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Metaverse Game Backer Yat Siu Says Low User Count Isn’t Best Measure

  • Yat Siu said there are better ways to assess player engagement
  • He also defended embattled blockchain game Axie Infinity
Yat Siu, co-founder and executive chairman of Animoca Brands.
Yat Siu, co-founder and executive chairman of Animoca Brands.Source: Bing Guan/Bloomberg
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The Sandbox, a virtual world based on blockchain, is doing just fine despite a report that the platform only had around 500 daily active users, according to Yat Siu, co-founder of Animoca Brands Corp., the majority owner of the digital game. 

Such a low user count would be shocking for The Sandbox, which has considered raising funds at a more than $4 billion valuation. The CoinDesk report used data that only looked at blockchain transactions, Siu said Thursday in an interview with Bloomberg at the TechCrunch Disrupt conference in San Francisco. He said these transactions, which can include sales of virtual land represented by nonfungible tokens, are not reflective of overall engagement with the platform, especially considering that more users are holding onto their NFTs in order to use them in the game, rather than selling them.