Widespread Ethereum-based Metaverse gaming platform The Sandbox has unveiled a bridge that allows customers to switch their digital NFT LAND and native SAND tokens over to Layer-2 community Polygon (MATIC).

Whereas The Sandbox will reside on Ethereum for essentially the most half, the platform has emphasised that conducting SAND and LAND transactions on Polygon will lead to decrease fuel charges, quicker transaction speeds and greener interactions on the blockchain.

The agency acknowledged through Twitter on June 29 that it’s now prepared to begin deploying LAND on Polygon, and customers will be capable to obtain a ten mSAND cashback value roughly ($10.60) on LAND ported over to the Layer 2.

We’re able to deploy LAND to @0xPolygon

Every LAND bridged grants a ten mSAND cashback!
LAND multipliers on each mSAND staking applications are again!
LAND gross sales and LAND staking options (on Polygon) are coming quickly!

BRIDGE NOW ➡️ https://t.co/jlcSKxuBWh pic.twitter.com/1tuAAsqEZP

— The Sandbox (@TheSandboxGame) June 28, 2022

mSAND is the brand new ticker for SAND tokens primarily based on Polygon, and has an identical pricing to Ethereum-based SAND. As a part of the bridge going reside, The Sandbox will quickly roll out two staking applications for LAND and mSAND, and a brand new drop of LAND gross sales on Polygon.

The bridge to Polygon and the brand new staking applications have been within the works since December 2021, and the agency acknowledged in a weblog publish that “300,000 mSAND will probably be injected” into the mSand/MATIC staking pool weekly, plus a bonus 200,000 mSAND for the primary 4 weeks to incentivize early adoption. The particular share of staking rewards has not been detailed but nonetheless.

In accordance with information from CoinGecko, SAND is up 12.9% over the previous seven days to sit down at $1.06 on the time of writing. Nevertheless, the Polygon-related announcement doesn’t seem to have had an affect on the worth, as SAND is down 2.4% over the previous 24 hours.

Stack ETH in your tax loss wants

Ryan Carson, the founding father of NFT enterprise fund 121G has pulled off a “grasp class” by promoting Moonbird NFT #6969 for $52,000 loss in keeping with NFT dealer OxQuit, because it represented a serious 74.2 ETH acquire whereas representing a tax write-off on the identical time.

Carson, the previous COO of the Moonbirds venture, initially purchased the NFT for 69.49 ETH on April 16 when it was value $212,000. On June 29, Carson bought the NFT for 143.69 ETH, value roughly $160,000.

Tweeting to their 54,900 followers on June 30, OxQuit, who seems to personal a Bored Ape Yacht Membership NFT, labeled the transfer as a “grasp class in easy methods to stack ETH whereas additionally reserving a tax loss.”

Not everybody agreed nonetheless, with self-described NFT degen HollanderAdam commenting:

“Or he might have simply not purchased the fowl. Waited and acquired 143 ETH at this time for $160k. After which had an additional $52k in his account.”

Because it stands, Carson would want to see a 32.5% ETH worth enhance for his ETH hodling technique to see him again within the inexperienced, though he’d nonetheless be on the hook for capital positive aspects tax if he have been to promote.

Pixels.com launches NFT merch help

On June 29, Print-on-demand market large Pixels.com launched a brand new NFT service that allows house owners to repeat and paste their pockets deal with and promptly rework their tokenized paintings into merch.

The service is constructed for hodlers of Ethereum-based NFTs and it really works by enabling Pixels to retrieve the NFT paintings after which generate “3D, photorealistic previews of every accessible product” on the web site. Pixels presents customizable merchandise starting from t-shirts to canvas prints and stationery.

Print-on-demand firms are a useful software for artists and content material creators because it permits them to outsource all the merch manufacturing and transport course of.

Snoop Dogg says crypto winter is ‘nice’

Iconic rapper and avid NFT collector Snoop Dogg has expressed thankfulness over the present crypto winter, as it’s washing out unhealthy gamers within the house and can lead to “nice issues” shifting ahead.

Talking with CNBC throughout NFT.NYC final week, Snoop acknowledged that the present bear market has “weeded out all of the individuals who weren’t purported to be within the house and who have been abusing the alternatives that have been there.”

Bear market will final till crypto apps are literally helpful: Mark Cuban

The rapper went on to counsel that many of the initiatives and firms that survive the carnage will largely offer good merchandise:

“Now it’s going to convey on nice enterprise, and shifting ahead, when the market comes again, there’ll solely be nice issues to choose and select from.”

Different Nifty Information

Blockchain analytics agency Flipside Crypto has launched a web-based Software program Improvement Equipment (SDK) referred to as ShroomDK, which relies on nonfungible tokens (NFTs) and supplies an automatic means to tug “complete” blockchain information through software program.

Catalonian director-general of innovation Daniel Marco has revealed that the federal government is working in direction of constructing a Catalonian metaverse referred to as the Cataverse.