Advertisement
Big Tech threatens open, blockchain-based metaverse, says The Sandbox founder
- The Sandbox co-founder Sebastien Borget says a decentralised metaverse is his biggest consideration and must be defended against Big Tech
- The blockchain-based video game platform has gained widespread attention for its NFT virtual land sales, with some plots going for millions of dollars
Reading Time:3 minutes
Why you can trust SCMP
1
Big Tech firms could threaten an open metaverse, as their business models go against a decentralised internet where users own their digital assets, the co-founder of the blockchain-based video gaming platform The Sandbox said.
Advertisement
The Sandbox chief operating officer Sebastien Borget said his primary consideration right now is how to defend the metaverse against forays by Big Tech firms like Meta, the owner of Facebook, which recently changed its name to reflect commitment to the new trend. Chinese tech giants like Tencent Holdings and NetEase have also sought to capitalise on the trend.
It is more than just competition, the executive said, because the metaverse is about bringing down the old guard of the internet using decentralised technologies like blockchain and cryptocurrencies.
“Our goal is to build an open metaverse that can stand against what we call competition that is the Web 2.0 metaverses”, Borget said.
The Sandbox, which launched its first metaverse alpha test in November, has quickly become one of the most talked-about start-ups in the industry.
Advertisement
Advertisement