As Bitcoin surges and new platforms emerge one after another, the Web3 industry remains an unpredictable frontier. At Pacific Meta Research, we aim to deliver the latest trends and genuine insights through interviews with the industry’s top leaders.

In this inaugural installment, we had the opportunity to speak with Sebastien Borget, Co-Founder and COO of The Sandbox, an immersive metaverse platform in which users play, create, and monetize unique experiences alongside their favorite brands, IPs, and celebrities across gaming, entertainment, music, art, and more.

Is the term “metaverse” just a passing fad? How does Borget envision its answer? And what does he see as the future of Japan, Web3, and the metaverse? We delve into these questions through his perspective.

Borget, deeply enamored with Japanese culture, shares many relatable traits with us. For example, his use of “a Casio watch and a Porter bag” reveals his profound respect for Japan’s meticulous craftsmanship. What possibilities does he envision for Japan and the metaverse?

Interviewer: Kousei Sho, Co-Founder and Head of Business Development, Pacific Meta Inc.

Note: This interview was conducted on November 23, 2024.

Table of Contents

Is the Metaverse really “over”?

— Do you think the concept of metaverse still has momentum?

Mr. Borget:

Absolutely. We are working to prove it. We may hear less about the metaverse, but that doesn’t mean it’s in decline; companies like Fortnite and Roblox have announced their continued focus on it.

We are also actively supporting creators and updating our products frequently. We have invited more brands to join us for our upcoming Alpha Season 4 release.

Our metaverse is not a one-time thing. What we are creating is a space that provides a realistic experience.

For example, The Sandbox allows users to create their own content and create deeper value. A metaverse is just a tool to realize this potential. Our mission is to provide this virtual space as a place for interaction, creation, profitable activities, and education, and we are steadily realizing this mission.

We may not be able to match the 100+ million users that Fortnite or Roblox have, but 500,000 players in The Sandbox is a very significant achievement for us.

Steady growth for The Sandbox despite difficult market conditions / 2025 What attitude is required of the Web3gaming industry?

— How was 2024 for The Sandbox?

Mr. Borget:

It was a great year for The Sandbox. Our newly launched Season 4 reached a record high of 500,000 unique players. Updates have been well received, land sales have been good, and tokens have been stable. In recent years, many projects have failed to secure funding or investors, forcing cutbacks and project termination. Despite this, The Sandbox’s user base has grown to 6 million wallets.

— What is the current state of the Web3gaming industry and what is your outlook for the future?

Mr. Borget:

While the industry as a whole has grown this year, each project has its own gaming ecosystem and is independent and disorganized. Even if a particular project gains millions of users, it has not led to an increase in value elsewhere. New projects will now need to rebuild their communities and gather support once again.

— We have seen the price of Bitcoin and other currencies rise recently. If a bull run were to occur, how do you think it would affect The Sandbox and the web3gaming industry?

Mr. Borget:

At this point, I think it’s all about attention. Bitcoin’s surge may once again attract the attention of the retail sector.

It remains to be seen if the inflow of money into Bitcoin will generate enough profit to allocate some of it to the NFT and entertainment sectors. Earlier this year, exchange-traded funds (ETFs) were launched, attracting institutional money. However, that money was primarily focused on bitcoin and did not flow into token purchases, NFT games, or Web3 games. If the price of Bitcoin, the global economy, and inflation stabilize in the future, the general public may return to the NFT world to enjoy and spend on culture, entertainment, and games.

Surprising partnerships are making waves! Mr. Borget sees potential in Japan

—  Your company is also involved in some interesting initiatives related to regional development in Japan, such as the collaboration with JR Kyushu, isn’t that right?

Mr. Borget:：

Yes, the main objective of this project was to promote tourism to Kyushu. JR Kyushu created “Kyushu Railway LAND” on The Sandbox, offering users an opportunity to explore and enjoy the charm of Kyushu area in the digital realm. This initiative not only establishes new connections with customers online but also holds the potential to expand JR Kyushu’s fan base and promote the revitalization of tourism across Kyushu through future integration with real-world events.Other examples include the launch of a game jam that recreates Tokyo landmarks and a partnership with SHIBUYA109. These efforts are pushing Japanese culture abroad.

— How do you see the relationship between Japanese culture and the Metaverse?

Mr. Borget:

Japan has the ability to spread its culture to the world. From food, animation, manga to tourism, Japan was the first country to push its culture out into the world. There are powerful markets around the world that import these cultures and even re-create them, like cosplay.

The beauty of Japanese culture is its ability to take something familiar, like trains for example, and transform it into transmedia IP. Japan remains a world leader in the creation of stories, content, and characters.

And the metaverse is a great way to play with those characters and create your own stories.

— What are some of the characteristics of Japanese users of the Metaverse?

Mr. Borget:

As a country where the high speed Internet was first introduced and where many world-class games were created, Japan is unique in that it has already developed a culture of enjoying digital content in a virtual space.

Also, the culture of collectibles, arcade games, and “collecting” is deeply rooted in Japan. There are various niche areas. For example, some people collect figures of their favorite anime, while there is a market that prefers figures with few costumes. This kind of figure market with “human-like characteristics” is unique to Japan.

Another thing to note is that Japanese collectors are very passionate about their brands” and spend a lot of money on their collections. However, they rarely resell their collections.

The data from The Sandbox showed that many users hold on to their avatars and land for long periods of time. At a recent boot camp we conducted, we had participants who had owned their property for more than 3 years
.
The Japanese also seem to perceive a high emotional value when it comes to digital assets.

— Japan has a wide variety of IP, such as fashion, tourism, food, etc. The Sandbox has a lot of IP, but are there any new areas of Japanese culture that you would like to work on?

Mr. Borget：

Fashion and sports are areas that we haven’t worked on yet. Soccer, volleyball, tennis, table tennis, and baseball could be stepping stones as areas where sports and manga intersect. Boxing is also popular and attracts significant online attention.

In addition, Japan is leading in areas such as virtual influencers, a new trend that we are watching closely.

We would also like to see more exposure to the wonderful craftsmanship of Japan. The quality of “Made in Japan” is recognized around the world, and this is reflected in automakers and lifestyle products (watches, clothing, etc.). For example, I have a Porter backpack and a Casio watch. How Japanese craftsmanship can be expressed in the Metaverse is a very interesting theme. Specifically, we are considering collaborating with iconic Japanese brands like Toyota, Onitsuka Tiger, and Porter and bringing them into the Metaverse.

We believe this will attract not only Japanese users, but also the global Gen Z audience.

What are the keys to success in the Metaverse? Mr. Borget’s Perspective and Message on the Prosperity of the Market as a Whole

— As COO of a prominent Web3 platform, do you keep an eye on other projects?

Mr. Borget:
Of course I am always checking, and I understand the strengths of each. Also, as a member of the Open Metaverse Alliance (OMA), I work with other projects and am actively involved in joint promotions.

Success in the Metaverse is never a “winner-take-all” proposition. Each platform has its own specialty and niche market. It is undesirable for users to have a single platform as a destination.

— What do you see as the key to Metaverse and Sandbox’s further presence and market expansion?

Mr. Borget:

I think there are four pillars to the success and spread of the Metaverse, and The Sandbox continues to improve based on this perspective.

The first is [product and technology]. The technology in the metaverse industry is still in its infancy, and there is a huge gap between what science fiction movies depict today and the reality in 2024. In particular, there are challenges in enhancing multi-player play, improving access speeds, and integrating devices. But despite this, The Sandbox has evolved significantly over the past two years and can now be accessed in less than 10 seconds. Graphics quality has also improved significantly.

The second is [time for technology to mature]. Although there is a tendency to demand only change and new inventions, it is important to further develop areas of strength and make a series of small improvements over time.

The third is [attractive content]. Even if you have excellent technology, it is meaningless if you do not have enjoyable content that cannot be found anywhere else.

The last is [ecosystem]. It is important to build a diverse ecosystem of developers, studios, communities, and DAOs.

The Sandbox is decentralized and has its own chain, allowing it to leverage a vast array of user wallets, land owners, and avatar holders. This allows users to use their assets for mobile and other games. This borderless idea is the original vision of the Metaverse and the key to expanding the market.

— Finally, do you have a message for the business people in Japan who are involved in Web3 and the Metaverse?

Mr. Borget:

We are very excited to bring more Japanese culture into Sandbox. We are pursuing expressions that go beyond just anime and manga.

The strength of The Sandbox lies in its “no-code” functionality, allowing anyone to become a creator without requiring coding knowledge. We are excited to welcome more creators from Japan, a country rich in talented individuals who can leverage its unique culture and technology.

The Sandbox aims to provide a platform that supports and empowers them in their creative journey.

Introduction of Mr Borget:

Sébastien Borget

Co-Founder and COO of The Sandbox

Sébastien Borget is the Co-founder and COO of The Sandbox, a decentralized Metaverse where players can create, play, own, govern, and monetize their experiences using NFTs and SAND, the platform’s main utility token. In 2020, Sébastien became the President of the Blockchain Game Alliance, a non-profit organization representing 500 key industry members. He was ranked #4 on CoinTelegraph’s “Top 100 Most Influential People in Crypto” in 2022.

Introduction of The Sandbox:

【About The Sandbox】

The Sandbox, a subsidiary of Animoca Brands, is an immersive metaverse platform in which users play, create, and monetize unique experiences alongside their favorite brands, IPs, and celebrities across gaming, entertainment, music, art, and more. The Sandbox leverages Web3 technologies to fully enable end-user creation and creator economies, disrupting existing platforms by providing both players and creators with true ownership of their assets, creations, and rewards as non-fungible tokens (NFTs). Over 400 partners have joined The Sandbox, including Warner Music Group, Gucci, Ubisoft, Paris Hilton, The Walking Dead, Snoop Dogg, Attack on Titan, Lacoste, Steve Aoki, The Smurfs, and many more.. 2022 Times Magazine’s Top 100 Most Influential Companies (TIME100). Currently, more than 500,000 users worldwide.

Official website：https://www.sandbox.game/en/

Note: This interview was conducted on November 23, 2024.

The Author：Pacific Meta

Pacific Meta is an “Accelerator in the Web3 domain” that provides one-stop support for domestic and international Web3 projects.

For domestic and foreign companies and projects that are challenging Web3 business, we provide support for funding, consulting, business development, and marketing, utilizing our expertise in Web3, as well as for overseas expansion of domestic projects and Japan (and East Asia) expansion of overseas projects, utilizing our global team. We also support the overseas expansion of domestic projects and overseas projects into Japan (and East Asia) by leveraging our global team. In addition, our own office, Pacific Hub, creates opportunities for the Web3 community to interact with each other.

If you are interested in our services, please feel free to contact us.

＜Contact us for more information＞

【Company Profile】

• Location: Hamamatsucho PREX 8F, 2-2-12 Shiba, Minato-ku, Tokyo
• Representative: Shota Iwasaki, President and Representative Director
• Date of Establishment: August 10, 2022
• Business: Web3 Accelerator Business
• Capital: 150 million yen (including capital reserve)
• Official website：https://pacific-meta.co.jp/en/

【Inquiries】

• Inquiry form：https://pacific-meta.co.jp/en/contact/
• Email：info@pacific-meta.co.jp
• Pacific Meta Magazine : https://pacific-meta.co.jp/magazine/