFTs that the community can purchase. These are:
Entities - These are NFTs which will populate an experience with non-playable characters (NFTs) such as people and animals. In other words, entities that will bring a game or world to life. For example, a farmer, a chicken, a dinosaur, a treasure hunter and so on.
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.
Wearables - These are cosmetic items that will change the look of the player's avatar. These items can be mixed and matched to give players a unique fashion style to their avatars. For example, a classy t-shirt, a pair of jeans, some shoes, a hat, a pair of bunny ears 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.
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.
To learn more about The Sandbox's Marketplace Beta, take a look at our official Medium article here: