The Sandbox Implements KYC Verification for Staking Processes
The Sandbox, a metaverse platform, has announced that users must undergo Know Your Customer (KYC) verification to participate in staking and claim rewards. Only verified users will be able to deposit the platform's native token, SAND, while non-verified users will only be able to withdraw. The move aims to enhance user security and compliance. The SEC has previously deemed SAND to be a security, and Animoca Brands co-founder Yat Siu has criticized the lack of consistency in SEC regulations.
The Sandbox Announces Maintenance for Improved LAND Bridging Experience
The Sandbox has announced a maintenance period starting from July 31 to enhance the LAND bridging experience. During this time, bridging will be disabled until the end of next week. Further details will be provided once the game is back online. Stay tuned for updates.
Messari: The SandBox's NFT mints and Primary Sales see growth in Q2
The SandBox saw growth in NFT mints and primary sales in Q2 2023, despite a decline in interest in metaverse-based projects and NFTs during the first half of the year. The count of non-LAND buyers, non-LAND minted, and LAND minted increased between April and June, resulting in a 29% growth in LAND primary sales during the quarter. However, secondary sales of NFTs on marketplaces such as OpenSea and LooksRare experienced a dip in Q2, and the project's total revenue suffered a 15% decline quarter-over-quarter.
Snoop Dogg's Virtual Land Prices Plummet in Metaverse's Crypto Winter
Snoop Dogg, a successful rapper and businessman worth $124 million, has invested heavily in the metaverse with projects like the Sandbox. The Sandbox partnered with Snoop in September 2021, giving him his own space in the game called the Snoopverse. However, the prices of virtual property in the Sandbox have plummeted, causing losses for investors, including Snoop himself.
The Sandbox Embraces User-Created Content
The Sandbox is opening up its metaverse to user-created content, allowing anyone to host and run their own experiences by the end of 2023. This marks a significant step towards fulfilling the ultimate goal of granting creative freedom to all land plot owners. Creators can now publish their experiences and create landing pages, with the option to charge an entrance fee or require specific NFT ownership for entry. Additionally, exciting experiences like McNuggets Land offer players the chance to win prizes such as SAND tokens, Mystery Boxes, and even a year's supply of free McNuggets.
UK Treasury Proposes Lighter Regulations for Digital Bonds and Equities Based on DLT Technology
The UK Treasury has proposed a five-year period of lighter regulations for digital bonds and equities, as part of a new "sandbox" for innovative securities based on distributed ledger technology (DLT). The government hopes that this will make markets more efficient, transparent and resilient.
Hashed CEO Offloads $10 Million Of Sandbox
The native token of Sandbox metaverse, SAND, saw a rise in price by over 7% in the past 7 days, while other major metaverse tokens experienced a decline. However, a recent whale transaction by Hashed CEO Simon Kim suggests that SAND may face selling pressure in the future. Kim unstaked $12 million worth of altcoins, including 19.02 million SAND tokens, and moved $10.52 million worth of SAND to Binance.
The Sandbox CEO & Co-Founder Arthur Madrid's Twitter account has been hacked
The Sandbox Warned on Twitter：
Paris Hilton Unleashes Iconic Avatar Collection in The Sandbox on May 31
The Sandbox and 11:11 Media have collaborated to launch a collection of avatars based on Paris Hilton. The collection includes 5,555 unique avatars that will be playable in The Sandbox. The avatars showcase Paris Hilton's iconic fashion sense and will be sold for 100 SAND each on a first-come-first-serve basis. The launch is set for May 31, 2023, and will take place in three waves on The Sandbox's dedicated drop page. Holders of the exclusive NFTs will also receive a free VIP ticket to Paris: Live in Concert on June 7th, 2023.
Gordon Ramsay's Hell's Kitchen Comes to The Metaverse: A Culinary Adventure in Virtual Reality
Attention all food enthusiasts! The Sandbox has teamed up with ITV Studios and Gordon Ramsay's Hell's Kitchen to bring you an exciting metaverse experience. This virtual world will transport you into the heart of Chef Ramsay's famous kitchen where you can take on challenges, win prizes, and even have your dishes reviewed by the legendary chef himself. Join a community of fellow foodies on Discord and compete in culinary competitions for a chance to win one of three HexClad frying pans.
