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

Share This Post

“Even though it’s hard, adapting Web3 technologies to Web2 platforms could be a way to bring mass adoption,” says Klaytn Foundation director Sam Seo.

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 Aug. 8, 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 towards 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.


Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Crypto Scam Busted—Victims One Step Closer to Justice

A South Lake Tahoe man, Daniel Chartraw, 51, faces a 12-count federal indictment for wire fraud linked to a cryptocurrency trading scheme, per US Attorney Phillip A Talbert Arrested recently,

SEC Greenlights First Hybrid Bitcoin And Ethereum ETFs From Franklin Templeton, Hashdex

Amid yesterday’s crypto market slump, the US Securities and Exchange Commission (SEC) approved the first-ever dual Bitcoin (BTC) and Ethereum (ETH) index exchange-traded funds (ETFs) from Franklin

Bitcoin Price Could Rally To $178,000 If History Repeats — Here’s Why

The price of Bitcoin fell to around $92,000, Friday afternoon, December 20 after the US Federal Reserve’s rate cut triggered a sharp selloff in the crypto market However, the premier cryptocurrency

What Happened in Crypto This Week? A Crypto Crash Breakdown

The post What Happened in Crypto This Week A Crypto Crash Breakdown appeared first on Coinpedia Fintech News This is a very short and simple update on what we have witnessed this week in the

What Happened in Crypto This Week? A Crypto Crash Breakdown

The post What Happened in Crypto This Week A Crypto Crash Breakdown appeared first on Coinpedia Fintech News This is a very short and simple update on what we have witnessed this week in the

XRP Price Prediction: Donald Trump’s Fund Buying XRP, Hedera Sparks Optimism For The Tokens

The post XRP Price Prediction: Donald Trump’s Fund Buying XRP, Hedera Sparks Optimism For The Tokens appeared first on Coinpedia Fintech News With the year coming to an end, XRP is finally showing