Former Valve Economist Nft Is Not A Threat And It Is Too Early To Move To The Meta Universe

Yanis Varoufakis who was the Former Greek Finance Minister before becoming an economist with Valve, delivered a fascinating interview to Crypto Syllabus. The discussion touched on NFT meta universes, meta universes and blockchain.

  • Through Varoufakis Meta universes were discovered ten years ago:

At the time, the Valve games created a massive economy that simultaneously thrilled and frightened the company. Digital assets that were previously made available free of charge (by throwing games) were sold on eBay for thousands of dollars, long before any thought was made about NFT.

  • The floor was constructed for trading, Valve worried about what would happen if the price of profit-making goods suddenly fell. This would have prevented employees of the company from resting peacefully in the night.
  • After a few years, the expert discovered that gamers had for a long time lived in full-fledged metacommunities. The game enticed players into the system, and they began to be part of it for a large portion of their lives, making friends, developing products for sale, etc.

    • This is the reason why Varoufakis was critical of Mark Zuckerberg. He stated that the chief of Meta is seeking to bring billions of gamers far from games into a Steam-like digital social system that can be controlled currency. “And what is the best way to avoid drawing parallels to the digital world where Zuckerberg wants to be a the techno-lord? ” The former minister is asked. This means that Zuckerberg isn’t offering something new to the world, though, in his presentations and interviews, he makes clear that he is trying to disprove this.
Yiannis Varoufakis is himself.
  • Then we will discuss NFT. Varoufakis quickly provided the example of capes in Team Fortress 2:

The players of Team Fortress 2 were addicted to digital caps. They were initially free, but they later were not released in all of them, and they turned into collectibles. Gamers began trading them within games, and as the demand for certain of them increased dramatically, the people shifted to eBay and sometimes sold the items for hundreds of dollars. You can see the degree of trust among users. In the end, the seller is able to take home the money and a hat.

Then Valve ended the requirement for an incredibly high degree of trust when it created an in-game market which eliminated eBay out of the equation, and having access to an additional source of profit.

  • Yanis Varoufakis believes that NFT is different from similar deals that use hats from Steam Blockchain takes businesses off the table, and permits the transfer of assets from one dimension of digital exchange to other.
  • NFT doesn’t have risk of destruction, as The former Valve economics expert is convinced. In his opinion, NFT tokens aren’t a new concept apart from the possibility of “strengthening of capitalism’s ideology.”
  • According to him that the world is still way off from the day when everybody can travel to the meta universe and make money through its parallel economy:

It’s nice to be young and a guy from Shenzhen who earns sixty thousand dollars every year, making hats with a computer and not destroying your health by working in the sweatshop. But will all the workers of Shenzhen (and elsewhere) be freed from such factories and go into the world of the meta-universe? It’s not until we replace those workers with robots that we can maintain the current level of money.

If we don’t have robot enslaved people who serve humanity as a whole, the notion that humans should behave like robots and be like humans in the midst of their free time is the antithesis of misanthropy.

Remember that major game companies have begun to become involved in NFT technology as well as for cryptocurrencies. For instance, Konami has generated a substantial amount of tokens associated with its franchise, in addition, Ubisoft participates involved with its own NFT-based platform. The most notable in the crowd is Valve, which has prohibited blockchain-based games on its platform.

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