While big tech giants aim to enter the nascent market of the Metaverse, Sandbox co-founder Sebastien Borget does not seem interested in this collaboration. He wants to save the Metaverse from these tech giants.
Large technology companies could threaten the decentralization of the Metaverse as their business model goes against it. The co-founder also stated that “it is not about the competition, but creating an open, and decentralized future. Tech giants have a monopoly over Web 2.0 technologies, something for Web 3 technologies like crypto & Metaverse, which they can break.
The Borget explained that the users cater to something truly fun, but not by them. Meta rebranded itself as Meta to acknowledge its focus on the virtual world. Its focus has changed, and it has moved to become the leading tech giant in the nascent virtual reality metaverse. After RTFKT’s acquisition, Nike has created the metaverse game. A $93 million funding round was closed by the Sandbox. SoftBank, a Japanese financial giant, led it. The first metaverse game, where people can buy virtual land, was launched. Three million dollars back the three million dollars Virtual Land Sale. Metaverse projects combine the best of crypto and virtual reality-based gaming ecosystem, making them among the most sought after projects in the crypto world.