The Sandbox co-founder explains how the metaverse has evolved for brands: Web Summit 2022
The building of the metaverse is an ongoing process. Sebastien Borget, the 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 — Cointelegraph (@Cointelegraph) November 3, 2022
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 investment or participation.
Borget said that often a big frustration of consumers that they can’t create alongside the big names they love. This is something that the metaverse allows as it progresses.
“It is not just about the influence and the reach of the celebrity or the brand. It's all about the content. The characters, stories, and locations that people are familiar with and want to interact with.”
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.
“Players themselves bring life by being present, by engaging in the land. That is also something that should be seen as valuable because they contribute to the growth of the network.”
Any evolution of a digital platform cannot be made without active users engaging with the new tools and experiences. User needs and complaints shape what the future of 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. — Cointelegraph (@Cointelegraph) November 3, 2022
Borget says 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.
“To me that's real engagement. That's something that many brands are looking at because they not only reach Gen Z, but they help define the future of themselves in 3D worlds.”
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.Source