Japan has strict regulations on cryptocurrencies and Non-Fungible Tokens (NFTs). They approve only 20 cryptocurrency tokens and list them. The strict rules made it extremely difficult for many of Sandbox’s Japanese members. They found it hard to engage in a few aspects of our metaverse—notably the acquisition of SAND tokens, the metaverse’s utility — and governance tokens.
What is The Sandbox?
The Sandbox is a virtual environment on the Ethereum blockchain where gamers can create, control, and sell their gaming experiences using the platform’s utility token SAND. Non-Fungible Tokens (NFTs) are digital assets that players may develop, submit to the marketplace, and incorporate into games using Game Maker.
What is SAND?
SAND is the main utility token of The Sandbox ecosystem. Gamers use SAND as the basis for transactions and interactions. It is an ERC-20 utility token on the Ethereum blockchain. There is a finite supply of 3,000,000,000 SAND.
The Sandbox Japan
The Sandbox Japan has been working relentlessly to make The Sandbox far more accessible to our Japanese members. It took about one year and nine months to have SAND certified and listed in Japan.
The time in getting SAND approved in Japan did not shake the team’s determination. The whole team was always confident that we would get the approval. We were willing to go to any length for our Japanese players and the many amazing Japan-based artists in The Sandbox’s community and Creator Fund.
Our worldwide staff at The Sandbox is ecstatic about this victorious, pioneering, and ground-breaking news.
SAND Listing
The Sandbox is glad to announce the SAND token listing. SAND is now accessible in Japan through Coincheck, as of May 24, 2022. This made the SAND token the first metaverse coin that Japanese residents may acquire. Coincheck makes the SAND token available to Japanese people.
About Coincheck
Coincheck is a Tokyo-based cryptocurrency wallet and exchange founded by Koichiro Wada and Yusuke Otsuka. It is a cryptocurrency exchange that trades Bitcoin, Ethereum, and fiat currencies. According to Coincheck’s press release, ten Japanese residents who purchase 50,000 Yen or more of crypto assets on Coincheck will be entered into a lottery to win 100,000 Yen.
Also Read: NFT Marketplace: A Brief Overview
