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Tag: Cryptokitties

4M trees required to negate the carbon emissions of CryptoKitties NFTs: report

Around 4 million trees are required to offset the nearly 240 million kilograms of carbon dioxide produced by the CryptoKitties non-fungible token (NFT) collection, according to research by NFT Club, an NFT education company.  See related article: ​​NFTs and music: Is the fan outcry over NFTs’ environmental impact warranted? Fast facts Sorare, Axie Infinity, Art […]

Banking Giant HSBC Partners With The Sandbox in Move to The Metaverse

British banking titan HSBC is partnering with The Sandbox for its new venture into the metaverse. The Sandbox announced the partnership yesterday, revealing that the collaboration would help create opportunities for virtual communities across the world to engage with global financial services and sports communities in the metaverse. Under the deal, HSBC will acquire a […]

The post Banking Giant HSBC Partners With The Sandbox in Move to The Metaverse appeared first on Coin Bureau.

What is Sandbox: A Beginner’s Guide to the Sandbox Metaverse

SANDBOX METAVERSE GUIDE

Virtual worlds are no longer just for entertainment and they have become valuable real estate in their own right as a result of people’s willingness to invest time and money in them. It is irrelevant whether these goods and spaces are digital or not, whether they are virtual or real- they are valuable because they are created by people who care about them. Minecraft is one of the first games with no goals or rules, and the game is open for players to build and explore at their leisure. This is referred to as a “sandbox game”, and these games are designed in the sandbox style, allowing children to build whatever they want. What is the Sandbox? The Sandbox is a virtual world in which players can create, own, and monetize their own gaming experience. The platform is based on the Ethereum Blockchain Network and includes an in-house governance and utility token known as SAND. In-game items will be tokenized as non-fungible tokens, making them freely tradable on marketplaces. The Sandbox’s virtual world is divided into 166,464 lands. These lands are the metaverse spaces where players can create and monetize games. Land and estates can be combined to form districts, and districts can be combined to form estates. The project was launched in 2018 and is still in the early stages of adoption and development. The Sandbox’s three main components are Vox Edit, the Marketplace, and the game itself. Let’s take a closer look at the Sandbox’s components. 1. Vox Edit: VoxEdit is a 3D voxel modeling software that enables artists to create and animate 3D objects such as people, animals, tools, and so on. These in-game assets can be used in the game by the artists or sold on the market. 2. Marketplace: Users of the Sandbox project will be able to sell their creations in VoxEdit in the form of non-fungible tokens (available in ERC-721 standards). This will provide creators with an open market to monetize their creations. 3. The Sandbox Game Land: The virtual world of Sandbox is divided into several lands. After purchasing land, a user can use it to create a game and place their in-game assets. Users can use assets to decorate their land and incorporate gameplay features by assigning predefined behaviors to the assets. This can transform a piece of land into a full-fledged game. 4. The SandBox Avatar: An Avatar is an in-game virtual reality representation of a player that can be customized to suit the needs of Sandbox players. Users can try different outfits, hairstyles, and colors to get a unique look. They can also boost the attributes of their avatar with various items available in the marketplace. 5. SAND Token: Sand is the in-house utility and governance token of the Sandbox ecosystem and can be staked on a specific piece of land. As a staker, you will receive a few gems and catalysts as a staking reward, which can be used on the platform or sold on the marketplace. By 2023, the platform’s ecosystem will be converted into a DAO (Decentralized Autonomous Organization). 6. Land and Lands Map: Lands are physical spaces in the metaverse owned by players to create and monetize games and can be rented to game creators. Anyone who purchases a piece of land will be granted a LANDS token, which is an ERC 721 (Non-Fungible Token standard) token. There are a total of 166,464 land areas that can be purchased and 58% of the land has already been sold on the platform. Revenue Model of The Sandbox platform The Sandbox team has identified the following five revenue streams that would help in managing and growing the platform: 1. Advertising Revenue  Businesses will be able to advertise their products or services on the Sandbox platform, and the platform will charge a fee for these services. 2. Company NFT Sales  In addition to the NFTs created by the individual artists, the company also has its own in-house NFT to be sold in the marketplace. 3. LAND sales  Sandbox has been selling the LAND pieces in auctions, which has generated revenue for the platform. 4. Player Subscription and Services  The company would make money from players by charging them subscription fees and other service fees in order to give them access to exclusive in-game features and premium assets. 5. Transaction Fee  The Sandbox would charge a 5% transaction fee on every transaction on the platform. As a result, as the platform grows in popularity, transaction fees will become the primary source of revenue. Partnerships The Sandbox has several renowned partners, such as: Atari Axie Infinity Binance CryptoKitties Dapp Harmony Network Kyber Network Polygon Network Conclusion The Sandbox is a new virtual world that aims to replicate the success of Minecraft in the gaming industry and monetize the whole gaming … Continued

The post What is Sandbox: A Beginner’s Guide to the Sandbox Metaverse appeared first on Cryptoknowmics-Crypto News and Media Platform.

Meet the Firm Providing Infrastructure to the World’s Biggest Blockchain Projects

One of the world’s most highly valued blockchain companies isn’t an L1 chain nor an NFT studio.

Ethereum Hits Major Milestone: 1 Million Unique NFT Buyers

Ethereum

Ethereum, the second-largest blockchain, officially reached the 1 million unique NFT buyers mark on Sunday, seven years since the first NFT was minted on Ethereum blockchain. As rival ecosystems have seen formidable growth, threatening Ethereum’s dominance, the announcement shows that Vitalik’s offspring still lead the NFT game for the time being. According to the most [...]

The post Ethereum Hits Major Milestone: 1 Million Unique NFT Buyers appeared first on Blockonomi.

UniX Gaming: Meet The Future Of Play-To-Earn in the Metaverse

UniX Gaming is a community-centric platform that aims to become home to gamers within the metaverse and provide scholarships to help people in developing countries get involved in the booming play to earn arena. The concept of generating revenue through virtual games has remained the hottest keyword this year, thanks to the increased interest in [...]

The post UniX Gaming: Meet The Future Of Play-To-Earn in the Metaverse appeared first on Blockonomi.

US Treasury Department Concerns NFTs Crime of Money Laundering


The growing popularity of digital artworks as highly valued non-fungible tokens (NFTs) is now a major financial red flag as the United States Treasury Department believes they could be a vital tool for money laundering. (Read More)

Outlook 2022: The many faces of crypto scalability

BIT Digital's Ha Duong explores how the theme of crypto scalability could evolve over the course of 2022 and beyond.

The post Outlook 2022: The many faces of crypto scalability appeared first on The Block.

Flow Price Prediction – How Much Will Flow Be Worth in 2022?

Flow Price Prediction – How Much Will Flow Be Worth in 2022?

Bullish FLOW price prediction is $7.28 to $13.11. The FLOW price will also reach $15 soon. FLOW bearish market price

The post has appeared first on thenewscrypto.com

‘Web2’ king Alphabet exploring ‘web3’ and blockchain, says chief Pichai

Google parent Alphabet's chief exec Sundar Pichai says the company is keen to help develop the blockchain ecosystem wherever it can.

The post ‘Web2’ king Alphabet exploring ‘web3’ and blockchain, says chief Pichai appeared first on Protos.

Demystifying Ethereum Token Standards

Token standards are there to ensure the foundations are already laid

The Top Five NFT Marketplace Alternatives to OpenSea

Key Takeaways OpenSea has become the home of NFT trading, but its various problems are leading users to seek out alternatives. LooksRare caused a...

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