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Decentraland vs. The Sandbox Metaverse • Benzinga Crypto

Decentraland vs. The Sandbox Metaverse • Benzinga Crypto
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The term “metaverse” was first used in 1992 by author Neal Stephenson in his science fiction novel. snow crash. In his novel, Stevenson has forged a world in which photorealistic avatars meet in realistic 3D virtual reality environments.

Metaverse has now become a reality. It is a shared digital reality where digital representations of people can interact with each other. Decentraland and Sandbox both offer versions of the metaverse. But what’s the difference? Learn more now with the Benzinga guide.

It is difficult to provide a concrete definition of “metaverse” given its early development and assumption. It is possible that trying to define the metaverse in 2022 will be similar to trying to define the Internet in the 1980s. A new form of communication is being built, but no one is really sure what this technology will look like in the future.

It is important to note that there will not be only one metaverse. There will be many metaverses serving many different functions. Some of these jobs can include games, business, education, and more.

In addition, there are many different companies interested in building metaverses. Currently, the best known may be the tech giant formerly known as Facebook, which chose to rename its company Meta in October 2021.

Roblox could be a current and self-evident example of the metaverse. Roblox is a gaming platform and game creation system that allows players to play games and create games for others to do. The platform claims to have 47 million daily users and more than half of American children use the platform.

Decentraland and Sandbox are yet another example of current day metaverses. Unlike Roblox, both are fully decentralized metaverses. This means that there is no central controlling entity governing the platforms. Both virtual worlds are built on top of the Ethereum blockchain.

The code behind the platforms does not run on central servers controlled by a single entity. Both systems plan to manage themselves through the use of decentralized autonomous organizations, or DAOs. The Decentraland platform is governed by its users through the Decentraland DAO. Users who own the cryptocurrency MANA or NFTs may choose to vote on the proposed changes to the platform.

Sandbox does not currently have a DAO and is operated by a central entity at this time. However, it plans to launch a DAO in the near future, where the SAND cryptocurrency will serve as a governance token.

Decentraland vs Sandbox: What’s the difference?

Decentraland has 90601 plots of land. These plots are grouped into individual plots, estates (multiple plots), counties (similarly themed plots) and yards (non-negotiable community-owned parcels). Decentraland has three types of tokens: MANA, WEAR, and LAND.

The Sandbox contains 166,464 plots of land and can be grouped into real estate (owned by one person) or territories (owned by two or more people). The Sandbox contains four types of tokens: sand, asset, game, and land.

One of the main differences between the two platforms is age. Decentraland is the older of the two and was a pioneer in the 3D Blockchain Metaverse. He was the first to create a working proof of concept and currently has a publicly available game. Sandbox only has an Alpha version that is publicly available.

Decentraland is currently powered by DAO, while Sandbox is not. The interesting thing to note is that Sandbox apparently has a much more detailed and concrete plan for the future than its rival Decentraland. This may be a benefit of being managed by a central authority with experience in the game industry rather than the DAO.

Sandbox currently has better graphics than Decentraland. However, users have to download the windows app to access the Sandbox. Decentraland also allows peer-to-peer connections without any means for a central server to hear what you’re talking about.

History of Decentraland and Sandbox

The Decentraland Foundation was founded by Esteban Ordano and Ariel Meilich in 2015. The Decentraland Foundation is the organization behind the development of the Decentraland programme.

Decentraland owns and maintains the intellectual property rights to the Decentraland website. The team held an initial coin offering (ICO) in 2017 and raised 86206 Eth (around $26 million at the time) to fund decentralization development. Decentrand was released to the public in January 2020.

Sandbox was originally a mobile game released on May 15, 2012. This mobile game is developed by gamestudio Pixowl. The 2012 mobile game was called The Sandbox because it provided users with tools to create their own non-linear gameplay, known as sandbox.

The Sandbox brand was acquired by Animoca Brand in 2018. Animoca Brands then began developing the 3D-blockchain metaverse we know today, using the same branding as the previous mobile game.

In 2019, The Sandbox raised $2.01 million in cash and crypto to fund the development of The Sandbox. In November 2021, SoftBank led another $93 million investment in The Sandbox.

The Sandbox has not been fully released to the public yet. However, the alpha version of The Sandbox Metaverse was released to the public on November 29, 2021. The original mobile game of The Sandbox is still available as The Sandbox Evolution.

Sandbox vs Decentraland Backing

Decentraland is supported by many well known and respected companies. These companies include the likes of FBG Capital, CoinFund, and Digital Currency Group. Furthermore, Decentraland has partnered with Cyberpunk, Polygon, Samsung and the South Korean government.

SoftBank is one of the biggest supporters of Sandbox. SoftBank is a Japanese multinational holding company headquartered in Minato, Tokyo and focused on investment management. Softbank invests primarily in companies operating in the technology, energy and financial sectors. Softbank is one of the largest investment companies in the world and has been supportive of many other companies such as Uber, WeWork and Slack.

Where to buy SAND and MANA coins

Cryptocurrencies play an important role in both Decentralad and Sandbox. They are the fuel for these metaverse economies.

Visitors to these metaverses may use their cryptocurrency to purchase different items, services, or experiences. These items can include virtual lands, wearable devices, and unique names.

Buying experiences can range from buying tickets to a live concert, paying entrance fees to an art museum, going on a hot air balloon ride, or even trying your luck at a casino. You can also choose to trade items in Bartertown in Decentraland, buy digital art, or go learn at the University of Decentraland. All of these activities require cryptocurrencies to participate.

You can easily buy MANA using centralized exchanges such as Coinbase, eToro, and Gemini. If you are looking to buy a SAND, the best place to do so is the Gemini website. This is because SAND is not currently available for purchase with Coinbase.

You can also buy MANA and SAND using many popular decentralized exchanges. Both the MANA token and the SAND token are Ethereum ERC-20 tokens. You can easily exchange these tokens on decentralized exchanges using Eth or other popular ERC-20 tokens. Some of the popular decentralized exchanges for these tokens include Uniswap, Metamask Swap, and Sushiswap.

1 minute review

Gemini is a cryptocurrency exchange and custodian that gives investors access to 26 coins and tokens. Founded in the United States, Gemini is expanding globally, particularly in Europe and Asia. Offers include both major cryptocurrency projects such as Bitcoin and Ethereum, and smaller altcoins such as Orchid and 0x.

Gemini is one of the only brokers with multiple platform options based on skill level. New investors will love the simplified interface of Gemini’s mobile and web applications, while advanced investors may appreciate all the tools that come with ActiveTrader.

In addition to a host of platform options, Gemini users can also access secure hot wallets to store tokens without worrying about digital asset theft. Learn more about what Gemini can do for you in our review.

best for

  • New investors looking for a simple mobile and web application
  • Seasoned investors who need a more advanced platform with more tools
  • Users who are looking for a one-stop shop to buy, sell and store all their coins
Positives

  • Quick and easy registrations – can be started in less than a few minutes
  • Several platforms to accommodate traders of all skill levels
  • Hot wallets include insurance to protect you from theft and hacking attempts
Negatives

  • It charges convenient commission and fees for users who buy and sell through desktop or mobile app

1 minute review

Coinbase is one of the largest cryptocurrency trading platforms on the internet. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it incredibly easy to buy and sell major cryptocurrency pairs.

You can even earn cryptocurrency rewards with Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and improved functionality.

Although Coinbase does not offer the most affordable rates or the lowest fees, its simple platform is easy enough for complete beginners to master in just one transaction.

best for

  • New Cryptocurrency Traders
  • Cryptocurrency traders are interested in major pairs
  • Cryptocurrency traders are interested in a simple platform
Positives

  • Simple platform easy to operate
  • The comprehensive mobile application reflects desktop functionality
  • The Coinbase Earn feature rewards you with cryptocurrency for finding available coins
Negatives

  • Higher fees than competitors

start

securely through the eToro website

disclosure: eToro USA LLC; Investments are subject to market risk, including the possibility of losing capital.

1 minute review

Headquartered in Cyprus, England and Israel, eToro has been offering forex products and other CFD derivatives to retail clients since 2007. One of the main eToro plus social trading operations, including OpenBook, allows new clients to copy the trading of the best performance for the platform. Its social trading features are top notch, but eToro is losing points for its lack of tradable currency pairs, disappointing research, and customer service features.

best for

  • Cryptocurrency traders in the United States
  • Social Traders and Transcripts
  • Simple user interface
  • Community participation and follow other traders
Positives

  • 25 cryptocurrency
  • Wide network of social trading features
  • Large customer base for new traders to imitate
Negatives

  • US Traders Can Only Buy Cryptocurrencies

Other decentralized metaphors to watch are Somnium Space and Enjin. Somnium Space is a virtual reality world built on the Ethereum blockchain. It is similar to Decentraland and The Sandbox in the sense that it also allows users to purchase digital land, items, and services. Somnium Space is an open source platform.

The Enjin Network is an interconnected ecosystem of blockchain-powered gaming. Facebook, or now Meta, is also busy building the metaverse. However, this metaverse will most likely not be a decentralized, but rather a centralized world like Roblox.

Which is better?

It’s hard to say which of the decentralized is the best” at the moment. The Sandbox is still in Alpha mode and has not been battle tested like Decentraland. The Sandbox has better graphics and runs much smoother than Decentraland, and the Sandbox is much more centralized than Decentraland at the moment.

Having a metaverse built on top of Ethereum with large amounts of centralization kills the benefits and purpose of building on the Ethereum blockchain. Many blockchain projects are still starting to be centralized and decentralized over time, something The Sandbox claims it would like to do in the future.

Benzinga has developed a specific methodology for classifying cryptocurrency exchange instruments. We prioritize platforms based on offers, pricing, promotions, customer service, mobile applications, user experience, benefits and security. For a comprehensive analysis of our methodology, please visit our cryptocurrency methodology page.

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