Please note that I am not a financial advisor. The following article is for the sole purpose of providing educational information on the topic discussed.
In a previous post dedicated to the videogame The Sandbox, I explained that this is a game/platform based on the Ethereum blockchain in which players can create their own virtual worlds, games, characters, and objects to later monetize and share them with other users.
Play-to-Earn videogames based on blockchain technology and the Metaverse have important differences and advantages over other similar games such as Minecraft or Roblox since they are decentralized games in which all your digital assets really belong to you, besides that, you can also financially benefit from them.
In this continuation post about The Sandbox, I’ll show you what you need to know to start making money with this great game, and what are the options available for this insha’Allah (God willing).
How to make money with The Sandbox
The first thing you need to start making money on The Sandbox platform is to own some of its native cryptocurrency, $SAND.
In the previous post, I mentioned that this is an ERC-20 utility token that is used for all important in-game transactions. These activities can include everything from buying digital objects, participating in challenges to win more $SAND tokens, to creating new objects that you can then sell on the platform’s marketplace.
In addition, $SAND is also essential for you as a player, since if you want new equipment and items for your avatar, you’ll have to pay with $SAND for these. It’s also necessary if you want to play the games created by other users.
Basically, The Sandbox has its own virtual economy developed in its own metaverse and based on its own native cryptocurrency. The best thing is that you can earn money both actively and passively while having fun. A gamer’s dream come true.
Although there are different ways to acquire $SAND within The Sandbox, if you are a new user, it is best to buy some $SAND to start. You can buy this at any reputable exchange, Binance being one of the best options available. Let’s now see the most popular methods to earn money with The Sandbox.
Create and publish games
You have to assume that modern everyday life is not very exciting at times: wake up in the morning, go to work, return home, maybe get some rest on the weekend and repeat the process all over again. Every – day – of – your – life…
But how about becoming a secret spy, a soldier in World War II, or an adventurer in the Amazon jungle?
Well, thanks to the technology developed by the videogame industry and if you are a creative individual with some design skills, you can create adventures that other users can enjoy within The Sandbox.
Thanks to the Sandbox Game Maker design tool, you can create these experiences and publish them in portions of LAND for other users to enjoy by paying a small fee in $SAND tokens, generating passive income for you that will increase as more and more users are part of The Sandbox.
Buy and sell land for a profit
Today, and thanks to the growing interest of investors in the Metaverse, virtual lands can be worth as much as lands in the real world. In fact, parcels of virtual land have been sold for millions of dollars. In The Sandbox, LAND works as an NFT token that can be shaped to offer different virtual experiences to other users, as we saw above.
Based on this, buying portions of LAND and then selling them when they have increased in value, can be a very lucrative business. These operations can be carried out directly through The Sandbox Marketplace or through a third-party NFT exchange. Keep in mind that the price of a portion of LAND may vary depending on a number of factors, such as its size or other additional features.
Rent your LAND
Another good way to earn money if you own one or more portions of LAND, is to rent these virtual spaces to other users who want to create, publish, and monetize games and other similar experiences. Keep in mind, however, that any gaming experience built on your portion of LAND will remain the property of its designer.
Regarding the price you can charge for the rental of your LAND, as I mentioned above, this will depend on several factors, including the size of the virtual land portion, as well as its proximity to other popular communities and gaming experiences within The Sandbox metaverse.
Play to Earn
The Play-to-Earn model is here to stay. Gone is investing time and money in videogames that won’t pay you anything for your hard work and dedication. The Sandbox joins games like Axie Infinity and Decentraland in the Play-to-Earn model to allow its users to earn money in the form of cryptocurrency just by playing and participating in the playful creations of other users.
The best part is that, since these transactions are made through the Ethereum network, people can exchange their earnings for fiat money or other cryptocurrencies with relative ease.
Buy and sell ASSETS in The Marketplace
While you can create ASSETS – the objects used within the game, such as weapons, vehicles, etc. – with the VoxEdit tool and then sell them, an easier way to earn money with them is to buy ASSETS created by other users and then resell them to obtain profits.
Take into account that a single article can belong to several categories, so the possibilities are almost limitless:
- Creative art
- Collectible rarities
- Investment objects
- Commemorative items
- Certifications of participation
- Badges supporting a cause
These are all reasons for people to purchase virtual items with gaming utility.
Uniswap liquidity pools
You can also participate as a liquidity provider in the Uniswap $SAND-ETH pool to generate passive income in the form of $SAND. Additionally, if you own LAND and use yield multipliers, you can increase the amount of $SAND you earn, as well as get rare and exclusive NFTs.
However, when it comes to liquidity pools, you should make sure that the way you are earning money is permissible (halal).
Other alternative ways to earn $SAND and NFT tokens
Here are some alternate ways you can try to give yourself more chances to earn rewards in the form of cryptocurrency tokens.
The Sandbox giveaways
From time to time, the team behind The Sandbox organizes events and giveaways that any member of the community can participate in to win lots of $SAND tokens. These events are usually carried out through official livestreams on networks or on the official website.
You can also earn $SAND tokens and NFTs by participating in contests and competitions run by LAND owners. These owners hold such events as a way to promote their games and activities hosted within their portions of LAND. Keep an eye on social media.
When it comes to earning money through competitions, please be aware that the ulema has guidelines on what types of income are permissible through competition.
I discuss this in the following blog post, Axie Infinity Overview and is Axie Infinity Halal?
If you have a website, YouTube channel, or blog, you can participate in the Ambassador Program to earn rewards by helping to promote the game. The more active you are answering questions, writing great articles, and creating videos, the more likely you are to earn cool rewards.
The Sandbox Marketplace
The Sandbox Marketplace is the portal where users of this great gaming metaverse can buy or sell game objects created by the users themselves, as well as virtual lands in the form of NFTs. This marketplace is a key element that has contributed to further expanding the interest of users and investors in The Sandbox, and it’s a very dynamic and continuously growing component that you’ll have to go through sooner or later, either as a buyer or seller.
In the marketplace, it is possible to buy and sell all kinds of ASSETS in the form of buildings, weapons, characters, vehicles, and other items, as well as GEM tokens. However, it’s also possible to buy or rent portions of LAND directly from the portal.
Bear in mind that this is a free market that works based on supply and demand, so asset prices will change constantly, and all operations are carried out in the native currency $SAND. It is also necessary to have some Ether to pay the Ethereum gas fees in addition to the fee that the marketplace takes, which is 5%, for the amount of each transaction. The fee applies to sellers.
One of the most attractive aspects of this marketplace, especially if you are a 3D artist, is that the 5% fee that is applied to each sale goes directly to a fund that is used to finance the projects of the most talented artists that bring value to the platform.
In general terms, The Sandbox Marketplace is a fairly intuitive and easy-to-use platform, and more and more users are taking their place on it, so the quantity, variety, and quality of assets are guaranteed.
The Sandbox metaverse has its own very well developed digital economy, and it’s just one small example of the direction in which the Metaverse and the digital economy, in general, are heading. It’s no longer simply about playing and exploring, but with the entire ecosystem developed based on blockchain technology and cryptocurrencies, we are seeing a whole new world of opportunities before us.
And the best thing is that anyone who wants to participate can do so without being limited by their geographical location or economic position.
And the best thing is that anyone who wants to participate can do so by complying with the corresponding requirements, without being limited by their geographical location or economic position.
As I said at the beginning, a gamer’s dream come true…
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