Decentralized gaming platform, The Sandbox is set to execute a SAND token release valued at $133.86 million. According to data from TokenUnlocks, Sandbox will release 332.55 million SAND tokens into circulation on August 14, representing 16.16% of the token’s maximum supply.
New SAND Tokens In 2023 To Rise Over 700 Million
With the upcoming SAND release, the total number of new SAND tokens in 2023 is expected to rise to 705.3 million. This latest unlock will add to the 372.75 million SAND released earlier during the last token unlock in February.
Based on more data from Token Unlocks, the newly released tokens will be allocated to various parties, including the Sandbox’s development team, project advisors, strategic and seed investors, and the project’s reserve.
SAND functions as the utility token of the Sandbox metaverse, serving as the platform’s payment medium and governance token. According to its design, SAND is expected to undergo a token unlock every six months unt
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