The Metaverse Enables Us To Investigate Human Creativity, The Sandbox Founder Says
According to Sebastian Borget, COO of Sandbox, the notion of the Metaverse, in which humans can participate in a variety of activities in parallel digital worlds, is redefining how people think, interact, socialize, play and earn in the future.
Immersive worlds and online avatars are nothing new, as virtual planets have already been produced in games like Grand Theft Auto Online, Minecraft and Roblox.
Furthermore, with the ability to convert fiat money into cryptocurrencies, users would seamlessly transition between the natural world and the Metaverse.
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Customers can use cryptographic tokens created by companies that facilitate these virtual connections to purchase digital avatars and virtual land and host personal events similar to those held in the real world.
Individuals and companies can transact in the Metaverse, receive cryptocurrency payments, and exchange those earnings for real-world goods.
Portal to new experiences
Borget claims that the metaverse is a portal to new experiences limited only by the imagination of individuals.
He elaborated:
“Web 3.0 and the metaverse allow each of us to become an explorer of our own human imagination, creating new parallel universes in which we can choose our own experiences.”
Extending the Metaverse will increase the amount of wealth that can be unlocked, perhaps causing the global economy to expand rapidly.
Sandbox, the ETH-based metaverse
Sandbox is a decentralized NFT metaverse by definition, as it aspires to change the way people interact on the internet, allowing them to engage in ways that were previously only envisioned in science fiction.
The Metaverse is characterized as a “vast interconnected network of virtual worlds” by Rabindra Ratan, associate professor of media and information at Michigan State University.
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Decentralization refers to the fact that the Sandbox is not controlled by a single organization such as a company.
Everyone who participates, on the other hand, owns it. For Sandbox, its SAND token holders participate in the governance of the platform using a DAO framework and voting techniques.
Sandbox was created in 2011 by Arthur Madrid and Sébastien Borget. Ownership of LAND and NFT digital assets on the network is tracked through blockchain technology.
BTC total market cap at $730.19 billion on the daily chart | Source: TradingView.com
SAND Price Analysis
According to CoinMarketCap, SAND is currently trading at $2.82, down 4.50% from Thursday, with a comparable high of approximately $2.99 and lows of $2. .79.
Analysts predict the coin will reach $3.61 by the end of 2022, $5.49 by 2025 and $8.36 by 2027, before breaking its all-time high in 2027.
Web 3.0 and its importance
About that. Web 3.0 refers to a third-generation paradigm shift in online services, integrating artificial intelligence (AI) technologies and decentralization.
This equates to more user control and ownership over their online works and information, digital assets and online identities. Gavin Wood, one of the co-founders of Ethereum, launched the cryptocurrency in 2014.
moving on
Borget believes that platforms should prioritize ensuring that the creative process is pleasurable and rewarding, as well as responding to what people want.
Borget noted that the next step will be to allow creators to build and share experiences on their land.
He stated that people can expect the community to contribute more original content in the future.
Featured image from Aroged, chart from TradingView.com