The Sandbox Unlocks 332 Million Tokens Worth $133 Mln

The Sandbox, a renowned Metaverse platform, has recently revealed that a whopping 332 million tokens (SAND) have been unlocked. This accounts for approximately 16% of the current circulating supply of this digital asset.

At the time of the unlock, the total value of these tokens equated to an impressive $133 million, Cointelegraph reported.

As per the vesting schedule tracker Token Unlocks, the total 332.3 million unlocked token includes 71 million tokens for the team, 37.5 million for the advisers, 96.8 million for the company reserve, 24 million for the strategic sale buyers, and nearly 103 million tokens for the seed sale participants. These token holders are now entitled to trade their tokens freely on the open market.

The SAND token was valued at approximately $0.45 in the mid of July. However, since then, its price has declined to $0.39 as of the time of writing.

The upcoming release of SAND tokens is slated for February 14, 2024. At that point, approximately 205 million tokens will have been thawed out and designated to the team, company reserve, and advisors.

In July, The Sandbox partnered with the British Museum to launch new immersive experiences in the metaverse through which users can explore the museum’s unique collections in the virtual space to let them learn about the history from their homes.

Earlier this month, The Sandbox introduced the King of Rock ‘n’ Roll, Elvis Presley, into the metaverse by launching a total of 3000 avatars, featuring outfits and hairstyles from different stages of Presley’s career.

These NFT-based avatars will be minted on Polygon and fully playable in all future The Sandbox multiplayer experiences, allowing fans to step into the metaverse as the iconic performer. Furthermore, the avatars will unlock upcoming features and content.