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Founder of The Sandbox Says NFTs Should Count as Property

Gezim Osmani by Gezim Osmani
19 May 2023
in Economy
Reading Time: 2 mins read
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Founder-of-The-Sandbox-Says-NFTs-Should-Count-as-Property

Sebastien Borget, speaking at Blockchain Week Rome, said that with the rising popularity of cryptocurrencies and interest in digital technologies the moment has come to recognize these digital assets as properties.

The Popularization of The Internet Also Improves The Usage Areas Of Metaverse.

More and more individuals are entering adulthood having always had access to some kind of digital device. According to Borje “digital natives” already make up more than half of the world’s population. As an example the businessman referenced December 2021 United Nations data showing that nearly 5 billion people, or almost two-thirds of the world’s population had access to the Internet. These individuals have the financial and time resources to invest in digital assets and the metaverse. Borje said that society must work toward a day when digital assets are recognized as legitimate property.

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According to the Sandbox’s co-founder using cryptocurrency may provide consumers in areas without a robust banking infrastructure more payment choices. Borje described the metaverses as a place where individuals with an interest in cutting-edge technology may meet and talk to one another. 

Since metaverses may be utilized for both leisure and labor the businessman said that the digital economy was already a reality. Metaverses have the potential to become a venue for social influence and awareness raising in the face of global events such as wars and increasing costs.

Founder-of-The-Sandbox-Says-NFTs-Should-Count-as-Property-2

On the other hand, Regulators Are Worried About Children’s Safety

Sebastian Borget thinks that people’s intrinsic abilities and skills may be better expressed in the metaverses where they can be developed more rapidly and with less effort. It might be fresh material and novel concepts in the fantasy genre. Therefore, in Borget’s opinion the benefits of MMORPGs outweigh the drawbacks. 

Members of the World Economic Forum (WEF) voiced worry over children’s safety in the metaverse last year. In March 2023, US lawmakers requested that Meta restrict users under the age of 17 from using its Horizon Worlds metaverse.

 

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Gezim Osmani

Gezim Osmani

Senior Journalist, Content editor Hi there! My name is Gezim, and I'm a Senior Journalist covering crypto and fintech. I have a passion for technology and finance, and I've spent years following the latest trends in the industry. My goal is to make complex financial concepts accessible to my readers. I strive to provide insightful analysis and explain the latest developments in the world of crypto and fintech in a way that is easy to understand. I believe that knowledge is power, and I want to empower my readers to make informed decisions about their finances. In addition to my professional pursuits, I also love to take photos. I find that photography allows me to capture moments and emotions in a way that words cannot. Whether I'm traveling to a new city or exploring the great outdoors, I always have my camera with me. Photography is a way for me to express my creativity and connect with the world around me. When I'm not working or taking photos, I also enjoy hiking and spending time in nature. There's something about being outside and surrounded by natural beauty that brings me peace and clarity. I also love to read, and I'm always seeking out new books and articles to expand my knowledge. Overall, I'm driven by a desire to help people understand the complex world of finance and technology. Through my writing, photography, and other pursuits, I'm committed to creating content that inspires and informs my readers. I believe that everyone has the potential to achieve financial success, and I'm here to help them along the way. I would love to connect and see how we can work together to shape the future of crypto anf fintech. Let's connect and see where our shared interests and expertise can take us!

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