The founder of Sandbox discusses the development prospects of Web3 games and the Metaverse with industry leaders.

On January 26, 2024, an industry sharing session on the integration and development of Metaverse and Web3 gaming technology was held. Sebastien, co-founder of The Sandbox, and Simon Li, Executive Vice President of ABGA and founder of Chain Capital, participated in an in-depth discussion.

Simon Li introduced the ICC Camp entrepreneurship camp. ICC Camp, short for Imagine Creation Combintor Camp, aims to bring more imagination and creativity to the Web3 gaming sector. This is a 6-month acceleration program that invites a group of industry professionals to provide guidance. The lineup of mentors is impressive, including experts from leading venture capital, renowned gaming projects, technology companies, and other fields. ICC Camp collaborates with multiple institutions to provide comprehensive support for participating projects.

For Web3 game products that can attract capital favor, Simon believes they should possess the following characteristics: innovative gameplay and high-quality experience, a strong community and ecosystem, a healthy token economy, and clear profitability. He suggests that when attracting Web2 players, the focus should be on game experience, simplifying the onboarding process, and emphasizing player ownership and earnings.

Sebastien, as the CEO and co-founder of Sandbox, introduced that the platform has developed into a decentralized virtual world with over 5 million users and more than 400 brand partners. He shared the challenges faced during the entrepreneurial process, such as convincing early investors and educating on technology, emphasizing the importance of focusing on the right priorities.

Sebastien believes that blockchain technology plays a key role in the Metaverse, ensuring users have digital identities, supporting new forms of interaction and monetization, and achieving decentralized governance. He summarizes the three components of a successful Metaverse as: technology and products, content production, and ecosystem development.

Regarding the economic model of Web3 games, Sebastien stated that the industry is rapidly iterating different business models. He looks forward to new games bringing innovation and driving the growth of the entire ecosystem. On immersive technology, he believes that the Metaverse will gradually develop, which involves not only graphics or VR but, more importantly, a seamless experience across devices and platforms.

Sebastien suggests that developers who want to use blockchain technology should first clarify their motivations, focus on the product itself, and consider user experience. He also introduced various ways Sandbox collaborates with other Web3 games, including NFT interoperability, creative platform partnerships, and more.

Overall, this sharing session explored the development prospects, challenges faced, and future opportunities of Web3 games and the Metaverse, providing valuable insights for industry practitioners.