The Sandbox co-founder discusses the future of the Metaverse and Web3 gaming with the founder of Chain Capital.

On January 26, 2024, an industry sharing session discussing the integration and development of the Metaverse and Web3 gaming technology was held at ICC Camp. Sebastien, co-founder of The Sandbox, and Simon Li, Executive Vice President of ABGA and founder of Chain Capital, were invited to participate and share their insights on industry development.

Simon Li introduced the background and objectives of the ICC Camp. As a six-month acceleration program, the ICC Camp brings together industry professionals to mentor Web3 gaming startups. The mentor lineup includes experts from leading venture capital firms, well-known gaming projects, and other Web3 fields. The ICC Camp aims to provide comprehensive support for startups, including learning journeys, scholarships, public chain grants, and other resources.

Regarding how to attract capital favor, Simon believes that Web3 game products should have innovative gameplay, high-quality experiences, a strong community ecosystem, a healthy token economy, and a clear profit model. He emphasizes that attracting Web2 players to Web3 should focus on the gaming experience rather than tokens, simplify the onboarding process, and highlight the advantages of true digital ownership.

Sebastien shared the development history of The Sandbox, emphasizing the importance of blockchain technology in building the Metaverse. He believes that blockchain not only ensures users have digital identities and asset ownership but also supports brands and creators in attracting audiences and developing monetization strategies in new ways. Furthermore, blockchain technology plays a significant role in the governance of the Metaverse.

When discussing the success factors of Metaverse games, Sebastien highlighted three key aspects: technology and products, content, and ecosystem development. He believes that the combination of these factors will create the necessary momentum for the success of the Metaverse.

Regarding the economic model of Web3 games, Sebastien stated that the industry is rapidly iterating different business models. He looks forward to seeing more innovation and believes that successful Web3 games will drive the growth of the entire ecosystem.

Regarding immersive technologies such as VR and AR, Sebastien believes that the Metaverse will gradually develop, not only concerning graphics or VR, but more importantly how to access it through different devices and seamlessly move across multiple platforms. He emphasizes that building a vast virtual world requires a lot of content, and lowering the production threshold is very important.

Sebastien also shared The Sandbox's experiences on how to collaborate with other Web3 games, including NFT interoperability, creative platform partnerships, and exploring new monetization models.

Finally, the host introduced the mission and resource support of the ICC Camp, encouraging Web3 game entrepreneurs to actively sign up for participation.