Thread by @cfurlong_, Bought approx 300 ETH of @TheSandboxGame land this month. Was a mix [...]

Bought approx 300 ETH of @TheSandboxGame land this month. Was a mix of personal, DAO & fund acquisitions driven by three factors:

- Shifting into working assets
- Wanted to increase virtual land holdings
- Timing (both game & market)

Why Sandbox? (1/14)

Before entering The Sandbox, I spoke with 3 diff game developers to get their take on the platform. All were very positive. Good team, strong beta materials, well-designed systems.

Couple that with good partners & a token economy that's derisked by size at this point. (2/14)

Then there was the personal appeal. It's a good looking platform. An easy analog (Sandbox is Roblox on chain). My kids both Minecraft script, so I can see the market for their style of play & game building.

Still, I had some concerns... (3/14)

The biggest barrier to Sandbox is the size of the map & the lack of information on their transportation system. The world is capped at a whopping 194k parcels which makes it the largest metaverse we've seen. This isn't Somnium with 5k plots. (4/14)

3 ways to travel:
- Direct navigation
- Walking plot to plot
- Some form of portal system (forthcoming)

Location is key. You want to buy near a Sandbox project plot or a big active project. Unfortunately, there's more land than announced anchor games. Choose carefully. (5/14)

Next up is sizing, 3x3 estates are the minimum size to build a good game. So, we were looking at 3x3s, 6x6s & 12x12s. Some say 12x12s are overkill, but they can be subdivided. Plenty of single plots, but those didn't fit our profile. (6/14)

Sales data is hard to come by because estates sold on OS are broken into smaller bundles & there's no good reporting on them. At this moment, buying on secondary is better than buying primary. Their last few auction estates sold at or over current secondary value. (7/14)

That's because there's a lot of early buyers looking to cash out right now. So, do the legwork of getting into their discord & finding deals there rather than waiting for the next auction. You'll save money, have better choices & can control the deals. (8/14)

Estates are sold on OS in multiple bundles. It's a limitation of Open Sea bundle sizing. This means you can't easily get estate sales history because a 6x6 sells in 4 separate transactions. Generally you can figure out pricing based on a multiple of current floor. (9/14)

3x3 Sandbox Estates carry a higher premium over floor (0.6-0.7 ETH/land). That drops to (.52-.55) as you go 6x6, then slips under 0.5 at 12x12. As comp, current floor on a single parcel is 0.4 ETH. (10/14)

There's a lot of price variability in Sandbox secondary because most sellers bought in early & have different needs/estimations of what's a good cash out. Need to do your homework & shop around in Discord. Bargains can be found. (11/14)

For us, part of the appeal was this moment in the market. Lot of people looking to take their early profits just ahead of the Q2 launch. Good time to deploy larger amounts of ETH because the pricing has not firmed up & consolidation has not happened yet. (12/14)

With all that said, I think @TheSandboxGame will need time before it really takes off. The game editor is still being refined, the asset economy needs to be more affordable & early games need to find the right models for others to expand on. Give it a 9-12 month horizon. (13/14)

This is a complex NFT project. I haven't even touched on the SAND token (missed the run up there). On the upside, I like @TheSandboxGame as the most likely crossover metaverse (gaming). On the downside, the risk is more all metaverse land goes to zero than this falters. (fin)

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