Web2 Adoption Key to Metaverse Success, Klaytn Foundation Founder — KBW 2022

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

Speaking to Cointelegraph during Korea Blockchain Week (KBW) on Aug. 8, Seo suggested that Web3 Metaverse projects generally have trouble attracting a mainstream audience as normal people are often hesitant to adopt new technology from companies they’ve never heard of.

“When new ideas are combined with Web2 platforms such as [social media app] Kakao, especially in South Korea, access to these new ideas for new services can be easier than starting from scratch.”

“While it’s difficult, adapting Web3 technologies to Web2 platforms could be one way to drive mass adoption,” he explains.

Primarily focused on hosting Metaverse, GameFi and Creator Economy applications, Klaytn’s blockchain is one of the largest projects of its kind in South Korea.

During a presentation at KBW, Seo said the team hopes to scale up its transaction throughput while reducing the cost of transaction fees.

“We are smart enough to know that people are still hesitant to use this platform because they have to pay something good anyway. That is why we believe that the gas price should be as low as possible. So that they can let the people enter this area. That’s our thought. And that’s why we’re trying to lower gas prices,” he said.

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Seo also revealed that Klaytn will be rolling out an open-source Metaverse suite of builder tools later this year to advance development on the blockchain.