The Sandbox Game Kicks off its IEO on Binance Launchpad at $3 Million

The Sandbox is a community-driven platform for gaming, allowing its users/creators to monetize their gaming experiences and digital assets on  blockchain technologies. In August 2020, an exclusive token launch platform by Binance Futures, called Binance Launchpad, announced the support of The Sandbox for initial exchange offering (IEO).

The Sandbox is Binance’s third project to launch its IEO on the Binance Launchpad. To begin with, the company will get funds through a private round of investments from Binance Labs, a token sale will then help The Sandbox raise more funds. The Sandbox token (SAND) is expected to start at $3 million US dollars, the Binance Launchpad will adopt a lottery-based ticket claiming format for the sale and start the IEO from mid-August 2020. 

The Sandbox team has built its unique virtual realm for gaming players and enables them to own, run, and monetize their gaming experiences using the primary utility token SAND. This token is used exclusively on The Sandbox platform. The platform also accepts some Non-Fungible Tokens (NFTs). Creators on The Sandbox operate as SAND holders and can take part in the administration of the platform. Through a Decentralized Autonomous Organization (DAO), they can practice their voting rights and participate in making critical decisions involving The Sandbox ecosystem.

According to Sebastien Borget, The Sandbox’s Co-Founder and COO,  the  gaming platform is a place for users to create and earn from their gaming assets by selling, transferring, or exchanging their content. Borget emphasizes how the gaming metaverse of The Sandbox platform brings together a sizable digital community of gamers, content creators, and even some virtual real estate owners, allowing this community to use NFTs for their transactions. 

The CEO of The Sandbox, Arthur Madrid, considers this IEO via Binance Launchpad as a “strategic partnership” that helps the gaming platform leverage the power of the Binance ecosystem. Currently, The Sandbox serves to more than 2.7 billion gamers and content creators worldwide. Hence, this IEO via Binance Launchpad is a must for a massive userbase like Sandbox to advance into blockchain gaming and make it more mainstream and easily accessible, according to Madrid.