According to Cointelegraph, Sebastien Borget, co-founder and COO of The Sandbox, stated that the metaverse industry is thriving in Asia, despite appearing 'dead' in the United States. Borget made these comments at the Asian Blockchain Gaming Alliance's Web3 Summit in Singapore on September 12. He revealed that over the last year, approximately 50% of Sandbox's business has come from various countries in Asia, with Hong Kong and Korea being the top two markets, followed by Japan.

Borget also announced the upcoming launch of Lion City, a new neighborhood in the Sandbox metaverse consisting of 512 virtual land plots, which aims to showcase Singapore's culture through partnerships with global brands. Furthermore, he mentioned a recent major virtual land sale in Turkey, where the metaverse has a 'big ecosystem.' The Sandbox ecosystem now includes over 400 brands, 700 partners worldwide, and 200 verified agencies building on the platform.

Borget expressed optimism about new developments in the Web3 and virtual reality sectors, such as dynamic NFTs and Apple's Augmented Reality Vision Pro headset. He believes these advancements will bring digital assets closer to users and enhance their interaction with the metaverse. Borget concluded that there is no right or wrong way for the metaverse sector to promote widespread Web3 adoption, as different approaches can cater to various user experiences.