Now that Facebook has viralized the term “Metaverse,” it seems everyone wants to get into a metaverse. And this has benefited the crypto metaverse platforms, especially the leading ones like Decentraland and The Sandbox. Look at Decentraland, its native token $MANA, which has rallied more than 400% since October 28th. Now, look at $SAND, The Sandbox native token, which has rallied more than 370% since the same date.
But, analyzing just the token growth is not enough to know which platform has the best potential in terms of being a leader in the Metaverse space. Therefore, in this article, you will discover the Top Metaverse Project that you must fully understand. Let’s start analyzing Decentraland.
Decentraland and The Sandbox Wallet Compatibility
Decentraland is a virtual reality platform powered by the Ethereum blockchain. Users can create, experience, and monetize content and applications. Decentraland’s native token, $LAND, is permanently owned by the community, giving them complete control over their creations.
On the other hand, The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences in the Ethereum blockchain using $SAND, the platform’s utility token.
This platform aims to create an immersive metaverse where players will develop virtual worlds and games collaboratively and without a central authority.
Also, the $MANA and $SAND tokens have the ERC-20 standard. This means that you can use any ERC-20 wallet in the market for both projects. The most common ones are MyEtherWallet, MetaMask, and Trust Wallet. However, Decentraland has recently made a bridge with walletconnect, which allows Polygon users to participate too.
Therefore, In this section, Decentraland has better wallet compatibility.
Are Decentraland and The Sandbox Truly Scalable?
Considering that both projects were built on top of the Ethereum blockchain, their scalability capacity is limited because of these factors:
- Very high fees: Fees are paid in ETH, which price is variable.
- Unstable tokens: The Ethereum blockchain is still undergoing many changes, including moving the consensus method from the PoW to the PoS system.
Under the PoW mechanism, Ethereum has 20 transactions per second (TPS). However, when ETH 2.0 arrives, this blockchain will have 20,000 TPS approx.
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As a result, in this factor, with the current PoW mechanism, both projects don’t have enough scalability capacity to adapt to massive adoption. However, this will improve when the ETH 2.0 PoS protocol arrives. So we can call out a tie here.
Decentraland has two tokens:
- $LAND: The non-fungible parcels in which the virtual world is divided.
- $MANA: An ERC-20 token that is burned to claim $LAND, as well as to make in-world purchases of goods and services.
Therefore, Decentraland has a DAO protocol where the community will vote for:
- Propose and vote on policy updates.
- Future LAND auctions.
- Whitelisting of NFT contracts to be allowed inside the World.
- Builder and Marketplace, and whatever the community deems relevant.
- Among others.
Also, governance voting takes place on the Decentraland DAO’s governance interface, powered by Aragon.
On the other hand, in The Sandbox, users need $SAND to participate in governance decisions of the platform via a DAO structure. Some examples of voting:
- Foundation grant attributions to content and game creators.
- Feature prioritization on the platform Roadmap.
- Delegate voting rights to other players of their choice.
- Among others.
In conclusion, the governance mechanism from both projects have very similar functions. But, Decentraland has a more structured voting platform, and it’s easier to find on their website. That’s why the winner is Decentraland.
Decentraland has a security advisory board (SAB) that acts as a guarantor of Decentraland’s smart contract security. This team aims to oversee the work of the DAO Committee and respond to vulnerability and bug reports in any of Decentraland’s contracts.
Also, the SAB includes 5 Solidity experts that have initially been selected by the Decentraland development team. The Decentraland team has influential blockchain engineering, computer science, venture capital, and data analytics leaders.
On the other hand, The Sandbox team is distributed in 4 different countries specialized in startups and software development, finance, and blockchain businesses.
In conclusion, Decentraland has three members in its team. However, The Sandbox has five members on their core team and five advisors, so there are more possibilities that The Sandbox team will have better developments.
Purchasing Lands in Decentraland and The Sandbox
The community owns the land in Decentraland and The Sandbox forever, allowing them complete authority over their projects. Therefore, landowners have authority over what material is published on their parcel of land, denoted by a set of cartesian coordinates.
As a result, the land is a digital asset that is non-fungible, transferable, and rarely kept in an Ethereum smart contract. It may be obtained by using an ERC-20 token known as MANA.
To buy lands in decentraland, you have to connect your wallet, go to the Marketplace, and browse in the “parcel and estates” section. Then, you have to put the “on-sale” option ON, and sky blue squares will appear. These are all the available lands you can buy in decentraland.
The best criteria to choose the best lands are the same as the real world. You have to look for lands near strategic places where people gather and spend time. For example, universities, casinos, other recreation places you can find. This will make your grounds have higher value rapidly and better returns in time.
For example, browsing in the Marketplace, you can see in the picture that near the Genesis Plaza, there are some $LANDS very near it, which is an ample opportunity.
Source: Decentraland Map
- The Sandbox
To buy lands in The Sandbox, you have two options:
You only have to connect your wallet, choose the land, and pay. Also, there is a P2P NFT trader, where people can swap their “The Sandbox” NFTs securely and efficiently.
The best way to buy affordable lands in The Sandbox is by browsing in the Marketplace, writing down the coordinates of each land, and looking if it’s located near the ground of a partnered company on the Map.
For example, a land whose coordinates are (-171, 122) can be purchased in Opensea. So you can put them in the “coordinate” section in Map to see if it’s near commercial lands.
Therefore, in this factor, The Sandbox wins this factor because it gives more alternatives to the user.
Source: The Sandbox Map
Recent Developments in Decentraland and The Sandbox
Decentraland has announced new developments like
- Open a virtual gallery.
- Wearable editor.
- Shoot and edit videos inside the platform.
On the other hand, The Sandbox newest developments are:
- Migrated to a Polygon NFT layer 2 to use 100X less energy than ethereum.
- Liquidity mining launch.
In conclusion, both metaverse platforms are constantly developing new features. However, The Sandbox’s NFT migration is a critical improvement for the platform with exceptional scalability. Therefore, The Sandbox wins this factor.
Decentraland has partnered with, Cyberpunk, Polygon, Atari.
On the other hand, The Sandbox has partnered with:
- The Walking Dead.
- Snoop Dogg
- South China Morning Post
In conclusion, The Sandbox wins this factor by far because, hands down as it has way too many partnerships.
Decentraland has a “Guest” mode where anyone can start playing in their Metaverse without connecting to any related wallet. However, this means that the experience inside the game is minimal, and the information will be stored on the platform.
On the other hand, in The Sandbox, you need to register first, via an email, a social media account or Gmail, or by Metamask.
Source: The Sandbox
In conclusion, we think that The Sandbox gives users more accessible alternatives. That’s why we think this project wins this factor.
Token Analysis in Decentraland and The Sandbox
Decentraland native token, $MANA, is an ERC-20 token and has the use cases and features like:
- Made in-game purchases (claim Land ownership)
- A fixed supply of 2.1 billion tokens.
- To pay fees when a parcel is purchased.
- Pay Decentraland development infrastructure’s costs.
- It is burned to claim $LAND tokens. This means that users use $MANA to buy parcels.
Also, Decentraland has another token called $LAND, which is an ERC-721 token:
- It is an NFT used to distribute lands in the Metaverse.
- It is used by developers to build in the Metaverse.
On the other hand, The Sandbox has its native token called $SAND and has multiple class fungible tokens called $MCFT. Therefore, $SAND uses cases are:
- Platform’s utility token
- Provide developers actual ownership of their creations as NFTs.
- Rewards participation
- Allows users to upload, publish, sell assets represented in ERC-721 and ERC-1155 standards.
- Users can trade digital assets.
- Used for Governance voting
- Fee capture model (5% of transactions fees are allocated in a staking pool as rewards for token holders)
- Staking rewards for token holders.
- Company reserve (20% of total token supply)
Moreover, The Sandbox has $ASSETS tokens that is an ERC-1155 standard that is used to represent a mix of a cryptocurrency and an NFT in the same asset. Perfect for the Metaverse. Finally, The Sandbox has also developed two more tokens:
- GEMS: These ERC-20 tokens are burned to give attributes to the ASSETS tokens.
- CATALYSTS: These ERC-20 tokens are burned to mint ASSETS tokens to let users associate several GEMS tokens to an ASSET token.
In conclusion, the Sandbox wins in this factor by far because they’ve developed way more than token development, giving their metaverse optimized features.
Above all, considering all the factors previously analyzed, we can say that The Sandbox is a technically advanced and truer version of Metaverse. That means it’s much ready for a brighter future than Decentraland.
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