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Bitcoin : The Sandbox prepares its sale (IEO) of tokens on Binance

On August 13, the virtual world The Sandbox will sell utility tokens, an IEO, on the Binance Launchpad platform for three million dollars. SAND allows players and creators to acquire other digital assets, including NFTs.

Gaming in a decentralized environment is a growing trend. The Sandbox is undoubtedly a successful ecosystem in this market, as evidenced by the financial results of recent months from its publisher.

The multiplayer game is now preparing to launch its IEOs or Initial Exchange Offering with Binance. It is indeed a fundraising carried out through a market place. And this should allow The Sandbox to collect three million dollars.

The operation is scheduled for August 13 on Binance Launchpad, partner for the third time this year of an Initial Exchange Offering. For buyers, the publisher’s IEO will therefore be the opportunity to acquire SAND tokens.

The SAND, a central utility token in The Sandbox

The SAND is the main utility token of The Sandbox ecosystem. Its function is therefore utilitarian since it allows access to the services and products available on the platform. This ERC-20 token, the Ethereum standard, is intended for players, developers and publishers.

It allows these players to buy, sell and monetize their assets in the decentralized ecosystem. Concretely, the SAND intervenes for the acquisition of other assets, non-fungible tokens, which are LANDS and ASSETS.

Owning a utility token also opens up access to rewards for creators and owners of virtual territories such as LANDS. Finally, owning such a token means intervening in the governance of the platform.

Binance, IEO host and investor

LANDS owners and game creators should therefore be the first to be interested in this sale on Binance. The Sandbox has indeed already organized several presales of such tokens. The fourth transaction of this type is also in progress.

As for the participation of the trading platform, it is not by chance. The company is also among the investors of The Sandbox. She thus ensures that her investment will grow.

“We are delighted to welcome The Sandbox to the Binance ecosystem. We hope that together we will be able to diffuse the power of blockchain as a cutting edge technology in the gaming industry, ”reacts its CEO, Changpeng Zhao.

The latest financial indicators are in any case encouraging. The Covid-19 is indeed far from hindering the activity of the game publisher. During the first four months of the year, that is in part during the confinement, the company carried out sales of $ 7.34 million.

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