Buy The Sandbox in Canada
The Sandbox made simple
Everything you need to know about The Sandbox and how to start investing in it.
+$0.08 (4.88%) past 24 hours
- Market Cap
- 24h low - high range
- 1.45 - 1.67
SAND is the native token of The Sandbox, a virtual reality game in which you can trade, then build on, parcels of land in the metaverse. If you’re wondering what the metaverse is, it’s still an evolving term — and one that many argue rallies existing concepts under a new label — but basically it refers to interconnected online-only worlds.
Propositions for how the metaverse will operate diverge greatly. Meta (formerly Facebook) thinks that it should be the entity around which all metaverse products orbit. The company plans to sink tens of billions of dollars into creating a suite of virtual and augmented reality tools for its metaverse. But the Web 3.0 folks, including those who create and use The Sandbox, are taking a different route. They believe that decentralized technologies, which power cooperatively-owned worlds, are the innovation that distinguishes the metaverse from, say, World of Warcraft, Zoom, or Second Life. In these online worlds, crypto will be the unifying currency. Each project has its own token, which holders can use to vote on the future of the project rather than delegating development choices to huge companies like Meta.
The Sandbox’s graphics may be a far cry from the latest video games, and its online world is rudimentary and sparsely populated, but it is one of the biggest metaverse games out there. The idea is that the world is split up into 166,464 parcels of land, which are represented on blockchains as NFTs. Because no more parcels will be minted, they’ve gotten quite pricey. Anyone can buy “land,” but top brands, like The Smurfs, Care Bears and The Walking Dead have already paid eye watering sums to get there first. Once you own the “land,” you can build whatever you want on it.
Why Wealthsimple Crypto?
Wealthsimple Crypto lets you buy and sell cryptocurrencies all in one easy-to-use app. And as Canada’s first regulated crypto platform, you can trust that your coins are in good hands. How simple is it?
Sign up in minutes right from your phone or laptop
Start trading crypto with as little as $1
No account minimums
No clunky dashboards — just one super simple app
Best of all: you don’t need to be an expert in crypto or blockchain to get started
What can you do with Sandbox?
SAND is the backbone of The Sandbox’s infrastructure. Its main purpose is to use as the primary in-game currency. SAND can buy you everything from furniture in your virtual home to in-game costumes. Celebrities like Snoop Dogg have their own NFT collections, as do brands like Atari, Deadmau5 and Binance. The protocol takes a 5% cut of anything bought on its marketplace. Half of this cut goes to a staking pool while the rest goes into something called creator funds — a pot of money that’s used to provide grants to artists building in-game assets for The Sandbox.
The token is also used for governance, meaning holders can use it to vote on the future of the game’s development, and staking, meaning you can pledge it into The Sandbox’s protocol to earn returns.
Because SAND is an ERC-20 token, it is compatible with any Ethereum-based DeFi protocol, meaning you can use it to offer such services as instantaneous non-custodial lending and borrowing, or on decentralized exchanges and robo-advisors called yield farms.
And of course, some investors treat SAND as speculative asset, buying and selling it in an attempt to profit from price swings. This, and other strategies, can be implemented on Wealthsimple.
Is The Sandbox a smart investment?
Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in The Sandbox or stocks) is: never invest what you can’t afford to lose. The smartest way to grow your money long term is with a diversified, low-cost portfolio that tracks the market.
How we keep your The Sandbox safe
As Canada’s first regulated crypto trading platform, we’re required to meet certain requirements — like using only qualified custodians (like Gemini Trust Company LLC and Coinbase Custody) for cold storage.
FYI: Wealthsimple Crypto is not an exchange itself. Instead, we work with multiple exchanges to give you the best The Sandbox prices.
And to make sure your coins are extra protected, we’ve partnered with Coincover for an extra layer of security.
If you’re holding crypto outside of Wealthsimple, that’s no problem. You can safely transfer your The Sandbox to your Wealthsimple account in just a few taps.
Other cryptos to explore
More info about The Sandbox
Want to take a deeper dive? Check out these articles about The Sandbox and the world of crypto.
What is Cryptocurrency?
Cryptocurrencies are a type of digital asset that run on blockchain technology. Here’s everything you need to know.
Top Cryptocurrencies and Crypto Exchanges
A beginner’s guide to understanding the thousands of cryptocurrencies and dozens of cryptocurrency exchanges
What is Blockchain? The Ultimate Guide
A quick primer on the building blocks needed to understand the basics of blockchain
Ready to get started?
Download the Wealthsimple Trade app, create your account, and start trading The Sandbox with just $1. It’s that simple.
SAND is a token that powers a videogame called The Sandbox. The Sandbox is an online videogame where you can hang out with your friends, meet strangers and build virtual worlds. Think Minecraft meets Second Life, plus cryptocurrencies. This last item, cryptocurrencies, is a major component of The Sandbox. SAND is the game’s in-game currency, and you can also buy parcels of in-game land in the form of NFTs. SAND also functions as the game’s governence token, meaning you can use it to vote on the future of The Sandbox in the game’s decentralized corporate structure. The Sandbox’s main rival is called Decentraland; on that game, the equivalent token is called MANA.
As of January 17, 2022, there are 920,948,319.22 SAND tokens in circulation, or 33% of the game’s maximum supply of 3 billion SAND tokens. Note that SAND tokens are different from the similarly named LAND tokens, which are non-fungible tokens (NFTs) that represent something akin to property rights within The Sandbox’s ecosystem. SAND is also different to in-game assets produced within The Sandbox’s creator economy.
SAND is an ERC-20 token, meaning it’s tradeable within any centralized exchange or Ethereum-based decentralized finance protocol that supports it. By design, however, its purpose is to be used as an in-game currency of a metaverse game called The Sandbox. You can use SAND to buy in-game items, vote on governance proposals for the future of the metaverse game, or stake it to earn rewards. If that’s not for you, you can also trade it as a speculative token, even ‘spending’ it on other tokens you believe will outperform it in the long run.
Yep! When you open a Wealthsimple Crypto account, you can get started with anywhere from $1 to $1,500 instantly.
Generally speaking, the CRA treats cryptocurrencies as a commodity. Here’s what they say:
Any income from transactions involving cryptocurrency is generally treated as business income or as a capital gain, depending on the circumstances. Similarly, if earnings qualify as business income or as a capital gain then any losses are treated as business losses or capital losses.
Always keep solid records of any The Sandbox transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.
The Sandbox’s current market cap is 4,913,172,000.
The current price for The Sandbox in Canadian dollars is $1.63.
Buying The Sandbox with Wealthsimple is, well, simple. The first thing you need to do is open and fund a Crypto account in the Wealthsimple Trade app. You can connect your bank account and add up to $1,500 instantly.
From there, follow these steps: 1. Tap the magnifying glass icon in the top right corner of your screen 2. Type in The Sandbox 3. Tap Buy 4. Enter the dollar value of cryptocurrency you'd like to buy and tap Continue 5. Review the order details and tap Confirm order
You can choose between two different order types when buying The Sandbox. A market order lets you buy or sell crypto immediately at the best available price at the time. A limit order lets you buy or sell crypto at a specific price or better.
You can withdraw funds from the cash balance in your Crypto account and move those funds to your bank account. Withdrawals typically take around 2 - 3 business days.
A crypto wallet — often called a “hot wallet” — is a location for holding crypto “on-chain” (i.e. linked to the blockchain versus off-chain cold storage.) Many users use wallet applications to help them manage their blockchain addresses, since each chain uses its own addresses.