The Sandbox co-founder explains how the metaverse has evolved for brands: Web Summit 2022 – Cointelegraph
According to a co-founder of The Sandbox, the future of the metaverse is in a state of evolution, with both brands and users as important catalysts of growth.
The building of the metaverse is an ongoing process. Sebastien Borget, co-founder of The Sandbox metaverse, even called the future of the metaverse evolving.
Speaking to Cointelegraph’s Gareth Jenkinson at the Web Summit tech conference in Portugal on Nov. 3, Borget said that what we see today in The Sandbox is “the natural evolution of things” after almost a decade of work. The evolution of the metaverse, particularly the way brands engage with users, has accelerated at rapid speed.
It’s this fast-paced development that has investors pouring billions of dollars into metaverse projects across the space.
“We’re now seeing in The Sandbox with more than 200 studios around the world that are building on a daily basis,” Borget said in reference to the new tools being released for creators
A photo dump from @WebSummit
Toto Wolff, @KristinaLCorner, @IOHK_Charles, @borgetsebastien, @gazza_jenks
: @JoseValBal pic.twitter.com/nfZ9qqSNAw
Many of these studios include iconic, mainstream brands that have found value in engaging with users on a digital plane. Household names such as Gucci, The Walking Dead series, Katy Perry, Snoop Dogg and more have joined in metaverse investments or participation.
Borget said that often, a big frustration of consumers is that they can’t create alongside the big names they love. This is something that metaverse projects allow as they progress.
Aside from the value of top-tier brands and big-name celebrities popping up in digital words, Borget said something to highlight is the actual users:
Any evolution of a digital platform cannot be made without active users engaging with the new tools and experiences. User needs and complaints shape how a given online space will look like.
The fireside chat started!
And would you look at that, there are some landowners of @TheSandboxGame present in the crowd. pic.twitter.com/EhRDiiZtlm
Borget said engagement with a platform is more than just liking, sharing or retweeting. Rather, as the metaverse advances and users interact in digital spaces, the engagement is created together, user and brand side by side.
Despite recent rumors surrounding low metaverse engagement, investors and even governments are bullish on building out the digital universe. Recently, a city in Japan decided to turn to metaverse schooling to help with issues of student absence in the area.
In Norway, a local government agency dealing with taxes decided to open its first metaverse branch to cater to the tech-savviness of younger digital native generations.
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