September 13, 2023

The Sandbox CEO Says Metaverse Is Hot in Asia Rather Than West

The Sandbox CEO

The Sandbox CEO

Sebastien Borget, the co-founder and chief operating officer of The Sandbox, said the metaverse may seem inactive to users in the United States, but it is flourishing in Asia.

Borget revealed that in the past year, around 50% of Sandbox’s business has come from various countries in Asia. He shared this insight with Cointelegraph during the Web3 Summit of the Asian Blockchain Gaming Alliance in Singapore on September 12.

“If you don’t focus on Asia, you will think the metaverse is dead from the North American and the Western side,” said Borget, adding: “But it’s so hot in Asia. Hong Kong and Korea are the top two markets, followed by Japan.”

Borget shared exciting news that Lion City, a new neighborhood of 512 virtual land plots in the Sandbox metaverse, is set to launch at Token 2049 in Singapore.

Through a partnership with global brands, Lion City aims to showcase Singapore’s culture. Borget also mentioned the recent success of a virtual land sale in Turkey, where the Sandbox metaverse has a thriving ecosystem with over 400 brands, 700 partners, and 200 verified agencies building on it.

Although the use of the metaverse has slowed down in the West, Borget remained optimistic about new developments in the Web3 and virtual reality sector.

One significant advancement in the world of NFTs is the creation of dynamic NFTs. These types of NFTs give creators the ability to modify the metadata, as well as alter the appearance and characteristics of a particular asset.

He shared their belief that all NFTs should be genuinely unique, not only in terms of appearance but also in all of their metadata attributes.

Borget mentioned that the launch of Apple’s Augmented Reality Vision Pro headset is a significant advancement for the metaverse industry. The extended reality features enable digital assets to appear as realistic as physical ones in real-world settings.

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