Metaverse is dead in the West, but ‘so hot’ in Asia: Sandbox co-founder

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    While the Metaverse may feel “dead” to users living in the US, the industry is thriving across Asia, says Sebastien Borget, co-founder and chief operating officer of The Sandbox. .

    Speaking to Cointelegraph at the Asia Blockchain Gaming Alliance’s Web3 Summit in Singapore on September 12, Borgett said that last year, roughly 50% of Sandbox’s business came from several countries in Asia. he said.

    “If we don’t focus on Asia, North America and the West will think the metaverse is over,” Borghetto said.

    “But Asia is very hot. Hong Kong and South Korea are the top two markets, followed by Japan.”

    Meanwhile, Borghetto said he will soon announce the launch of Lion City on stage at Token 2049 in Singapore. The Lion City is a new district of 512 virtual land parcels within the Sandbox Metaverse that aims to showcase Singapore’s culture through partnerships with a number of global companies. brand.

    Borget detailed how The Sandbox completed a major virtual land sale in Turkey. Turkey has what Metaverse describes as a “large ecosystem.”

    Sebastien Borget speaks on stage at the Asian Blockchain Gaming Alliance Web3 Summit.Source: Cointelegraph

    “The Sandbox ecosystem has grown to well over 400 brands, 700 partners around the world, and 200 verified agencies built on Sandbox,” he added.

    Despite slowing use of the Metaverse in the West, Borget noted with optimism a number of new developments in the Web3 and virtual reality space more broadly.

    The first notable development was the introduction of dynamic NFTs, which allow creators to modify metadata and change the appearance and functionality of a given asset.

    “We feel that every NFT must be truly unique, not only in appearance, but also in all metadata attributes.”

    “We often make this comparison to the real world. For example, if I buy a tennis racket, is it the same one that Pete Sampras has ever used before or after?” Borghetto joked.

    In addition, Borget said the release of Apple’s Augmented Reality Vision Pro headset is a huge step forward for the Metaverse industry, as its augmented reality capabilities allow digital assets in the physical environment to look just like the real thing. said.

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    “This makes digital assets even more accessible. Rather than just sitting in a wallet that has to be opened in a page in a specific browser or application, it has to be opened in the surrounding environment,” Borghetto said. he explained.

    “Now that we can see the content up close, we can interact with it even more.”

    Ultimately, Boget concluded that there is no right or wrong way to promote widespread adoption of Web3 in the metaverse.

    Sebastien Borget speaks on stage at the Asian Blockchain Gaming Alliance Web3 Summit.Source: Cointelegraph

    “The traditional gaming industry is in a good position to believe that Web3 adoption will only happen if blockchain delivers games that offer the same level of quality as functioning Web2 games.”

    Borget acknowledged that this could be a strong use case for many gaming companies in this space, but said that metaverses like The Sandbox offer users new experiences that are different from the traditional gaming world. He pointed out that it helps to produce.

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