The Sandbox introduces CATALYSTs, ERC-1155 tokens

The Sandbox has announced the launch of CATALYSTs. These are ERC-1155 tokens that will enable participants to mint their collections. Moreover, owners of the minted assets will have the option to define rarity and properties. It is important to note that only a single asset can be minted with a single CATALYST.

CATALYSTs will be gifted to the owners of LAND on December 14, 2023. There is no restriction on how many assets they can mint. The limit is defined only by the number of ERC-1155 tokens they have in their wallets. Depending on that, holders can mint their collection, an asset, or copies of assets.

After minting, individuals can monetize the same assets for selling purposes. CATALYSTs have been divided into five types – Legendary, Epic, Rare, Uncommon, and Common. The type of CATALYST determines the rarity of the asset it is minted with.

The type of token determines how many attribute points a holder gets. Attribute points then help strengthen different aspects of the asset. For instance, Common CATALYST gives away zero attribute points; however, Legendary CATALYST assigns 4 attribute points. Similarly, Epic, Rare, and Uncommon have 3, 2, and 1 attribute points associated with them.

All of them decide how a player assigns points to defense, power, and speed.

The distribution mechanism will give eligible players CATALYSTs. It will happen on December 14, 2023, with LAND owners prioritizing getting their hands on the token as a gift. A snapshot will happen on December 11, 2023, at 12 p.m. UTC.

There is an opportunity to earn CATALYST on top of SAND rewards. All a participant has to do is complete the Winter Event requirements. They are eligible to pursue the same only if they are LAND owners.

An announcement about CATALYST is yet to spark a rise in the trading value of SAND, the native token of The Sandbox. It was last seen exchanging hands at $0.5171 with a slip of 9.02% in the last 24 hours. However, it reflects an increase of 17.08% in the last 7 days and 25.08% in the last 30 days.

The introduction to CATALYST by The Sandbox comes days after it sent out a public invitation to all the players, seeking them to celebrate holidays in the metaverse. The initiative has been titled Season’s Greetings and will commence on December 11, 2023. The event will conclude on January 22, 2024, that is, after 43 days.

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The prize pool consists of 600,000 SAND tokens. Players who have completed 200 experiences in the season will determine the distribution of shares from the pool across 3 categories. Players must complete their KYC and anti-fraud checks in order to claim rewards.

A snapshot for CATALYST will happen on December 11, 2023, at 12 p.m. UTC. This will pave the way for eligible LAND owners to get the ERC-1155 token as a gift.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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