Sandbox earned $450 million in 5 hours on virtual land presale

Two-thirds of offered virtual space parcels were sold within 30 minutes, the company says.

The online gaming industry has long been called one of the most lucrative industries. With the latest news from Sandbox, it seems it has proved the theory once again.

The Sandbox, a virtual world where players can build, own and earn on the Ethereum blockchain, reported recently that the presale offering of its unique virtual land parcels was completely sold out within 5 hours.

The presale generated a total amount of 3,400 Ethereum (ETH) equivalent to more than $450 thousand of US dollars. Furthermore, two-thirds of all virtual spaces on the game were sold within 30 minutes, says the official blog post.

Sponsored

The third LAND presale opened on Tuesday and offered 12,384 LANDs, representing 10% of total parcels available for sale on The Sandbox map. The LAND is a virtual space upon which Sandbox players can create their worlds.

The company says, this time the sold-out came quicker than in previous presales last February and December. The developers of the Sandbox gaming platform believe the fact confirms strong interest from the gamer community. According to them:

The decentralized gaming platform will empower creators through the use of blockchain technology and non-fungible tokens.

In partnership with Atari

The Sandbox is one of the world’s largest independent user-generated content and gaming platforms, with 40 million downloads and over one million monthly active users.

Its players can purchase, use and resell digital assets in the form of non-fungible tokens (NFT). Such tokens correspond to virtual spaces, various characters, buildings, and other tools used within the game.

Furthermore, the company seems to have more important news lately. Animoca Brands, the developer of Sandbox, announced last week the partnership with one of the most iconic gaming company Atari. It is expected, the collaboration will offer a variety of virtual worlds built on crypto assets and blockchain technology.

Sponsored

The Sandbox also planning a virtual theme park-like universe featuring a variety of Atari game titles, which will be a large virtual area with Atari-themed creations, attractions, games, and buildings.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia