US Hip Hop Superstar Snoop Dogg has stepped up his investments in the Metaverse after launching the sale of his LAND digital real estate on Thursday last week, the Sandbox announced in a press release.
The rap icon opened sales of 122 LANDs and 67 premium LANDs plots on the Metaverse platform along with an auction for three OpenSea 3×3 ESTATES. Premium LANDs will include three Snoop Dogg NFTs in the exclusive real estate sale.
The famed rapper’s ‘Snoopverse’ also began selling early access passes, which include additional benefits and access to NFT-backed artworks.
How does Sandbox Work?
The Sandbox, a community-based content monetisation platform, allows creatives to buy and sell assets and gaming experiences using NFT and blockchain-based technologies.
Sandbox uses the SAND utility token for buying and selling across its Metaverse platform and is based on an ERC-20 Ethereum blockchain technology, with a total cap of 3 billion tokens.
According to the platform’s website, users and investors can buy digital real estate in the Sandbox Metaverse to build experiences, namely games and NFT-backed digital assets, with further capabilities to combine lands as an ESTATE. Currently 166,464 LANDS are available on the Sandbox Metaverse.
Users can earn money on the platform by selling assets, owning land, and building games using the Metaverse’s Game Maker tool.
The website also notes 50 percent of all transactions on its market earned from LAND sales, transaction fees, Premium NFT sales, and subscriptions fund its Foundation, which facilitates research and support for education on the Metaverse, NFTs, and $SAND, among others.
The Snoopverse Rises
The news comes after both Snoop Dogg, also Calvin Cordozar Broadus Jr, teamed up with Outlier Ventures as a strategic member with Canadian music producer Deadmau5 to advise startups joining the London-based firm’s Base Camp Accelerator programme.
Snoop Dogg has also ramped up efforts to build and promote the Metaverse for the global entertainment industry and others, namely after joining a strong roster of musical heavyweights on Stage11’s XR studio.
Musical superstars such as Snoop Dogg, David Guetta, Akon, Ne-Yo, and Martin Garrix, and many others are set to debut virtual concerts on the rising extended reality (XR) platform.
