Sandbox CEO Arthur Madrid Explains Why Wallet Interoperability Is Key to Web3 Gaming

Wallet interoperability still remains the vision for Web3 gaming, according to Arthur Madrid, the co-founder and CEO of the decentralized metaverse and gaming platform The Sandbox.

Arthur Madrid, the co-founder and CEO of decentralized metaverse and gaming platform The Sandbox (SAND,) , said that wallet interoperability is still the vision for Web3 gaming.

Madrid and Sebastien Borget, the co-founder and chief operating officer of The Sandbox, spoke with Cointelegraph at the Crypto Polo event in Dubai about the future of gaming in the metaverse.

One of the main narratives that we’ve seen in the last couple of months is that players can move from one game to another using a single wallet, said Madrid.

But it’s still an exciting topic for Web3 gaming enthusiasts who are keen to see how players will access games with one wallet and use their items on different platforms.

Madrid added that despite a market slowdown, the Web3 gaming space is still booming. The tools and infrastructure needed to create new games have become more accessible.

“I can feel that the tools you need to create games are becoming more accessible. If you look the number of games that have been created on gaming platforms over the last two years, it's still booming,” Madrid told Cointelegraph.

The Sandbox CEO noted that a new generation of programmers and programming tools is working on new types of gameplay. But the space needs only one good game that could serve as the catalyst for the broader adoption of Web3 technology in gaming.

“The thing is, you always need this moment where one game is making a difference. You have this moment of rebirth,” Madrid said.

Shift in NFT utility

Meanwhile, Borget noted that the non-fungible token (NFT) space is now seeing a shift in focus.

He said that their team is now seeing more maturity in the industry as it shifted from using NFTs to do fundraising and just profile pictures to better use cases. This was driven by consumers demanding more use for their digital assets.

“At The Sandbox, we still continue to see more demand for our virtual land, avatars and other NFT collections, such as Jurassic World, because they can be used across the game right away,” Borget added.