“By the end of the year, the goal is that publishing will be open … so anyone can launch an experience,” says Borget. The platform is currently heading into what it calls “Season 3”, which it hopes will consist of over 100 different "experiences" – most of which will be designed, developed, and run by the community members and brands that have made it their home. Worlds like The Sandbox will, eventually, be almost entirely built and managed by the users. Eventually, they could form the basis of regulation and government in online worlds, with all stakeholders – be that owners of cryptocurrencies like SAND (the Sandbox token), landowners, or just simply users – entitled to have their say in how a metaverse environment is run.īorget says, "The goal and aim of The Sandbox is that within three to five years, it will be fully decentralized, meaning players will own 100 percent of the land on the map … us, the platform, will just be minor actors, minor ownership … meaning we can have in place the DAO where the value stakeholders of the platform – landowners, players, SANDowners – can participate and engage with the key decisions that will make the world evolve.” These are collectives that are governed by rules set down in smart contracts and enshrined in blockchains. "Here, as you play, all the content you collect in-game … as you complete quests … you earn digital content … NFTs … you can choose to hold it, use it in another game, or sell it in a marketplace … people can earn income through their active engagement.”ĭecentralized Autonomous Organizations (DAOs) are a concept that has emerged hand-in-hand with the development of web3 ecosystems. “You don't need to be the best performing player in the world like in eSports … where only the top one percent of players will be successful and make money. "Being a player can be a job," he tells me. The most expensive piece of land sold so far went for $4.5 million.Īs well as living in the metaverse and building houses there, Borget believes that in the future, we will even have jobs and earn money there – jobs that do not yet exist in the "real world." Larger plots and those in proximity to "prestigious" neighborhoods (such as Snoop's mansion or the Walking Dead land) fetch a premium. The smallest plots that are available, measuring roughly 100 meters by 100 meters, currently trade for around $1,000, but their value on the resale market varies dramatically. The virtual world is split up into thousands of parcels of land, of which around 70 percent have already been sold to 21,000 landowners. Just as is the case in the real world, the amount of land available in The Sandbox is limited. These are blockchain-based tokens that can be assigned to assets – for example, an avatar, an item of virtual clothing, or even a virtual plot of land or house – to give them the quality of uniqueness due to the fact that no two NFTs are identical. He refers to this as "interoperability of assets." This will be achieved in The Sandbox, and possibly other metaverse platforms, through the use of non-fungible tokens (NFTs). “What’s important is this ability to move from one to another while … keeping all their content they create in one and using it in others.” “There will be millions of virtual worlds, places where users can take their avatars,” Borget continues. True metaverse platforms, however, will bring all of these elements together and allow users to bring their digital identity with them as they move between activities and environments. All of these “traditional” digital environments contain elements that will undoubtedly be present in the metaverse, such as the ability to socialize, play and learn collaboratively. The idea of identity is central to the persistent nature of virtual worlds and is a big part of what makes them different from, for example, existing social media sites, video games, online chatrooms, or online courses.
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