A Fair Gaming System with the Sandbox

Web3 is a complex and dynamic landscape that is constantly seeking to reconcile transparency and privacy. On one hand, there is a desire for data privacy and the ability for users to remain anonymous. On the other hand, there is a need for transparency in order to maintain a trustworthy and legitimate community.

The paradox of anonymity in Web3

Web3 is heading towards an ecosystem that allows for greater control over personal data. The trustless and permissionless operations of the blockchain are made possible due to the public nature of transactions. However, this also means that users are free to determine how they are identified, and these identities may not always be linked to their true selves.

Unfortunately, this level of anonymity can also lead to negative outcomes such as money laundering and reputational damage. The case of Wonderland’s treasury manager, “Sifu,” being revealed as Michael Patryn, a co-founder of a fraudulent crypto exchange, highlights the drawbacks of pseudonymity in web3.

KYC and Crypto: a complicated adoption

KYC, or Know Your Customer, is a decades-old concept that has become a standard in the traditional financial market. In recent years, it has also become an essential component of the cryptocurrency industry.

The anonymity of crypto transactions makes them susceptible to misuse by malicious actors. To counteract this, governments often require companies dealing with crypto to implement KYC policies. It does not please everyone but, some projects in the crypto industry are also implementing KYC to ensure a fair user experience and to protect their community and contributors.

KYC remains an efficient solution when it comes to creating trust in the ecosystem. 

The Sandbox and Synaps partner for verified players

One such project is The Sandbox, a popular crypto gaming platform with over 40 million downloads and one million monthly active users. To provide a safe and fair gaming environment, The Sandbox has partnered with Synaps, a well-known provider of KYC solutions, to verify the identities of players before they can claim rewards in Alpha Season 3.

The Sandbox is taking a proactive approach by implementing KYC to avoid the negative consequences of anonymous play, such as money laundering and malicious activities. However, players will still have the freedom to play the game without being verified. Verification will only be required for those who want to claim rewards or join upcoming raffles.

By implementing a KYC process to grant reward access, the Sandbox aims to provide its player community with a fair gaming experience. With this in hand, the amount of reward received by honest players will not be affected and diminished by the presence of bots. The Sandbox creates a fair competition with this system. 

Gradual identification with Synaps

Synaps understands the varying needs for identity verification in web3 communities, from regulatory compliance to filtering bots. As such, they have developed a step-by-step identification flow that balances transparency and anonymity while staying true to the privacy-conscious ethos of the crypto industry.

In addition to KYC, Synaps offers customized identity solutions that provide the right balance between transparency and privacy. This includes confirming humanhood, certifying uniqueness, and more, to support a gradual approach to identity verification that is tailored to each project's specific needs.