There is a map of the metaverse.
There is a place called The Sandbox.
The co- founder of The Sandbox warned that the metaverse, where users have a say in how a platform is run, is at risk from Big Tech companies.
The chief operating officer of the metaverse platform told The South China Morning Post that his main consideration is how to defend the foundation of an open metaverse from companies like Meta. Meta recently changed its name to reflect its focus on building a virtual world in which more people are working and playing.
Borget said the metaverse is about leaving the old guard of the internet behind through the use of new technologies.
Borget said that their goal is to build an open metaverse that can stand against what they call Web 2.0 metaverses.
The next iteration of the internet is being capitalized on by Chinese tech giants.
Big Tech firms are seen as enemies by many people in the community.
"We don't think those companies can build something fun that caters to users because they've been so focused on their key business model and how to satisfy shareholders rather than satisfy users who own the asset, who own the governance of their own platform," Borget said.
The virtual world and digital assets that can be created can be monetized.
The platform is on track to be governed by a DAO in 2022, through which users can propose changes and vote on them. The "sand" coin, which has risen by more than 9000% over the past year, will be used as a voting mechanism.
The media spotlight has been thrust on the sites recently due to an increase in metaverse deals. A virtual land developer bought a large group of parcels on The Sandbox from Atari SA in a record-setting $4.3 million sale last month.
In a recent interview with Insider, Borget said the boom in virtual land deals has bought total sales at The Sandbox to $211 million.
Business Insider has an original article.
