According to a report by Kaiko Research, the Sandbox project will release 12% of the token supply to seed and strategic investors, equivalent to approximately $273 million worth of SAND, and half of this 12% will be given to investors.
SAND is the utility token used on the Sandbox ecosystem as the basis for transactions and interactions. Its price has risen 90 percent since the start of the year and is now trading at $0.74, according to Messari data.
But it’s worth noting that the token is still down 90% from its all-time high of $8 reached in November 2021.