Tim Sweeney, the co-founder of the studio behind titles such as Hitman, Gears of War, and the wildly popular Fortnite said in a Tweet today that non-fungible token (NFT) tech and the ‘metaverse’ it one day may enable are “going places,” but due to factors such as transactions costs and the “wild, speculative mess” that makes up much of crypto today, the dream of “a persistent, live digital universe” might be far off.
Sweeney made his comments in response to a blog titled “Into The Void: Where Crypto Meets The Metaverse.” Written by blockchain consulting, research and investment firm Delphi Digital partner Piers Kicks, “Into The Void” is a sprawling essay that dives into the history of digital connectivity and in-game economies, ultimately arguing that blockchain-based metaverses will not be a simple improvement over previous virtual experiences, but will instead mark the start of a new human epoch:
“In the coming decades, a new era of virtual existence will be ushered in marking our next great milestone as a networked species.”
In a short Tweet thread Sweeney praised the blog post and acknowledged that blockchain tech and NFTs are the “most plausible path” towards a fully emergent metaverse, but also indicated that these developments may be far off and that investors should be cautious with their money:
1) The state of the art is far from the 60Hz transactional medium needed for 100M’s of concurrent users in a real-time 3D simulation
2) Don’t read this as an endorsement of cryptocurrency investment; that’s a wild, speculative mess
But the tech is going places.
— Tim Sweeney (@TimSweeneyEpic) January 30, 2021
“It’s immensely exciting to see recognition of the potential of these technologies from Tim, who is undoubtedly the leading pioneer of change within the game industry and beyond,” Kicks said in a statement to Cointelegraph. “[…] Almost everything out there right now is not yet ready to be mainstream…