- The Sandbox reports significant growth in Asia, with 50% of its business coming from the region.
- Hong Kong and Korea emerge as top metaverse markets in Asia, followed closely by Japan.
- Apple’s Augmented Reality Vision Pro headset is hailed as a major milestone.
The metaverse may appear stagnant in the eyes of users residing in the United States, but according to Sebastien Borget, co-founder and chief operating officer of The Sandbox, the industry is flourishing across Asia. Borget revealed that in the past year, approximately 50% of The Sandbox’s business has emanated from various Asian countries.
Borget emphasized, “If you don’t focus on Asia, you will think the metaverse is dead from the North American and Western perspective.” He noted that Hong Kong and Korea are the leading markets in the region, closely followed by Japan.
During the Asian Blockchain Gaming Alliance’s Web3 Summit in Singapore on September 12, Borget announced the impending launch of Lion City in the Sandbox metaverse. Lion City comprises 512 virtual land plots and aims to showcase Singapore’s rich culture through collaborations with global brands.
Furthermore, Borget disclosed that The Sandbox recently concluded a significant virtual land sale in Turkey, a region he described as having a “big ecosystem.” The Sandbox ecosystem has grown substantially, boasting over 400 brands, 700 partners worldwide, and 200 verified agencies actively contributing to its development.
Despite a slowdown in metaverse adoption in the Western world, Borget remains optimistic about new developments in the Web3 and virtual reality sectors. He highlighted the introduction of dynamic NFTs, allowing creators to modify metadata and alter the appearance and features of their assets, making each NFT truly unique.
Borget drew a parallel with the real world, suggesting that digital assets should be as unique as tangible items with their own history and characteristics.
Additionally, Borget hailed Apple’s release of the Augmented Reality Vision Pro headset as a significant milestone for the metaverse industry. He praised its extended-reality features, enabling digital assets to seamlessly blend into physical environments, enhancing user interaction and immersion.
Borget emphasized that there is no one-size-fits-all approach to driving widespread Web3 adoption in the metaverse sector. While some in the traditional gaming industry believe that integrating blockchain features into high-quality games will lead the way, metaverses like The Sandbox offer unique and distinct experiences that diverge from the conventional gaming landscape.