On November 23, $SAND, the native (ERC-20) token of Ethereum-based metaverse — The Sandbox, jumped to a new all-time high of $5.68 amid the anticipation of the upcoming launch of The Sandbox Alpha.
The Sandbox price skyrocketed to over $5.68 today, gaining the #41 largest crypto in terms of market cap on CoinMarketCap. At writing time, the SAND token is trading at $5.37 with a 24-hour trading volume of $5,419,376,830. This means The Sandbox is up 25.01% in the last 24 hours.
According to the The Sandbox team, The Sandbox Alpha is an open multi-week play-to-earn event that starts on November 29 at 1 PM UTC, in which players will have the chance to explore The Sandbox Metaverse for the first time, in 18 experiences.
Launched in 2011 by Pixowl, The Sandbox is a platform that allows users to create, build, buy and sell cryptocurrencies in the form of a game. Moreover, The Sandbox creates a decentralized platform for a thriving gaming community through decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs).
Based on the company's official whitepaper, the Sandbox platform aims to introduce blockchain technology in mainstream gaming successfully, facilitating a creative play-to-earn model. This enables users to be both creators and gamers simultaneously.