• Many tech companies are heading into the Metaverse
• Metaverse Standards Forum is intended to simplify cooperation and ensure interoperability
• The sandbox cryptocurrency SAND shoots higher on takeover speculation
For many companies, the metaverse is the natural evolution of cryptoverse and blockchain technology. Accordingly, many tech companies are already working on their own version of a virtual space in which the most diverse areas of analogue life can be transferred to virtuality. However, it would contradict the idea of an all-encompassing metaverse if companies were to create many different metaverses of their own that would then not be compatible with each other. For this reason, numerous tech companies such as Meta Platforms, Microsoft, Alibaba, Sony and others have recently come together to found the Metaverse Standards Forum.
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The Forum’s goal is as follows on its website: “The Metaverse Standards Forum is open to any organization free of charge and provides a collaborative space for standardization organizations and companies to promote the development of interoperability standards for an open and inclusive Metaverse and the development and accelerate delivery of such through pragmatic, action-based projects.”
Critics question the intentions of tech companies
With the help of such cooperation, the creation of a metaverse should be simplified accordingly. However, there are also numerous critics who question in particular whether the large tech companies belonging to the forum are actually striving for a decentralized metaverse. After all, companies like Facebook parent Meta benefit massively from the data that such a metaverse would bring with it. As Meebit’s DAO summarizes to Decrypt: “Ultimately, we are fighting for a decentralized future and these companies represent shareholders.”
Rumors Are Running – Is Meta Buying The Sandbox?
In the course of the founding of the Metaverse Standards Forum, the rumor mill also boiled up. According to BTC-Echo, there was speculation on social media over the weekend whether the Metaverse games platform The Sandbox could be taken over by Meta. The Sandbox is a virtual game world based on the Ethereum blockchain, in which users can monetize their gaming experiences using their own cryptocurrency or NFTs during the game.
The rumor about a meta takeover was not the first time it was rumored about a possible acquisition in the past. According to BTC-Echo, unconfirmed sources even had a possible price ready at the weekend, Meta is said to have offered four billion US dollars for The Sandbox. The course of the game’s own cryptocurrency SAND shot up more than 20 percent in response to the rumours. In addition, other Metaverse tokens such as ApeCoin and Decentraland also increased in value by double digits.
The Sandbox COO denies
Nevertheless, The Sandbox COO Sebastien Borget immediately put an abrupt end to the takeover speculation by announcing via Twitter: “This will never happen”.
This will never happen.
– Sebastien ? (@borgetsebastien) June 25, 2022
It remains to be seen whether there will be a takeover in the future.
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