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As the firm moves to open up The Sandbox Map, co-founder Sebastian Borget said he believes individual creators and brands will ultimately drive what the metaverse of the future will offer. Individual creators and brands will ultimately determine the future of the metaverse as opposed to any centralized entity, according to the co-founders of The Sandbox. On Nov. 3, the team behind the Ethereum-based metaverse announced on X it had made The Sandbox Map accessible to everyone, where “LAND” owners can publish their own experiences without needing to partake in an application process (which was previously required). THE METAVERSE IS NOW OPEN Starting today, LAND owners in The Sandbox can instantly publish experiences on the map! We're accelerating user-generated content to unleash the creative potential of creators like you. Let's build the metaverse together. #UGC #CreatorsDayHK pic.twitter.com/A2E8gNI2it — The Sandbox (@TheSandboxGame) November 3, 2023 “Now [anyon...

Hong Kong has allowed retail crypto trading since June. Just 47% of retail crypto investors in Hong Kong are aware of the Virtual Asset Trading Platform Regulatory Regime, a legislation which went into effect this June to protect the interest of retail investors in digital assets in the region. That's according to an October 11 report by the The Investor and Financial Education Council (IFEC) of Hong Kong. In its survey, the IFEC noted that nearly 25% of Hong Kong adults ages 18 to 29 have invested in crypto within the past year, three times the demographic average and a significant increase over 2019, where just 3% of respondents in the said demographic reported investing in crypto .  Despite the improvement in adoption, most Hong Kong-ers said that their top investment preferences were stocks (96%), mutual funds and trusts (24%), followed by bonds (18%). Around three-quarters of overall respondents said the primary goal of investing in crypto was for "short-term pr...

Binance CEO Changpeng Zhao emphasizes the need for a proper understanding of the crypto industry by regulators and active engagement by industry players to achieve regulatory clarity. In a fireside chat during the Hong Kong Web3 Festival, Changpeng Zhao (CZ), CEO of Binance, expressed that it is important for crypto regulators to have a deep understanding of the industry to facilitate proper crypto regulations. The fireside chat was moderated by Deng Chao, the CEO of Hashkey Capital. According to CZ, “There is a very natural tendency to borrow traditional financial industry regulations to apply to crypto . Crypto is different from banks and traditional financial industries” He went on to explain that knowing the answers to simple questions like how to classify different assets is important in deciding on regulations for the industry, as there are many types of crypto assets. Some assets may look like securities, others like commodities, or utility tokens, some may even have a combina...