The prices of Sandbox tokens rose to a new all-time high. It happened after the Sandbox announced its highly awaited P2E metaverse event.
Gaming company and Animoca Brands’ virtual property The Sandbox reveals part of its Metaverse to gamers via a multi-week P2E Alpha event for the first time.
However, only a few lucky gamers will get to enjoy the entire experience.
Sandbox’s virtual gaming world allows its users to monetize their time spent in the Metaverse via a P2E (play-to-earn) model. Players can purchase land, design NFTs, and make SAND by completing various levels. Gamers are also able to stake the token.
According to the announcement from the company, the event will start on November 29 and continue until December 20. A previously selected group of only 5000 players will have the chance to earn around $3,500 at current prices (equal to 1,000 SAND). Besides, they can exclusively get NFTs via time spent across 18 adventures created by The Sandbox teams.
There will be three exclusive NFTs available only during the event. They will illustrate a blue and black dragon, a medieval-style gate, and a longsword opens in the Sandbox Metaverse.
An NFT ticket called the Alpha Pass grants 5000 individuals full access to the event. One thousand are for Sandbox Landowners, and 2,250 will go to Sandbox account holders over a three-week period. The golden tickets will also be on OpenSea’s secondary market between the end of November and the beginning of December.
Gamers without purchasing the pass will access the Alpha Hub, which is a multiplayer gaming mode featuring a variety of locations and quests. They can also access three experiences, but they can not participate in P2E rewards.
According to data from OpenSea, the base price for Sandbox NFTs is around 1.018 Ether, worth $4,285. Total trade volume has remained at 39,800 ETH, equal to $165.3 million since the end of 2019.
At the beginning of November, The Sandbox closed a $94 million Series B funding round managed by SoftBank Vision Fund 2. The company said that the plan has been in development for around four years.
Finally, it will launch its Metaverse. The funding will scale The Sandbox by developing live experiences and new games while exploring additional partnerships with intellectual properties and famous brands. According to data from Coingecko, earlier today, the price of SAND beat a new all-time high of $3.43.