Tim Sweeney, who is the co-founder of the development studio that made Gears of War, Hitman and Fortnite, tweeted that it is releasing a non-fungible token. The metaverse will allow it to go places if the transaction costs calm down. He added that today's cryptocurrency market is a dreamland of persistent chaos that needs to be mediated.
Sweeney tweeted this in response to a blog post from Delphi Digital's partner Piers Kicks. The post is a long essay about the history of digital connectedness and in-game economics. It goes into investments, blockchain-based worlds and more. It argues that virtual experience could start a new human epoch that we can't exactly understand right now.
The blog goes on to say that a new era of virtual experiences could usher in a new milestone for human networking. Sweeney liked the essay and said that blockchain technology is a plausible path to that idea. He said that the developments are pretty far off, and nobody should hold their breath. He also cautioned investors not to go crazy with putting their money into these ideas.
Sweeney said this is exciting and inspiring, but has a lot of risk. The scalability and bottleneck of technology are impediments to the process. It's all speculative for now. Sweeney isn't the only one to discuss this topic. Mark Cuban released 10 animations of himself dancing with non-fungible tokens. They sold out in a few hours. A lot of well-known tech people said that Cuban likes to try that stuff on a regular basis.
After dropping the non-fungible tokens, Cuban said that the prices were inflated due to low interest rates. He added that the tokens are an exploration and have no real value to anybody. He and Sweeney have reasons to get people to do this. Their investments are the reasons. They need the capital to enhance development. Not only do they need the investments, but they benefit from the attention that any cryptocurrency development has. The more attention they get for their wild ideas, the more speculative the cryptocurrency market is likely to be in the future.