The Sandbox is well known for its two big mobile successes, The Sandbox (2011) and The Sandbox Evolution (2016), which totaled 40 million downloads on iOS and Android. Pixowl, a developer/publisher from mobile, decided to bring this successful User Generated Content gaming IP and large community of creators to the blockchain ecosystem in 2018. The goal is to disrupt existing game makers such as Minecraft and Roblox by giving creators true ownership of their creations in the form of NFTs and rewarding them for participating in the ecosystem.
Source: Sandbox Medium
We also recommend that you review the full list of op updates that were introduced in Sandbox's Alpha Season 3 this summer.
The staking system went live on September 22nd and requires only SAND tokens to be staked. SAND is the primary utility token used to purchase and sell LANDS and ASSETS in the sandbox metaverse.
The team published a detailed post on Medium, so we will summarize the most important points here.
To begin with, LAND owners benefit from high APR rewards by staking SAND. This is how it will work:
If you own a LAND, you can stake your SAND tokens at a very high APR.
This will work for all owners on the Polygon chain.
For the first 12 weeks, all LAND owners will receive 250,000 SAND rewards.
You will receive 500 SAND per 1 LAND. Of course, if you have more LAND, this multiplies.
Claiming is permitted once each week.
Because this is utility staking only, you are not staking your LAND in any smart-contract.
If you transfer (buy/sell operation) your LAND to another person, or acquire additional LAND, your score will be updated in real time, since the Sandbox team designed a specific technology to compute it appropriately.
Because staking began on September 22, all rewards began on the same day.
Source: The Sandbox Medium
There's more: the team hinted at a special staking incentive that would be disclosed shortly. It's worth keeping an eye on.
Remember that the Sandbox Metaverse is a unique environment with a large community of like-minded individuals who are always working to improve it. Staking, of course, increases the value of any LAND proportionately. Certainly, the SAND staking and big APR payouts weekly offer up a wide range of choices for you, so purchasing additional LANDs might be pretty useful. So, what more do you need to know about staking, and are there additional staking programs available? Yes, look at this:
1. Stake SAND to get SAND
2. Stake MATIC/SAND in order to get SAND
But, with the implementation of this LAND owner-exclusive staking scheme, the weekly SAND and SAND-MATIC staking payouts will be lowered to 250,000 SAND and 75,000 SAND, respectively.
And, once again, you are not staking your LAND! With this new staking method, which refreshes your part in the pool on a regular basis, you may freely enjoy your advantages as an Owner. All you need to do is keep a LAND in your wallet and use it as you see fit.
If you'd like to have a peek at the SAND Staking smart contract:
https://polygonscan.com/address/0xD3A9CAa25393765c05ce9f332B5E33b5E33D8B8F
If you still don't have a land, we recommend that you look at the rankings on our website to get the best one.
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