Fortnite founder Tim Sweeney in a tweet noted that non-fungible tokens (NFTs) and the metaverse market have potential but are far too speculative for stepping into just yet. Sweeney made the remarks in response to a blog titled “Into The Void: Where Crypto Meets The Metaverse.” It is a text written by blockchain consulting, research, and investment firm Delphi Digital partner Piers Kicks. The essay highlights how new digital currencies based on blockchain and in-game economies have massive possibilities.
Fortnite Founder Finds NFT Market Speculative
Sweeney praised the article and admitted that blockchain and NFT technology have massive potential. However, he also criticized the crypto market. According to him, the NFT market goes in a different direction as there is more speculation than any real value in it.
A great Piers Kicks article on blockchain based underpinnings for an open Metaverse. This is the most plausible path towards an ultimate long term open framework where everyone’s in control of their own presence, free of gatekeeping.https://t.co/Fi6kweNDjj
— Tim Sweeney (@TimSweeneyEpic) January 30, 2021
The article dives into the history of digital connectivity and in-game economies. It argues 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.”
Mark Cuban Released Personal NFTs
It’s exciting to see recognition of the potential of blockchain-based technologies from the founder of Fortnite, a leading pioneer within the game industry and beyond.
Meanwhile, Sweeney isn’t the only major entrepreneur to talk about NFTs in recent weeks. A few days ago, Mark Cuban released a series of 10 NFT animations of him dancing. They were all sold out within hours. This only reveals that Cuban is slowly starting to invest in the blockchain market.
At a similar time, Cuban also said in a TV interview that NFT prices are overpriced due to its lower interest rates. This only indicates that his interest in the NFT market might be only exploratory.