The Tie Research
Metaverse Mania: An Overview of Decentraland and Sandbox
By Kamran Rawji
April 18, 2023
- Items & Assets are tokenized using the ERC-721 & 1155 standards
- Ownership, Scarcity and other information is stored within the Metadata of the token
- This helps to keep public records of trading, supply, activity etc as well as limit fraud/counterfeit items as they can be verified against the original minting contract
- Users of the platform who either create or purchase items have full ownership rights
- Players can choose to maintain full custody or give custody to the platform (depending on platform capabilities) meaning you are responsible for your own assets
- By users maintaining custody of their own assets, they are able to remove a centralized party or middleman which can significantly reduce fees and security risks
- Whether the game developers still support the game or not, since you have custody of your items you may use may continue to use the items or sell them how you wish
- This provides the ability for players to use assets, avatars & other items in multiple games and/or ecosystems
- This can be done by using the same item across games or having different interpretations of the same asset across different different platforms, the possibilities are endless
- Rather than closed ecosystems with only primary issuance markets providing revenue for big companies, developers can give revenue earned back to the content creators
- Users have the final say in what happens with their assets, they can be sold, gifted, traded etc.
- Providing the secondary market infrastructure helps reduce scamming and nefarious activity as well as ensure creators get a royalty on secondary market sales
- Users who create value for ecosystems will be able to reap these benefits in a monetary way
- Voxel Editor (‘VoxEdit’) - As described by Sandbox, ‘This simple to use yet powerful free 3D voxel modelling package allows users to create and animate 3D objects such as people, animals, foliage, and tools, and export them into The Sandbox marketplace to become game ASSETS.’
- A Marketplace - Is a web based marketplace that allows users to publish their work in both ERC 721 & 1155 formats to sell/trade the ASSETS they create with VoxEditor
- The Game/Metaverse - This part of the ecosystem is where it all comes together. Using the ASSETS created in VoxEdit or purchased on the open marketplace, users can then build out their own experiences and games within parcels of LAND. Each parcel’s ASSETS can be filled with complex gameplay mechanics made possible by the game editor creating more than just a static visual experience.Together, these parcels of LAND & unique gameplay experiences created within make up the Sandbox metaverse.
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