Discussing the metaverse and The Sandbox when the world speculates the metaverse may not survive?

In 2022, people are hearing a lot about metaverse, a term that has entered the mainstream of the technology world. The trend quietens down, or is the metaverse about to disappear?

Find out with Sebastien Borget, COO & Co-founder of The Sandbox, and Augie Ilag, Investment Partner & Head of Asia of CMT Digital from REDeFiNE TOMORROW 2023, on the topic “Crossing the Chasm: the Road to Mass Adoption for Metaverse,” a conversation that will introduce everyone to The Sandbox, highlighting the issues and opportunities of the Metaverse world.

The origin and path of The Sandbox

Borget said The Sandbox began in 2011 as a smartphone game that required players to become creators, creating 2D worlds and sharing their work with other players. Borget saw that smartphones were cutting-edge during that time, something The Sandbox wanted to experiment with. At the time, over 40 million people had installed The Sandbox games.

But later, many famous and skilled creators disappeared from the platform. The reason was that these creators wanted more returns and recognition from viewers in a different way. The Sandbox could not answer these questions. This was due to the insufficient income generated by Google Play and Play Store downloads.

In 2017, when blockchain and NFT technology came into play, The Sandbox had a chance to return, offering the NFTs Game, the first of its kind to combine content with NFTs, allowing creators to create and own digital assets. They can also earn income from those assets. As the Sandbox has evolved into a 3D multiplayer game format, it is a decentralized world where everyone can create content and design their own unique experience.

Additionally, The Sandbox is a no-code platform that allows people to create and develop their own space to earn income, which can create and store up to 95% of income on the platform. Now, there are more than 500 groups called landowners on The Sandbox.

Currently, there are more than 5 million wallet users on The Sandbox, and they are partners with more than 400 famous brands worldwide, including entertainment media, music, fashion, sports, etc. In the future, self-publishing tools will be launched so that landowners and creators can publish themselves immediately.

What is the Metaverse in the definition of The Sandbox?

As a representative from The Sandbox, Borget declared, “The Sandbox is part of the Metaverse.” He continued by defining the Metaverse as a world or platform that can be accessed through avatars or characters in that world. According to Borget, the Metaverse is a realistic world where assets (such as clothes, land and houses) can be created and used on the same platform and across platforms without restrictions or need for permission.

Additionally, Borget believes that the Metaverse is neither the same as the real world nor the Web2. He bases this on the fact that on Web2, content cannot be used/purchased from one location in another location, brought outside the platform, or sold on eBay.

Furthermore, the Metaverse is a decentralized world that is transparent and trustworthy. It is designed with the idea of Proof of Authorship, Proof of Ownership, Proof of Digital Scarcity and also viewing the History of Transactions that have occurred between users in exchanging assets (which in 2022 will total over 40 billion NFTs transactions).

These things make the Metaverse a digital economy that creates real jobs and services.

Is the Metaverse fading away?

Recent trends show that the metaverse is losing popularity or disappearing from being a trend in society. According to Borget’s side, “The metaverse is still far from dead.” He views it as a time when the trend has shifted. Technology and social media are constantly changing. However, the metaverse world, like The Sandbox itself, remains a space where new users come to create new experiences all the time.

Although some spaces have yet to be fully launched and some are currently undergoing testing and development, users are ready to learn. In the past year, over 1 million active users have used The Sandbox in different ways, including playing games, chatting, etc.

As for The Sandbox’s ecosystem, it is continuously expanding, with more creators joining from around the world. Every week, major brands will be part of the platform, which will use it as a space to create new media and marketing strategies.

For the Sandbox, Thailand is another thriving market. Currently, creators, studios, and brands are joining in and creating projects based on local Thai culture to spice up the metaverse world.

Ultimately, Borget asserts that the metaverse requires time to expand and accommodate more users.

How do we keep people on the Metaverse longer?

Borget views the metaverse as a combination of product and content, so we use these two to attract users.

For The Sandbox, our experience of over 11 years has made us learn and see that we must design tools (based on the recommendations and needs of creators), which will be tools that creators can use to create new works and experiences.

Our most recent accomplishment, of which we are proud, is bringing together over 400 well-known brands from around the world to create content that will both attract users from their region and attract global users to learn and create experiences from what those brands have to offer.

In addition, Borget said, the tools we have created will also help generate income for players, for example, by designing areas for players to explore and collect points. These are to be exchanged for rewards or assets, and these rewards are considered a good driver for attracting more users.

Borget also views that a significant change in the metaverse will be when user-generated content (UGC) becomes a huge component driving the metaverse. It will become a big shift in the world.

The Sandbox’s product release plan

“The Sandbox is a space that listens to creators and communities first,” Borget remarked, explaining that The Sandbox will listen to feedback and use it to improve or create tools that users and creators want, such as adding VFX, Audio Streaming functions, as well as the development of Multiplayer Gameplay. We are developing updated rules for the game to be more complex.

There is also an ongoing project with local brands in 12 countries worldwide to build global awareness, bringing the culture of various localities to the world, such as Thailand’s Ramadan Festival and Songkran Festival organized by The Sandbox, etc. Borget sees that this project will help develop and drive content diversity. 

Borget continued by saying that The Sandbox is testing Generative AI that will be used to enable creators to create work faster and help drive ideas into shape more quickly with just one click. This tool will also help bring more creators to the platform.

Perspectives on AR and VR

Borget stated that he previously viewed AR and VR as not being the most satisfying experiences for The Sandbox’s users. AR and VR still have limitations in terms of functionality. Not all users have access to this technology, and The Sandbox is not yet available for use with AR and VR.

But now we found that many things on The Sandbox are compatible with this technology. Borget views this as a new way for users to access and exchange experiences with NFTs, especially with new Apple products that are expected to launch soon, such as Vision Pro, which can be said to be a new technology that will change the VR world and the real world together. It will allow users to access content in a different format without being cut off from the outside world while using it, unlike other VR.

Message to Founders and Investors

Before concluding the conversation, Borget shared an interesting example project to serve as a guideline for founders interested in this area and to emphasize to investors the benefits and advantages of being on a platform like The Sandbox.

Borget stated that The Sandbox is a space that allows users to access NFTs or digital assets from brands we love (such as The Smurfs, Rabbits, and The Walking Dead). These assets can be stored or placed on the property, and users can use them to create new stories for these assets or invite friends or anyone else to join in on the fun. This is something that cannot be done anywhere else.

At the same time, brands can create new awareness to increase engagement and customer base. For example, Warner Music has created a theme park where users will hear new singles from the brand when they enter. The theme will change according to festivals like Valentine’s Day, Halloween, etc.

In addition, The Sandbox is also a medium for organizations, agencies, or individuals who want to create awareness for society, such as Amnesty International, which came to open a space to support legal abortion. The space on The Sandbox also opens for the design of a protest avatar to create social impact in the metaverse world.

Watch the entire thing on YouTube: Crossing the Chasm: The Road to Mass Adoption for Metaverse

This article summarizes the virtual conference held in May 2023.