The Sandbox announced today that they had introduced a new staking medium for LAND owners. The decentralized gaming platform developed by players made this known today through their Twitter accounts. This new development in the gaming ecosystem will enhance LAND owners’ exclusive rewards.
The Sandbox Game is a community of players where content creators and artists monetize voxel assets on the platform. With over 140k cool avatars, you can play any game of your choice on Sandbox and earn as many NFTs as you can. You can also bring your NFT to life by influencing your gaming experience on the blockchain.
TVL in the new exclusive LAND Owner staking pool: >US$4.3M 🚀🤯
Join others in staking your $SAND NOW 👇https://t.co/Fp8ArBed8X pic.twitter.com/mbpRaGDx0U
— The Sandbox (@TheSandboxGame) September 25, 2022
The Sandbox Game
As implied by the name, Sandbox is a platform with $SAND as its main utility. With the platform’s unique digital currency, you can buy and sell assets, most especially LAND in the Sandbox metaverse. It changes the gaming experiences on the blockchain, making it inclusive, even to LAND owners.
Non-fungible tokens (NFTs) are digital assets that are specially minted on the blockchain. Their unique features and characteristics include authenticity, privacy/security, and immutability. Not only are they non-interchangeable, but they are also indivisible and only grant the true owner the in-game use.
Furthermore, NFTs are the next big thing in the metaverse and the web3 gaming space. There are now pictures for profile (PFP) NFTs and different gaming models that make use of NFTs to reward players. Several platforms are now permitting the use of NFTs and other digital currencies to validate payments and transactions.
The Sandbox gaming platform also rewards creators with its currency when they participate in the available game. There in the platform, you have access to “a LAND,” which is a portion of the Sandbox metaverse. This portion offers users direct access to exclusive content. Aside from that, players stand a chance to monetize their arts and creation on the metaverse.
It is also a community-driven platform where you can invite friends, host virtual events, and build your blockchain experience. With the new development, you can now explore a broader staking option as a LAND owner. Let’s look at the new staking mechanism and how do you come in as a LAND owner. LAND owners will stand a chance to be rewarded with exclusively high APR rewards by staking sand.
Land Owners Exclusive Sand Staking
When it comes to the blockchain and metaverse as a whole, the significance of LAND owners cannot be overemphasized. They are simply a part of a whole system that thrives in the digital space. They not only own portions of the metaverse, but they also come together to build a digital community.
New developments and beneficial programs like this will not cease to motivate and inspire them to do more since everyone across the globe comes together on the metaverse to create a future in content, entertainment, and art. The new staking program is in a bid to bring additional value to Sandbox land owners.
Before introducing this new mechanism of staking, the last innovation was the land multiplier. This feature allows LAND owners to create multiple quantities of their LAND on the SAND staking program. To participate in this new program, it is a prerequisite that you own at least one LAND on the platform.
Everything You Need To Know
With your LAND, you can speculate on 500 SAND on your LAND, and this is not limited to any quantity. You can stake as much SAND as the LAND in your digital wallet. Below are the major key points of the new development, as well as the perks and benefits that come with it.
- The staking option started on September 22 at 4:00 PM UTC, and the rewards became available an hour after (September 22, 2022, at 5:00 PM UTC).
- You can potentially earn a high APR as a LAND owner by simply staking your SAND tokens ($SAND)
- The new option is exclusively open to land owners on the Polygon network.
- For the first twelve weeks, you stand a chance to get 250,000 SAND rewards every week.
- The more LAND you own in your wallet, the more SAND you can stake. Minimum cap pegged at 500 SAND on every LAND.
- SAND earnings are available for claiming and withdrawal once a week
- Smart contract doesn’t come into LAND staking with this new model.
- The platform’s immutable feature help you keep a record of your transaction. The system automatically detects LAND transfers, and the report of each transaction will be made available to you.
- Being a LAND owner on the metaverse is now rewarded. LAND is no more liability in the digital space.
- Further updates and announcements on the exclusive SAND staking offer for LAND owners will be available on the blog section of the platform as well as on their Twitter and Medium accounts. Stay tuned for them.
Staking and Benefits from all existing staking program
Another important thing is that the new offer is just a gaming model, so it allows combining with the existing ones. You can utilize the available staking programs alongside this and increase your benefits and rewards on the long run.
- Earn SAND tokens by staking SAND
- Earn SAND toke s by staking MATIC/SAND
- Earn exclusive APR and lots of SAND by staking SAND as a LAND owner
Issues Arising
Do I need to speculate on my LAND to use the exclusive LAND owners pool?
No! You don’t need to speculate on the available LAND in your wallet before you can access the benefits of the new staking model. The built-in system on the platform will detect your LAND transfers and count them as a contribution to the pool. This will stand in the position of entering the smart contracts.
That being said, you can enjoy the existing, new, and upcoming features on the Sandbox platform. You keep your LAND ownership and enjoy all the perks and incentives that comes with being a LAND owner. For the staking contract address, you can check it out here.
What next?
If you own a LAND in your wallet, go and try out the new staking mechanism. If you are not a LAND owner yet, all you need to do to join the exclusive offer is to buy one or more LAND on Opensea. Apart from the new program, you can try out SAND only Staking program and the MATIC/SAND staking program.
