Are science fiction and the future real? We are all heading towards the metaverse, regardless of whether we wish it to be so. The metaverse is a topic that has become incredibly popular recently. Even tech giants like Meta (NASDAQ:) have started to enter the metaverse.

Viewing it as the “next internet,” supporters have applauded the metaverse for its ability to enable play, work, travel, and keep people connected via virtual reality. Critics, on the other side, have raised ethical and security concerns about user data.

In an exclusive interview with DailyCoin, Sébastien Borget, co-founder and COO at community-driven, user-generated metaverse The Sandbox, shared why decentralization is crucial in protecting user data.

Virtual Worlds Data Ownership

Sandbox is a platform that allows users to create, manage, own, and profit from their virtual experiences via the blockchain. The platform aims to empower artists, creators, and players to build the platform they’ve always envisioned, providing them with the means to unleash their creativity and create a virtual world that is made and governed by the users.

To us, the digital metaverse refers to a parallel universe in which any individual could interact with and have more meaningful social experiences, just by creating a virtual avatar. Borget highlighted that it becomes their new identity.
Although concerns about data privacy have raised concern and there is still the tricky topic of metaverse ownership, the underlying technology offers the solution. Because the project is decentralized and uses blockchain technology, users can own all their assets and experience in-game. Borget claims that The Sandbox uses a complete decentralization approach, which allows users to own all their data.

“Users belong in the digital world made and managed by users. Users should get 100% of the rewards from this new digital nation.
Borget highlights

The Sandbox offers rewards to users for engaging in various activities, as well as playing the game. These rewards can be converted into tokens or NFT technology to hold their value and generate income.

NFTs offer a real chance to the metaverse. NFTs are valuable assets which can have a long-term value. They also create new employment opportunities and a service economy. Borget emphasized that the economy should be user-owned as well as player-owned. It must also benefit those who help to create and populate this world.”
Borget differentiates The Sandbox from the Web 2.0 period, which presented “closed” metaverses in which users don’t own their data. A closed metaverse environment is where the monetization tool focuses solely on the individual user.

Users are the owners of their identities, digital assets, data and cryptocurrency in a decentralized open metaverse. They can also transfer them at any moment.

A Metaverse Open to All

The question of regulation continues to be raised by authorities all over the globe as the metaverse grows. Metaverses have come under fire for their poor standing in the virtual worlds industry.

Meta remains involved in open discussions on data privacy, ethical practices and Meta’s metaverse.

The Web 2.0 companies track a lot user data, without consent. Borget explained that the old builders of this space aren’t necessarily interested in monetizing users and showing them ads. Instead, they are adopting a decentralized approach where the user has control over their data and can choose how to use it.”
The same principles do not apply to all metaverses, and Borget believes it shouldn’t be mixed up. The Sandbox adopts an open metaverse approach and aims to be an outstanding example in the industry.

Watch the full interview with Sébastien Borget on DailyCoin’s youtube channel:

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