Failure to Recognize Digital Assets as Property Risks Excluding Billions in the Digital Age, Warns The Sandbox Co-Founder

The co-founder of The Sandbox, Sebastien Borget, recently spoke about the need to recognize digital assets, including cryptocurrencies and non-fungible tokens (NFTs), as legitimate property. In an interview with Cointelegraph during Blockchain Week Rome, Borget highlighted the growing population of "digital natives" and emphasized the importance of establishing value and recognition for digital assets in order to cater to their needs.

Borget pointed out that more than half of the world's population are now considered digital natives, individuals who have grown up with and are comfortable using digital devices. According to a report by the United Nations in December 2021, nearly 5 billion people, which is almost two-thirds of the world's population, were online. With such a significant portion of the global population being digitally connected, Borget argued that there needs to be a future where digital assets hold value and are acknowledged as proper property.

He further explained that as the digital economy continues to grow, the Metaverse could provide a new way for digital natives to connect and engage with one another. Borget urged governments to recognize the work and jobs that occur within the digital space, treating the digital economy as a real economy. He believed that the Metaverse has the potential to be a driving force for positive social impact, raising awareness and promoting inclusivity.

Borget also highlighted the opportunities that cryptocurrencies and digital assets can provide, particularly in countries with underdeveloped banking systems. By lowering the barriers to creating digital content and utilizing cryptocurrencies as a means of payment, individuals in these countries can participate in the digital economy more easily. Borget expressed his belief that artificial intelligence (AI) is a significant driving force that can empower creators and accelerate the idea generation process. While AI has the capability to assist in content creation, Borget emphasized the need for human involvement to ensure the quality and refinement of the content.

In his vision, Borget hoped to create a platform where people can fully express their talents and skills, particularly in the virtual world. He saw the virtual world as an opportunity to address mental health concerns and provide individuals with a space to explore their creativity and potential. Borget expressed enthusiasm for a platform that enables people to find their purpose and contribute positively to society. By fostering a community where new experiences, content, and ideas can flourish, Borget believed that the overall impact would be more positive than negative.

Borget's perspective on the recognition of digital assets as legitimate property aligns with the changing landscape of the global economy. As technology continues to advance and more people engage with digital platforms and assets, it becomes increasingly important to establish frameworks and regulations that acknowledge the value and significance of these assets. Borget's focus on the Metaverse and its potential for positive social impact highlights the transformative power of digital experiences and the opportunities they present for individuals worldwide.

Overall, Borget's views underscore the importance of embracing the digital economy and ensuring that it is inclusive, recognized, and valued. By providing platforms and opportunities for individuals to participate in the digital world, we can tap into the vast potential that exists within the growing population of digital natives and leverage their skills and talents to shape a better future.