We’re in a unique position to define the market rates for building in the decentralized metaverse. With over 1,000 individual metaverse builders and studios on our beta platform, we’ve completed the world’s first builder rate analysis. Our team surveyed the top independent metaverse builders and studios with 10 rate-based questions to better understand the costs for building minimally designed assets in 2022. We want to use this price discovery data, collected from creators in both The Sandbox and Decentraland, as a bedrock foundation to support current and future builders and clarify for brands what to expect as the virtual world grows.
What Is SandStorm?
For those new to SandStorm, welcome! We connect brands with the best metaverse builders via our platform. The process begins when an interested brand submits a proposal to create a metaverse experience. Our qualified team scouts builders in every specialty using verified profiles from all over the world. It’s a central marketplace where talent can be showcased and brand customers can commission the best of the best. These custom-build teams, often from 1 to 5 builders, develop assets in requisite file formats, mint as NFTs, and our team facilitates the on-chain purchase for brand customers. The vast majority of brands need help to oversee their projects and our team coordinates premier studios and independent builders from start to finish.
SandStorm’s decentralized approach to assembling teams optimizes builder talent to provide the best possible outcome for brands. Think of it as if you were building a house and you could individually select the best plumber, roofer, electrician, etc from all the top real estate development firms worldwide to build your home.
As the first of its kind platform, SandStorm takes seriously its role in helping define an entirely new marketplace. We want to establish a reliable and transparent price index for metaverse construction. It is critical that both skilled builders and brand customers have access to accurate pricing data to trust they are transacting fairly. Questions like “What should I charge for my builds?” and “What does it cost to build in the metaverse?” need clear answers. As in any emerging market, it’s vital to equip the producers and consumers of primary goods and services with honest information. We want to empower both parties with current market rates and keep asking the right questions.
We understand the importance of education and make it a priority here at SandStorm. That’s why we produce five live streams per week, publish regular educational blogs, and host bi-weekly builder competitions. We reach millions of viewers each month.
The Builder Rates Survey
Each metaverse experience is unique and the labor required to build depends on many variables. As such, the costs to build any given experience will vary dramatically dependent on these variables. The complexity of some builds may require five builders and two months and others may only necessitate one builder and a week. We’ve facilitated a number of successful projects and want to use these experiences to capture buyer and seller expectations. Our first builder rate report had 52 of the best individual metaverse builders and development studios contributors. Each answer reflects their “MINIMALLY DESIGNED” creation with the intention of setting a base rate for all.
Here’s a glimpse of the Builder Rate Report for wearables and assets in both The Sandbox and Decentraland:
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SandStorm intends to survey at regular intervals to monitor market rates and share findings with the community annually. Each of our brand partners will have access to our platform’s data on a more frequent basis to better understand how to price their metaverse assets in a rapidly developing market. This report is a big first step for the community and we’re excited to share its findings with all of you.