Animoca Brands positions itself for lucrative returns amid a surge in pre-sale demand for The Sandbox blockchain platform
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Special Report: The strong sales are further evidence of pent-up demand for innovative blockchain gaming platforms, where Animoca Brands has already established itself as a market leader.
As gamers worldwide increasingly adopt blockchain technology to enhance their gaming experience, Animoca Brands (ASX:AB1) has stayed focused on its strategy to build market share in the space.
And if its latest sales update is anything to go by, those efforts are beginning to pay dividends.
One of the company’s leading product offerings is the blockchain-based version of The Sandbox – a popular game franchise (over 40m downloads worldwide) that allows users to create their own lived environment from scratch.
The company this week announced results from the second presale round of LAND parcels – vehicles that allow gamers to take an ownership stake in The Sandbox universe via digital assets which are recorded on a public blockchain.
A total of 6,192 LAND parcels were made available, and after 24 hours the offer had almost sold out. That followed a December 2019 land offer for 3,000 parcels that sold out in four hours.
The second presale generated sales equal to 800 ETH (Ethereum) tokens, which at current markets prices equates to around $300,000 of revenue.
Together, the two presale parcels represent around 5.5 percent of LANDs in The Sandbox universe, each with “scarcity and uniqueness verifiable through blockchain technology”.
Each LAND parcel makes up an individual block in a virtual map that individual players can buy and own. With The Sandbox universe, estates can vary in size and strategic positioning, creating more value that can then be rented to other players or shared for a more collaborative gaming experience.
The value of each parcel is tokenised as a ERC-721 non-fungible token on the Ethereum blockchain, providing a simple transparent mechanism to track uniqueness and establish true digital ownership.
For Sebastien Borget, cofounder of The Sandbox, the demand is proof of “growing interest from creators and gamers in the benefits of true digital ownership, that will allow them to monetize their future creations within an open economy”.
The Sandbox has partnered with key players in gaming and technology, including award-winning mobile game studio Old Skull Games and global tech brands such as Opera.
Based on early demand, Animoca Brands has positioned itself for potentially lucrative returns as The Sandbox’s 40 million-strong global user base is given the opportunity to take an ownership stake in their own digital assets.