Author of “Snow Crash,” talks about user-generated content and digital economies
Join Our Telegram channel to stay up to date on breaking news coverage One of Web3’s most influential texts, Snow Crash, made many predictions, but it did not capture the current atmosphere of speculative activity around NFTs. No one in Neal Stephenson’s book is seen selling avatars for a profit like an NFT trader could on the OpenSea or Blur markets. But Stephenson wasn’t necessarily incorrect. According to Stephenson, there will eventually be a move away from the sheer financialization of digital assets. This fundamental shift is necessary to create a thriving metaverse in which people assign value to digital assets above and beyond what they might be sold for. In his words, I’m hopeful that we can kind of shift away from this sort of single-minded attempt to financialize everything and start trying to establish a more varied economy, that by virtue, would be a more stable economy. The word “metaverse” was first used in Neal Stephenson...