The Sandbox Establishes a 100 Million SAND Token Fund (Worth 35 Million USD) for Game Development Projects
In a groundbreaking event known as Creators Day, The Sandbox, a prominent metaverse platform, revealed its core plans for 2024, centered on empowering content creators within its ecosystem. With over 200 creative studios, 130,000 user-generated content creators, and 24,000 LAND owners currently on The Sandbox platform, they have already produced more than 200 metaverse experiences.
The project aspires to significantly expand these numbers, aiming to reach 2,000 creative studios by 2024, thanks to the newly established Game Maker Fund worth 100 million SAND, equivalent to approximately 35 million USD (three times the 10 million USD fund in 2021), aimed at incentivizing creators.
#CreatorsDayHK is LIVE! 🇭🇰🔴
Livestream all the key events on X or our YouTube channel: https://t.co/83NqKyOTDr
We’ve got some exciting news that you won’t want to miss. Stay tuned to see what’s in store for the metaverse! pic.twitter.com/ReUQahbckP
— The Sandbox (@TheSandboxGame) November 3, 2023
During the event, The Sandbox’s high-level management team unveiled three major changes designed to serve their core mission of empowering content creators in their ecosystem:
- Becoming an Open Content Publishing Platform for Everyone
Starting from November 3, 2023, LAND owners can instantly publish their completed experiences on The Sandbox Map, eliminating the initial slow approval process. This update opens up a completely open metaverse world for User-Generated Content (UGC). The primary goal is to accelerate content publishing and unleash the creative potential of game producers on the platform.
- Release of Game Maker Version 0.9
The Sandbox platform comprises three main components that allow for user-generated content experiences: VoxEdit, Marketplace, and Game Maker. Game Maker, in particular, enables players to create 3D games without programming skills, utilizing multidimensional image-building technology.
The Game Maker 0.9 update will introduce new game mechanics, new templates, and new social interactions to make content creation easier and provide more engaging features for players.
- Launch of the New 100 Million SAND Game Maker Fund
In 2021, The Sandbox’s Game Maker Fund supported over 200 projects with a total of 10 million USD, including titles like Chicago Noir, Astro Archaeologist, and Rare Abyss Hunter. Starting in 2024, the new 100 million SAND Game Maker Fund will empower even more creators. The Game Maker reward system will not only be based on content creation but also on the creator’s level of involvement within the ecosystem.
Nicola Sebastiani, the Content Director of The Sandbox, believes that this approach will encourage creators to enhance their experiences on the platform and convey a message: “We value your experiences. We value the worlds you build, the stories you tell, and the adventures you design within the ecosystem.”
The Sandbox (SAND) has been a well-known metaverse project in the cryptocurrency market for a long time. It received substantial investments in late 2021, during the metaverse development boom. The project raised $93 million from SoftBank’s fund in November 2021, was valued at up to $4 billion at one point, and established partnerships with numerous prominent brands and government organizations, including adidas, Warner Music, Gucci, HSBC, DBS, TIME magazine, Playboy, and the governments of Dubai and Saudi Arabia.
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