The world is moving to a virtual, digital reality. The virtual realm presents more opportunities for businesses, content creators, and users to earn, interact, and engage in ways that weren’t possible before. This need to explore a virtual reality led to the development of a metaverse. Lets explore the differents between two major players, Decentraland vs Sandbox.
A metaverse virtual reality platform allows users to interact, build, and engage in 3D environments. In the metaverse, users live, trade, and interact in a digital, virtual world like they would in the real world. Different metaverse platforms have been developed to cater to users’ diverse needs and preferences.
However, two metaverse platforms that have stood out from from from from the rest are Decentraland and Sandbox. This article will discuss Decentraland vs. Sandbox, comparing the two platforms and highlighting their differences.
What Is Decentraland?
Decentraland is a virtual reality platform built on blockchain technology. Users on Decentraland can build, own, and monetize their 3D content within the Decentraland world. Decentraland offers users a variety of tools and features, including an intuitive user interface, custom avatars, and peer-to-peer connections.
The Decentraland foundation, the parent company of Decentraland, was founded by Ari Meilich and Esteban Ordino in 2015. Decentraland launched its initial coin offering (ICO) in August 2017, raising USD 26 million. Since then, Decentraland has continued to grow and expand, with communities forming worldwide. Today, Decentraland is considered one of the top metaverse platforms and is known for its user-friendly tools and features.
Decentraland has about 90,601 parcels of land distributed across the virtual space. Users can build and monetize their content within the universe through the Decentraland marketplace. In addition, Decentraland also allows users to host virtual events within the virtual space and engage in other activities like shopping, gaming, socializing, or traveling around Decentraland.
Currently, a parcel of land or Decentraland trades at about 4000 MANA. In 2021, the price soared to about $3000. It has presently dropped due to the bearish trend in the crypto market.
Who Backs Decentraland
As an established and successful metaverse platform, Decentraland is backed by some of the most reputable investors and other big names in blockchain and virtual reality. Some companies supporting Decentraland include FBG Capital, Digital Currency Group, Samsung, the Government of South Korea, Polygon, and Cyberpunk.
What Is Sandbox?
How Does Decentraland Work?
Decentraland is built on an Ethereum-based blockchain and uses an ERC20 token standard called MANA (the Decentraland token) to store ownership information. Decentraland is unique because users can create, own, and monetize virtual reality creations using Decentraland’s powerful tools.
Besides MANA, Decentraland also has another native token called Decentraland LAND. Here is how the tickets work:
- MANA: Decentraland’s native token is called MANA. The token is governance-based, meaning that Decentraland users can use MANA to purchase virtual LAND and interact with other Decentraland content. Decentraland also uses the token for voting, governance, and keeping track of user ownership information.
- LAND: Decentraland’s second native token is called LAND. It is a non-fungible ERC721 token that Decentraland users can purchase and use to build their virtual reality creations. Decentraland LAND is unique because it can generate passive income through Decentraland’s marketplace, allowing users to monetize their content easily. LAND also contains the coordinates of Decentraland parcels, which determine where users can build and create within Decentraland. Decentraland LAND also can be transferred, sold, and traded.
The parcels of land in Decentraland are non-fungible. Therefore, when you purchase a piece of land, you can keep it to yourself or sell it to someone else on Decentraland’s marketplace.
To use Decentraland and its powerful tools, users must first purchase the Decentraland MANA token.
In terms of Decentraland’s performance, Decentraland’s market cap currently sits at around $748,421,263, with a circulating supply of 1.86 billion MANA. Decentraland’s price is now hovering at around $0.40 per token.
Based on the current market capitalization, MANA currently ranks at position #56 in the crypto market. This is a big performance considering that the metaverse is only starting to develop, and Decentraland has only existed for a few years.
However, Decentraland also faces some challenges as the market is still new, and Decentraland must compete with other virtual reality platforms like Sandbox.
Decentraland Price Predictions
The price of MANA had had an upward trend since it was first launched before it finally dropped when the crypto market crashed at the beginning of 2022. When MANA was first listed, it traded for under $0.002 in the last quarter of 2017.
During the first quarter of 2021, the crypto market was positive, which saw MANA trade at about $1.55. However, around June 2021, the bearish trend saw it crush to about $0.98 before soaring again in the last quarter to $4.69 and closing at $2.89 at the end of October. In November, it peaked at $5.90 and closed the year at $3.27.
However, the recent crash in the crypto market has seen Decentraland drop to $0.41 today. But the fall indicated a good time for investors to accumulate Decentraland coins, and the price is expected to pick up in 2022.
Some analysts predict that Decentraland could trade at an average of $0.99 in 2023 before breaking the $1 in 2024. By the end of 2025, MANA is expected to get to $1.70 or break the $2 mark. In 2030, MANA is expected to trade at over $5.50.
What Is SandboxSandbox?
Sandbox is a virtual reality platform that allows users to create and share their virtual worlds. Like Decentraland, Sandbox uses cryptocurrency tokens for governance and content ownership.
However, Sandbox takes a more gamified approach, allowing users to earn rewards through in-game activities like mining or building.
The Sandbox was created in 2018 after Animoca, a game development company, had acquired it. Animoca worked to create a 3D version of the Sandbox which eventually led to the current Metaverse platform. In 2019, the first plot of land was up for presale, and it has since gained a massive following in the crypto market.
The Sandbox metaverse is built on the Ethereum blockchain, which gives it many of the same advantages and challenges as Decentraland. Users must purchase Sandbox tokens to participate in the platform, and a limited number of tokens can be issued. There are more than 166,464 parcels of land in the Sandbox metaverse, significantly more than Decentraland’s 90 601 parcels. The floor price of the parcels of land is about 2 Ethereum.
Who Backs Sandbox
Sandbox has also received significant backing from industry leaders, including HBSC, SoftBank, and lifestyle company Playboy. In addition, the Sandbox platform has been endorsed by many prominent crypto and gaming influencers, who have helped to drive adoption and popularity within the metaverse community.
How Sandbox Works
Like Decentraland, the Sandbox platform allows users to purchase land parcels and create virtual worlds. Users can customize their lands with various content, from 3D graphics to music and video.
Sandbox focuses on providing its users with tools that make it easy to create and share content in the metaverse. Some of the tools used include:
- Game Maker: A drag-and-drop development tool that makes it easy for non-technical users to create games.
- Vox Edit: A modifying tool that allows users to change 3D models without using complicated 3D design software. Users can create, design, animate, and mint voxel creations as NFTS.
- Avatar: Sandbox allows users to create custom avatars that can be used as their virtual 3D representation within the platform.
Sandbox uses different tokens for different purposes on the platform. Some of the tokens include:
- SAND: This is the official currency of Sandbox, and it can only be used within the platform. SAND offers several financial benefits, such as allowing users to transfer assets without paying fees or providing access to premium content and avatars.
- LAND: This map token gives users access to and ownership of parcels of land within Sandbox.
- ASSET: This token can represent one or more assets and allows these assets to be bought, sold, or traded on the platform.
- GAME: This represents a game within the platform and allows users to share these games with other users.
- GEMS: GEMS are utility tokens used to boost the value of Assets. They are burnt on usage and can be crucial in games as they give up to 25 attributes.
Price Of Sandbox (SAND)
Sandbox (SAND) prices are currently trading at $0.59 per token, slightly higher than the price of MANA at the time of writing (Dec 1st, 2022). The metaverse has a market cap of $876,224,504 and a circulating supply of 1.50B SAND, which is significantly lower than Decentraland’s (MANA) current supply of 1.86 billion tokens.
The current CoinMarketCap ranking of SAND is at position #48, which makes it among the best metaverse coins to invest in.
Sandbox (SAND) Price Prediction
Based on the current market trends, it is likely that the price of Sandbox (SAND) will continue to rise in the near future. Some potential catalysts for this growth include:
- The growing popularity of sandbox metaverse platforms among crypto and gaming enthusiasts.
- The company focuses on attracting high-profile investors and influencers to the platform, which should help drive user growth and adoption.
- The gradual acceptance of blockchain technology within the gaming industry will create new opportunities for sandbox metaverse platforms like Decentraland and Sandbox.
Given all of these factors, it is likely that SAND will see a significant price increase. When SAND was first listed, it traded at $0.04 to $0.06. In November 2021, it hit an all-time at $8.40. It closed the year trading at an average of $5.50 and is currently trading at $0.59.
If these trends continue, SAND will likely hit a price of $0.6 by the end of 2022, with continued growth beyond that point in the long term.
In 2023, SAND is expected to hit $0.86 and peak at around $1.40. By 2024, SAND is likely to trade between $1.24 to $1.50 and at an average price of 1.30. In 2025, the price is expected to hit a maximum of $2.20 and a floor price of $1.89. By 2020, SAND will be trading for at least $12.48.
Decentraland Vs. Sandbox Comparisons
After looking at the two top metaverse platforms, Decentraland vs. Sandbox, it is clear that both platforms have their unique strengths and weaknesses.
Decentraland’s transaction fees are much lower than those of Sandbox. Decentraland charges an average fee of roughly 2.5% MANA per transaction, which goes to the Decentralized Autonomous Organization that governs its metaverse. Sandbox charges a 5% fee of the total transaction fees.
Sandbox has a robust gaming experience due to the inclusion of sandbox game zones that allow users to create and share their games. Sandbox was initially designed for a gaming experience; hence it has focused on it. Decentraland, on the other hand, focuses more on providing users with a fully immersive virtual experience by allowing them to explore custom scenes created by others and interact in new ways.
Sandbox offers far more plot numbers than Decentraland, a significant advantage for those looking for the best virtual reality experience. Sandbox has 166,464 land plots, while Decentraland has only 90,601.
Decentraland is known for hosting more events than Sandbox. Decentraland hosts more possibilities as it allows users to create their own spaces for events and meetups, whereas Sandbox has less of an emphasis on hosting events.
However, Sandbox is planning to introduce virtual concert and event zones that will allow for more robust and immersive events.
How To Choose The Best Metaverse For You
When choosing a metaverse platform, it is important to consider your interests and goals. Some factors to consider include the following:
- Token price: Decentraland’s MANA token has seen significant gains in price over the past year, making it a good option for those looking to invest. SAND has also shown significant price trends; they cost less than $1, making them affordable.
- Cost of land: Decentraland’s land costs between $3000 depending on the quality, size, and location. On Sandbox, the land can cost between $2000 to $2500.
- Earning potential: Decentraland is known for hosting events and has a robust economy with Decentraland LAND auctions. On Sandbox, users can create their mini-games through its sandbox game zones, allowing users to share their creations with others. Both have great earning potential.
In conclusion, Decentraland and Sandbox are great options for those looking to experience a virtual reality platform. Decentraland offers an immersive and interactive VR experience, while Sandbox focuses more on gaming experiences. Decentraland’s fee structure is also more favorable than that of Sandbox, making ownership less expensive.