Digital Assets Must Be Valued as ‘Eligible Property’ — Sandbox Co-founder

According to the co-founder of The Sandbox, digital assets such as cryptocurrencies and non-fungible tokens (NFT) should be recognized as legal property, especially as more of the world’s population goes digital.

During Blockchain Week Rome last week, Sebastien Borget told Cointelegraph Editor-in-Chief Kristina Lucrezia Cornèr that so-called “digital natives” – those who grew up with and are increasingly confident in digital gadgets – are on the rise.

“More than half of the world’s population is now a digital native,” explains Borget. In December 2021, the United Nations announced that around two-thirds of the world’s population, or nearly 5 billion people, are online.

“We need to create a future for them where if they spend more time and money on digital assets, those assets need to have value and be recognized as proper property.” He went on to say that the Metaverse might provide new ways for digital natives to connect, and that governments should “recognize the work (and) recognize the work” going on in the area, and start considering the “digital economy as the real economy.”

While world events such as the Russo-Ukrainian war and rising prices pose threats to global stability, Borget believes the Metaverse can become “a driving force for positive impact, social impact, more awareness, and inclusivity.”

Borget believes that lowering the barrier to creating digital materials offers new options for many people, and that cryptocurrencies can provide payment access in areas where “the banking system may not have developed yet.”

According to Borget, artificial intelligence (AI) is a “driving force” that can empower creators and speed up the idea generation process. “All you can think about right now is a text prompt that you can render and visualize.” It used to be days,” he explained.

Borget emphasized that it is not yet to the point where he can produce the material without “some human work” to speed it up. Borget stated that he intended to build a platform where people could best express their innate talents and skills, which can thrive best in “cyberspaces”, such as mental health assistance.“Being a platform that allows people to discover why for themselves is fantastic,” he continued.

“You create a world where you see new experiences, new content, and new ideas, and the sum always outweighs the positives.”