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Friday, May 26, 2023

Sandbox Co-founder Keen On Protecting Metaverses Against Big Tech

Sebastian Borget, the co-founder of The Sandbox, now wants to defend the metaverse from a host of Big Tech giants that have been aiming to make an entry into the nascent market. In an interview held recently, Borget stated that he wasn’t very keen on Big Technological companies such as Meta bringing in the metaverse.

He then explained further that most of the technology companies could definitely threaten the decentralisation of the business model as they have seen fit throughout.

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Sandbox Is Worrying About The Future

The co-founder of Sandbox then further added that it was not about the competition with the other companies, rather being productive with an open, decentralized future. Most of the tech giants seem to have a big monopoly over Web 2.0, something that technologies such as Web 3.0, such as the crypto and metaverse have been moving in to break.

Borget explained that they don’t believe that the companies will be able to build something truly innovative that is catered to the users which has made them extremely focused on their key business model and how to satisfy users who have their own asset, and who own the governance of their own decentralized platform. 

The record of Facebook with user data mismanagement has created major distrust among the masses and the business model of the company worries the co-founder of The Sandbox. 

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The Sandbox recently closed a $93-million funding round which was led by SoftBank- a Japanese banking giant. It also led to the launch of the first metaverse game where people would be purchasing virtual land and the game has already garnered several headlines. The projects of Metaverse combine the best of crypto and virtual reality-based gaming ecosystem. 

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