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    Apparently, You Don’t Actually Own NFTs In The Sandbox

    By MicahMay 11, 2022Updated:May 17, 20222 Mins Read
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    The Sandbox is a metaverse platform where users can build, own, and monetize their gaming experiences. It is one of the earliest metaverse built on the Ethereum blockchain with over 2 Million users. But, just recently, there have been claims that The Sandbox users don’t actually own their NFTs on the platform.

    The picture shows NFTs in a metaverse called The Sanbox
    Did you ever read the Terms of Service when you signed up on The Sandbox? Credit: The Sandbox on Twitter

    Who Really Owns Your NFTs Associated With The Sandbox?

    In a blog post, Indiana University associate law professor João Marinotti said that you don’t actually own the NFTs associated with The Sandbox. He said that according to the platform’s Terms of Service; it has the right to end your ability to use or access your digital assets.

    If The Sandbox “reasonably believes” you engaged in any of the platform’s prohibited activities, it may immediately suspend or terminate your user account. The TOS said this requires subjective judgments if you interfered with others’ “enjoyment” of the platform.

    The picture shows a snippet of The Sandbox metaverse platyform
    Do you agree to the platform’s Terms of Service?

    The metaverse company also has the right to delete your NFT’s images and descriptions from its platform. The Sandbox can do this without any notice or liability to you.

    In fact, The Sandbox even claims the right in these cases to immediately confiscate any NFTs. This can happen if it deems you acquired it as a result of the prohibited activities.

    How it would successfully confiscate its user’s blockchain-based NFTs is still a mystery. However, this raises questions about the validity of virtual ownership.

    As of writing, the popular metaverse platform has been silent regarding these claims.

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    All investment/financial opinions expressed by themediaverse.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

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    Micah

    Micah is a writer based in the Philippines. She loves to write about the things that spark her interest like tech, art, blockchain, and NFTs. In her free time, she paints using acrylic and watercolor, reads fictional novels, and plays video games.

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