Phemex, one the most efficient and complete platforms for trading crypto online, with more than 2 million users, is taking another bold move to improve its platform.
SAND is the native ERC-20 token for Sandbox. A virtual gaming system that allows players to create and own their unique NFTs on the Ethereum blockchain. In Sandbox, players can create their own world using three types of tokens to trade, stake and govern; ASSETS, LAND and SAND. Now, Phemex clients can trade SAND just like any other product on the platform. Furthermore, Phemex is hosting a special Metaverse edition of their popular Grab a Coin Campaign where users can join to win SAND.
The SAND Token Now on Phemex
With a current circulating supply of 708 million, SAND is destined to play in the major leagues, and become the new trend on the Sandbox Marketplace. Arthur Madrid, Sandbox´s CEO and Co-founder said,
“The idea of blockchain in the metaverse is to build a new kind of digital asset based on ownership and governance…“Sandbox offers everyone access to a new economic model where players and creators fully participate in the value creation chain, and can benefit from the new paradigm where content is the platform.”
SAND reached its pre-Metaverse merger highest score in March 2021, when it hit $0.857.
With regards to the token distribution, 26% of that 3,000 million total SAND supply is saved by Pixowl in a company reserve, 31% distributed among team members and founders, 10% given to advisors as rewards, 12% set aside for a Binance Launchpad Sale, and the remaining 4% was invested on strategic sales.
Another Hot Token Hits Phemex
Elon Musk’s tweets and China’s banning of bitcoin mining were minor setbacks for the token, which soon recovered vigorously.
Available on Kucoin, Crypto.com, Gemini, Uniswap, LCX and many others, SAND is already rated among the most solid tokens in the market.Meanwhile Sandbox, with 84,000 current users, is expected to continuously grow in the future.
The blockchain based game aims to attract both crypto and gaming fans with its player-owned NFTs concept, and the possibility of trading within the game, and out, with other platforms as well.
Joining the Metaverse
The virtual world of SAND has already successfully merged with the exciting Metaverse ecosystem created by Mark Zuckemberg.
But Phemex is going to push this linkage even further. This is because Phemex strongly believes in the future opportunities that will soon come with the Metaverse, GameFi tokens, etc.
Sandbox’s SAND along with Decentraland’s MANA felt the value rush that bonding with the Metaverse brought in November 2021 when Zuckerberg announced that Facebook was rebranded as Meta.
That’s when the Metaverse came to life in the public imagination.
SAND in particular, jumped from $1.55 to $6.79, a leap of about 350%. That same month, the Barbados Republic’s Foreign Affairs Office surprised the world by announcing the opening of a virtual embassy on the new digital ecosystem.
Crypto traders, digital real estate agents, and even Wall Street analysts are all excited about this new play-to-earn model.
Morgan Stanley wrote in a November report that the Metaverse “can fundamentally change the medium through which we socialize with others, watch music performances, engage with fashion brands, learn and/or speculate on digital assets such as NFTs or in-game skins.”
Another Great Addition by Phemex
Things are changing fast and, a good eye on the possible outcomes, give the upper hand to the wise. That’s why Phemex is betting strongly on this play-to-earn model that is flooding the market. The addition of SAND by Phemex is a good move. Essentially, the Metaverse will allow players and developers to expand their games and projects to unimaginable extents. This is always good news to the witty and creative, stay up to date to learn more about all the tokens that Phemex offers its clients.