DOI QR코드

DOI QR Code

Web 3.0 Business Model Canvas of Metaverse Gaming Platform, The Sandbox

  • Song, Minzheong (Department of Media Communication & Advertising, Hansei University)
  • Received : 2024.04.25
  • Accepted : 2024.05.10
  • Published : 2024.06.30

Abstract

We look at Web 3.0 business model canvas (BMC) of metaverse gaming platform, The Sandbox (TS). As results, the decentralized, blockchain-based platform, TS benefits its creators and players by providing true ownership, tradability of decentralized assets, and interoperability. First, in terms of the governance and ownership, The SAND functions a governance token allowing holders to participate in decision and SAND owners can vote themselves or delegate voting rights to other players of their choice. Second, in terms of decentralized assets and activities, TS offers three products as assets like Vox Edit as a 3D tool for voxel ASSETS, Marketplace as NFT market, and Game Maker as a visual scripting toolbox. The ASSETS made in Vox Edit, sold on the Marketplace, can be also utilized with Game Maker. Third, in terms of the network technology, in-game items are no longer be confined to a narrow ecosystem. The ASSETS on the InterPlanetary File System (IPFS) are not changed without the owner's permission. LAND and SAND are supported on Polygon, so that users interact with their tokens in a single place. Last, in terms of the token economics, users can acquire in-game assets, upload these assets to the marketplace, use for paying transaction fees, and use these as governance token for supporting the foundation.

Keywords

Acknowledgement

This work was supported by Hansei University Research Fund of 2023.

References

  1. Blockchain Founder Group, "Web3 Business Models - An Insight into the Metaverse & GameFi ," https://blockchain-founders.io/educational-resources-for-entrepreneurs/web3-business-models-an-insight-into-themetaverse-gamefi, May 3, 2023.
  2. Adage, "Roblox isn't the Metaverse - Why it's closest thing Marketers have to Web3," https://adage.com/article/digital-marketing-ad-tech-news/why-roblox-metaverse-marketing-ramp-despite-web3- interoperability/2446721, October 31, 2022.
  3. Tokenminds.co, "Web3 Metaverse: 5 Rationale This Evolution Will Break the Internet in A Good Way," https://tokenminds.co/blog/crypto-nft-agency/web3-metavese, July 27, 2023.
  4. M. Z. Song, "Web3 Business Model Innovation Approach and Cases of Korean Game Giants," International Journal of Internet, Broadcasting and Communication (IJIBC), Vol.16, No.1, pp.241-252, February 2024. DOI: http://dx.doi.org/10.7236/IJIBC.2024.16.1.241.
  5. R. Macha-Huaman, O.M. Zavala-Zavala, F.C. Navarro-Soto, J.S. Zarate-Suarez, D.R. Yaya-Castaneda, R.G. ChuraLucar, L. Castilla-Jibaja, P.J. Castro-Mejia, C.Monica. Samaniego-Montoya, R.J. Espinoza-Casco, and R. RomeroCarazas, "Business Model Canvas in the entrepreneurs' business model: a system approach," EAI Endorsed Transactions on Scalable Information Systems, online first, July 2023. DOI: http://dx.doi.org/10.4108/eetsis.3594
  6. M. Pepin, M. Tremblay, L.K. Audebrand, and S. Chasse, "The responsible business model canvas: designing and assessing a sustainable business modeling tool for students and start0up entrepreneurs," International journal of sustainability in higher education, October 2023. DOI: https://doi.org/10.1108/IJSHE-01-2023-0008.
  7. H. E. G. Lopes, V. C. Rodrigues, R. S. Leite, and M. Gosling, "Business Model Canvas and Entrepreneurs: Dilemmas in Managerial Practice," Brazilian Business Review (BBR), 2023. DOI: https://doi.org/10.15728/bbr.2023.20.3.2.en.
  8. A. Osterwalder, Y. Pigneur, and C.L. Tucci, "Clarifying Business Models: Origins, present and future of the concept," Communications of the Association of Information Systems, Vol.15, May 2005. DOI: https://doi.org/10.17705/1CAIS.01601.
  9. A. Osterwalder and Y. Peigneur, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Hoboken, New Jersey, USA: Wiley, 2010.
  10. E-equalsmc3, "Alex Osterwalder's Business Model Canvas," https://e-equalsmc3.com/alex-osterwalders-businessmodel-canvas/, retrieved on February 3, 2024.
  11. Outpost Swisscom, "Web3 Business Model Canvas," July 11, 2022, https://outpost.swisscom.com/2022/07/11/web3-business-model-canvas/.
  12. Redwerk, "Metaverse Use Cases: 15 Real-Life Examples Across Industries," https://redwerk.com/blog/metaverseuse-cases-across-industries/, October 20, 2023.
  13. The Sandbox, White Paper, 2020
  14. Medium, "More Alternate Realities than Grains of $SAND - Sandbox Fundamental Analysis," https://medium.com/coinmonks/more-alternate-realities-than-grains-of-sand-sandbox-fundamental-analysis762bcb9a3863, March 28, 2022
  15. Medium, "The "Metaverse" Economy: Journey from Web 2.0 to Web 3.0," https://medium.com/@bloccelerate/themetaverse-economy-journey-from-web-2-0-to-web-3-0-8ad0b1af7f69, December 28, 2021.
  16. The Sandbox, "SAND," https://www.sandbox.game/en/about/sand/, retrieved on February 12, 2024.
  17. Binance, "The Sandbox," https://www.binance.com/en/research/projects/the-sandbox, August 5, 2020.
  18. Gamedaily.biz, "The Sandbox's U.S. CEO shares the biggest lessons he's learned so far," https://www.gamedaily.biz/the-sandboxs-ceo-shares-the-biggest-lessons-hes-learned-so-far/, May 3, 2023.
  19. Coninsutra, "The Sandbox Fundamental Analysis - Metaverse Crypto Gaming Platform," https://coinsutra.com/sandbox/, October 9, 2021.
  20. Ledger, "The Ultimate Guide to The Sandbox Metaverse," https://www.ledger.com/academy/the-ultimate-guide-tothe-sandbox-metaverse, June 30, 2023.
  21. The Sandbox, "The Sandbox is deploying on Polygon," https://www.sandbox.game/en/blog/the-sandbox-isdeploying-on-polygon/3060/, July 13, 2022.
  22. The Sandbox, "The NFT Marketplace Is Now Live on Polygon!" https://sandboxgame.medium.com/the-nftmarketplace-is-now-live-on-polygon-adeb2c93609d, December 15, 2023.
  23. Hackernoon, "Everything You Wanted to Know About THE SANDBOX," https://hackernoon.com/everything-youwanted-to-know-about-the-sandbox, November, 8, 2022.
  24. Blacktokenomics, "Sandbox Tokenomics," https://blacktokenomics.com/sandbox-tokenomics/, July 28, 2023.