The Sandbox co-founder calls for digital assets to be treated as property

Digital assets, including non-fungible tokens, should be recognised as ‘legal property’, according to the co-founder of the metaverse The Sandbox Sebastien Borget. The report comes from Cointelegraph.

Speaking at Blockchain Week in Rome, he said that every year the number of people who grew up with digital devices is rising. In his view, more than half of the world’s population can already be described as digital natives.

“We must build for them a future in which digital assets have value and are recognised as private property,” Borget explained.

He added that metaverse is creating a new way for people to interact. Therefore, governments should ‘value the work done and recognise’ the technology, and treat ‘the digital economy as real’.

According to the co-founder of The Sandbox, digital worlds will become ‘a driving force for positive impact on people, their greater awareness and inclusivity’.

Borget argues that removing the barrier to creating Web3 content opens up new possibilities, and cryptocurrencies could provide access to payments in countries where ‘the banking system is perhaps not as well developed’.

He believes that, thanks to the metaverse, people will be able to develop their skills more effectively and to express their individuality.

Earlier in February, the creator of the term ‘metaverse’ — the science fiction writer Neal Stephenson — said about the future of virtual reality. He doubted the prospects of the technology until people themselves decide to live in a digital world.