In a world where the Western perspective might deem the metaverse as losing its allure, The Sandbox co-founder and COO, Sebastien Borget, has a different tale to tell. According to Borget, the metaverse industry is experiencing a remarkable boom in Asia, particularly in regions like Hong Kong, Korea, and Japan.
The Asian Metaverse Renaissance
While the metaverse may appear to be languishing in the United States, it’s ablaze with enthusiasm in Asia. Sebastien Borget, speaking at the Asian Blockchain Gaming Alliance’s Web3 Summit in Singapore on Sept. 12, revealed that over the past year, approximately 50% of The Sandbox’s business has originated from various Asian countries.
Borget emphasized, “If you don’t focus on Asia, you will think the metaverse is dead from the North American and Western side.”
The Asian Powerhouses
Borget further pointed out that the epicenter of this metaverse resurgence lies in Hong Kong and Korea, with Japan following closely behind.
Lion City: A Cultural Showcase in the Metaverse
In an exciting development, Borget hinted at the upcoming launch of Lion City at Token 2049 in Singapore. Lion City comprises 512 virtual land plots within the Sandbox metaverse and aims to celebrate Singapore’s rich culture through collaborations with global brands.
Expanding Ecosystem
Borget also highlighted The Sandbox’s recent successful virtual land sale in Turkey, where the metaverse boasts a thriving ecosystem. He shared, “The Sandbox ecosystem has grown to well over 400 brands, 700 partners worldwide, and 200 verified agencies actively building within Sandbox.”
A Glimpse of the Future
Despite the Western metaverse’s slowdown, Borget remains optimistic about new developments in the Web3 and virtual reality sector.
Dynamic NFTs: Uniqueness Redefined
One significant development is dynamic NFTs, allowing creators to modify metadata and alter the appearance and features of assets. Borget explained, “Every NFT must become truly unique, not just in appearance but in all metadata attributes.”
He drew a parallel with the real world, stating, “Consider this as if you were buying a tennis racket; is it the same whether it was used by Pete Sampras before or after purchase?”
Apple’s Augmented Reality Vision Pro Headset
Borget also hailed the release of Apple’s Augmented Reality Vision Pro headset as a monumental stride for the metaverse industry. This headset’s extended-reality capabilities enable digital assets in physical environments to appear as real as physical objects.
Borget elaborated, “Digital assets are now closer to you, seamlessly blending into your surroundings. This enhances interaction with digital content.”
Varied Paths to Web3 Adoption
Borget concluded by emphasizing that there’s no one-size-fits-all approach to fostering widespread Web3 adoption in the metaverse sector.
While some traditional gaming companies believe that Web3 adoption hinges on delivering the same level of quality as Web2 games, with blockchain as a mere feature, Borget offered a contrasting view. He suggested that metaverses like The Sandbox create unique user experiences distinct from traditional gaming, enriching the metaverse landscape in their own right.
In a metaverse divided by perceptions, Asia stands as a beacon of hope and opportunity, proving that the metaverse’s pulse beats strong, especially in the East. Sebastien Borget’s insights shed light on a thriving metaverse ecosystem, a testament to its enduring appeal and innovation on the global stage.