“Snow Crash” Author Neal Stephenson: Metaverse Gaming Must Attract Practitioners, Builders And Investors With Economic Models

Foresight News reported live that in the theme of “The Hitchhiker’s Guide to Metaverse: NFT, GameFi and Infrastructure” at the main venue of the “2023 Hong Kong Web3 Festival”, Neal Stephenson, the author of “Snow Crash”, said in his keynote speech that to attract more people into the Metaverse, it must provide interesting things for users to enjoy. In terms of gaming, it is not effective to put traditional games into the Metaverse. An economic model that’s appealing to creators is necessary to incentivize them to make metaverse experiences. There is a need to figure out how creators get paid in the Metaverse where avatars can combine hundreds of different assets, textures, animations, behaviors, and accessories made by different creators. Metaverse also needs to provide a large number of different experiences, abide by certain rules, and continue to cultivate in three-dimensional, cross-geography and space, player experience, and game implantation. In addition, art direction, game design, and creativity are also of significance. These trends are already starting to happen and could revolutionize the gaming industry as a whole.

He remarked that Blockchain technology can be used for micro-transactions and creator economics in the Metaverse. Premature financialization is the root of all evil, and volatility is the basic problem. Thus development of financialized systems is attractive to people who want to make as much money as possible without doing a lot of work or accepting a lot of risk, resulting in rent-seeking behavior. The concept of financial bubbles, such as the tulip bulb mania in the Netherlands, is based on speculation rather than tangible economic value.

“Web3 Festival” is a Web3 event brand jointly launched by Wanxiang Blockchain Lab and HashKey Group, and hosted by W3ME. This year’s “Web3 Festival” will last from April 12 to April 15, and will focus on the core issues of various Web3 sectors such as regulatory policies, Web3 infrastructure, and Metaverse.