Crypto Should be Valued as ‘Proper Property,’ Says Sandbox Co-Founder

The founder of The Sandbox, Sebastien Borget, stated that digital assets like crypto and NFTs need to be considered as

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According to the co-founder of The Sandbox, digital assets such as crypto and nonfungible tokens should be officially recognized as legal property, specifically since a greater percentage of the world’s population embraces electronic means.

A “Digital Native” Population

Sebastien Borget, speaking at Blockchain Week Rome last week, stated that the number of “digital natives” individuals who grew up with a gradually increasing faith in digital assets and crypto is expanding. 

According to him, “more than half of the world’s population is now a digital native.” In the month of December of 2021, the United Nations announced that approximately two thirds of the world’s population, or nearly five billion people, were online. He added: 

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“We have to build a future for them where if they spend more time and more money on digital assets, those should have value and should be recognized as proper property.”

Crypto and Metaverse to Drive Future Economies

While international events that include the clash between Russia and Ukraine and rising prices pose threats to stability around the world, Borget believes crypto and the metaverse may be “a driving force for positive impact, social impact, more awareness, and inclusivity.”

He claimed that the metaverse might provide a new avenue for digital natives to communicate, and suggested that governments should “value the work [and] recognise the jobs” that occur in this area, as well as begin to consider “the digital economy as a real economy.”

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AI to Empower the Crypto Industry

Borget stated that he intends to build a platform where individuals can most effectively demonstrate their inherent abilities and skills that might appear in “the virtual world,” such as mental health assistance. 

“Being a platform that offers this possibility for people to find their own reason is great,” said the entrepreneur. Furthermore, he considers artificial intelligence to be one of the “driving forces” that may empower artists and expedite the idea-generation process.

Michael Demissie, the Head of Digital Assets and Advanced Solutions at BNY Mellon, also voiced his trust in the digital asset business in February.

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