Revamping NFT Asset Creation and SAND Token Utilization

📁 Proposals SIP Ideas
1

What
This SIP proposes to enhance NFT asset creation and marketplace interaction by requiring creators to embed $SAND tokens when minting assets. Additionally, the proposal introduces mechanics for players to add rarity and attributes to assets post-purchase, along with a reroll system to refine attributes, thus promoting deeper $SAND token integration within the game.

Why
The current system forces creators to decide the rarity and attributes of an asset when minting, and doesn’t fully leverage $SAND tokens, limiting creative freedom and restricting potential buyers. A player may appreciate the asset’s design but avoid purchasing it due to unfavorable attributes chosen by the creator.

This new method shifts the decision-making power to players, who can personalize their purchased assets with catalysts and reroll attributes as needed. This flexibility will not only increase player engagement but also boost secondary sales, as players who obtain perfect attributes through rerolls may sell these optimized assets to others who weren’t as lucky with their own rerolls.

How

  1. $SAND-Embedded NFTs:
  • Every time a creator mints an asset, they must embed one $SAND token per asset copy. For example, minting 10 copies of an item would require 10 $SAND tokens. This ensures that every asset in circulation has a base value tied to the game’s currency and $SAND tokens are utilized to create a healthier economy.
  1. Post-Purchase Customization (Catalyst System):
  • Players can purchase an asset and later apply catalysts to unlock attributes and determine its rarity. Creators would no longer need to own a catalyst to mint an asset. Instead, the player decides the asset’s fate post-purchase.
  • Catalysts would range in rarity (e.g., Common, Rare, Epic, Legendary), with rarer catalysts granting better or more attributes.
  1. Attribute Reroll System:
  • Players can reroll their asset’s attributes up to five times to improve its quality, at a cost in $SAND. The cost increases with the rarity of the catalyst:
    • Common Catalyst: 1 $SAND per reroll
    • Rare Catalyst: 5 $SAND per reroll
    • Epic Catalyst: 10 $SAND per reroll
    • Legendary Catalyst: 25 $SAND per reroll
  1. Burning NFTs for Embedded $SAND:
  • Players can choose to burn an NFT to recover the $SAND token embedded in it. This mechanism ensures that even gifted or won NFTs retain monetary value, encouraging more interaction with the platform and increasing engagement.

When
Upon SIP acceptance, the Sandbox Product Team will conduct a feasibility study and assess risks. They will then provide a development timeline and cost estimate. After that, the community will be consulted again for final approval before development starts.

Who
Proposed by Cryptokoosha, active player, content creator and member of the Sandbox community since 2020.

Benefit to The Sandbox Ecosystem

  • Increased $SAND Utility: The proposal integrates $SAND tokens into both the creation and enhancement processes, ensuring greater use of the token within the platform.
  • More Dynamic Marketplace: By allowing players to add attributes, reroll stats, and burn NFTs, the marketplace will see increased activity as players buy, sell, and upgrade their NFTs.
  • Player Engagement: Players will have more control over the progression of their assets, making the game more interactive and rewarding in the long term.
  • Creator Flexibility: Creators can mint assets without needing to worry about owning catalysts, giving them more freedom to create and sell unique items.

Risk Analysis

  • Asset Loss or Exploits: Introducing more complex mechanics, such as rerolling and burning NFTs, may lead to potential exploits or bugs. Thorough testing will be required to ensure the system is stable and secure.
  • Economic Impact: Changes in the way NFTs are valued and upgraded could disrupt the existing marketplace, so a clear framework for how $SAND tokens and catalysts are handled will need to be established.

Budget Requested
This proposal is a request for a feasibility study, so no budget is required at this stage. The Sandbox Product Team will provide a detailed cost estimate after assessing the technical requirements.

Implementation Plan
Once approved, the Sandbox Product Team will begin a feasibility study, including a risk assessment, development cost analysis, and timeline creation. The final plan will be presented to the community.

Metrics for Success
Key success indicators for this proposal include:

  • Increased marketplace volume
  • Higher $SAND token utilization
  • Greater creator earnings due to enhanced asset utility and marketplace dynamics

Final note:
I’m eager to hear thoughts and feedback from both the team and community. Feel free to connect with me on X or YouTube for further discussion.
X (Twitter)
YouTube Channel

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