Web2 adoption key to Metaverse success, Klaytn Foundation — KBW 2022

Sam Seo, the director of metaverse-focused blockchain Klaytn Foundation, believes widespread adoption of the Metaverse will be “easier” if Web2 companies integrate the tech with their products and services.

Speaking to Cointelegraph during the Korea Blockchain Week (KBW) on Monday, Seo suggested that Web3 metaverse projects generally have issues attracting a mainstream audience, as normal people often have a hesitancy to use new technology from companies that they have never heard of:

“If new ideas are combined with Web2 platforms like [social media app] Kakao, especially in South Korea, there’s accessibility to these new ideas for new services that could be easier than just starting from scratch.”

“Even though it’s hard, adapting Web3 technologies to Web2 platforms could be a way to bring mass adoption,” he explained.

Klaytn’s blockchain is primarily geared toward hosting metaverse, GameFi and creator economy applications, and is one of the biggest projects of its type in South Korea.

During a presentation at KBW, Seo said the team is hoping to scale up its transaction throughput and while also bringing the cost of transaction fees down.

“We’re smart enough to know that people are still hesitating about using this platform because anyway, they have to pay something right. So we believe that gas fees should be as low as possible. So they can have the people enter this area. That’s our thought. And that’s why we are trying to reduce the gas prices,” he said.

Related: Major crypto exchange announces its arrival in the Metaverse

Seo also revealed that Klaytn will roll out an open-source Metaverse package with tools for builders to foster development on the blockchain later this year.

newsby.top • 2022