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“A Virtual Economy is As Real…” NeoWorld COO Kane spoke of the Economics

At the largest blockchain game event in the world – Minsk Crypto Games conference, NeoWorld COO Kane shared the team’s experiences and findings after a year into managing a virtual economy in the NeoWorld.

The conference, held on 24 and 25 April in Minsk, Belarus, attracted global attention with companies and audience from around the clock. NeoWorld was invited to showcase the virtual world project amongst other prominent crypto projects like MyCryptoHeroes, Axie Infinity, Blockchain Cuties.

NeoWorld, despite being one of its own kind in the blockchain games industry, has attracted far more players than most blockchain games – over 50,000 players and maintained a steady DAU of over 5,000. The idea of collectively building a virtual world charmed players from more than 50 countries.

Kane, however, stressed that the concept of a robust virtual economy is essential for the game to continue to move forward with full steam after launching a year ago. Most crypto games faded out of the scene in a few months’ time, as early adopters lost interests in the collectibles. “Since inception, NeoWorld is designed to be a User-Generated-Content platform, which means players, individuals or professional studios, create contents in the virtual world. The virtual world will grow organically, as time goes by.” Kane explained the unconventional design concept of NeoWorld in his speech during the conference.

UGC type of game is the prevailing trend in the mainstream game industry today, with leaders like MineCraft or Roblox getting insanely popular amongst the next generation. Blockchain games pioneers are also enthusiastically experimenting possibilities of creating a brand new type of games with UGC and crypto economies.

NeoWorld team comprises of finance professionals and is advised by experts with macroeconomics background, like economists from policy banks or universities.

“Selling your token is never the more the merrier.” Kane explained in the dialogue sessions and emphasized that crypto game tokens should be managed conceptually like monetary supplies in real economies and follow fiscal and monetary policy principals.

The NeoWorld project thrived without an ICO or massive fundraising. Funded internally, it is cashflow positive from in-game transaction commissions. The project is expected to close a round of fundraising soon to cater to strong institutional demands and to further finance its global expansion.

 

Website: https://www.neoworld.io

Telegram: https://t.me/neoworldio

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Written by Melvin Wilson

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