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The Sandbox is doing more than just buying NFTs. They are also supporting creators by adding value to NFTs by increasing their utility.
On Monday 6th September The Sandbox, an Ethereum-based gaming company, bought an NFT from Bored Ape Yacht Club for 740 ETH (>$2.9 million) to grow the wider NFT ecosystem.
In a Twitter thread explaining their latest NFT purchase, The Sandbox said: “We don’t just build and sell. We invest and help build the ecosystem.” and that “We truly believe in every NFT community project as the biggest creative revolution…”. Therefore, The Sandbox’s latest high-ticket purchase is part of a wider push to grow the entire NFT ecosystem to help other projects thrive and succeed.
The Sandbox is doing more than just buying NFTs. They are also supporting creators by adding value to NFTs by increasing their utility. It’s possible for NFT creators and owners to showcase their NFTs in virtual art galleries across The Sandbox metaverse. The company has also announced plans that will allow Bored Ape owners to transform their ape images into playable 3D avatars that can be used to explore and interact with the metaverse.
The NFT was Bored Ape #3749 a.k.a ‘The Captain’. It’s the 27th rarest ape in the entire collection of 10,000 NFTs. The ape has six rare traits including gold fur, a sea captain’s hat, a black t-shirt and laser eyes. Only 0.46% of the Bore Ape Yacht Club collection has solid gold fur and only 0.69% have laser eyes.
The Bored Ape Yacht Club is a collection of unique digital collectibles living on the Ethereum blockchain. The NFT project currently has 5.4K owners and a floor price of 39.49 ETH. Over the last 30 days, the project has traded a total secondary market volume of 86,473.9502 ETH with an average price of 38.8302 ETH per sale.
The Sandbox company is on its way to becoming one of the largest holders of Bored Apes as they expand their NFT collection. After their latest purchase of Bore Ape #3749, they now have a total of 31 apes worth around 2337.979 ETH or $8,157,465.91 right now. The estimated net worth of The Sandbox NFT collection which includes a total of 350 NFTs is 3880 ETH which is the equivalent of more than $13.5 million.