When it comes to physical real estate, the concept of ownership is not so absolute. The land title at city hall may have your name written on it, but if you stop paying your property taxes, you'll soon find out who really owns your property. With the recent application of blockchain technology to gaming, players now have the ability to truly own their items, including parcels of land which make up the entire map of a game.
Blockchain-based games such as Decentraland, Somnium Space, and Axie Infinity have created maps and conducted land sales to distribute parcels to both gamers and investors, who have the option to resell them. The Sandbox is another such game - a digital world in which players own plots of land and build custom games atop them.
There are a total of 166,464 land parcels in the Sandbox, and they are being sold off to gamers and investors in multiple phases.
In order to design these games, the Sandbox has released a piece of software called Voxedit, which gives players the ability to create objects for their games, and also trade them on the marketplace using SAND token.
Similar to the MANA token in Decentraland, and the CUBEs token in Somnium Space, the SAND token will be the medium of exchange for items in the Sandbox metaverse. It is a standard ERC-20 token that was recently launched on Binance.
In order to purchase land in the Sandbox, you will first need an Ethereum wallet such as Metamask.
Then visit OpenSea marketplace, search for "the sandbox", and select it from the list. You will see all the items and parcels of land for sale. You can sort the list by lowest price, in order to pick yourself up something affordable. Currently, the cheapest parcel of land is going for 0.13ETH (approximately $62 USD).
If you want to see where the land is actually located in relation to everything else on the map, check out the official map on the Sandbox's website. You can punch in the coordinates into the URL to zoom into the specific part of the map where the land is located:
The next step is to purchase some ETH, which you can obtain from a variety of cryptocurrency exchanges, including Binance.
You then need to withdraw the ETH from the exchange to your Metamask Ethereum address. Be sure to calculate the amount of ETH required to purchase the land, including gas fees, so that you withdraw a sufficient amount to your wallet.
Click on the parcel you want to buy. At this point, you can either pay the price the owner listed it at, or make an offer:
Click the Buy Now button and Metamask will notify you of the gas fee and ask you to confirm the transaction. After the transaction has been confirmed by the network, you will see that plot of land is now associated with your Metamask Ethereum address.
Congratulations! You have successfully completed your first purchase of digital real estate and are a proud owner of a plot of digital land which nobody can take away from you.
Giving gamers the option to own part of the map increases their engagement and desire to see the game succeed. We have already witnessed a significant rise in value of the land in both Decentraland and Axie Infinity as more players get involved and want to become part owners. As we move into the future, I believe that we will see more games start to adopt this model.