How to Solve “THE” web3 Problem: A Staircase Tax

MMOs and most web3 titles suffer from a fundamental design flaw: capital depreciation (or lack thereof). The result is a Zimbabwe-style hyperinflation economy so prevalent Redditors plead to find an MMO that hasn’t suffered. Even EVE Online, with its own Head Economist  . suffered inflation bouts. It’s a looming threat to the web3 space, only mitigated by…

Why Virtual Currency Exists

A recent Twitter thread highlighted a popular Gamer™ belief: Nope, they are mostly used to obfuscate real prices and can’t store value — Nicola Visonà (@VisonaNicola) May 25, 2021 Even within gaming studios, I encounter a similar sentiment. Proponents of this position claim “firms use virtual currency pricing as a behavioral trick!” With virtual currency,…

Optimal Area Currency With Milton

In hindsight, one of Friedman’s great predictions is the Eurozone crisis. Despite being a massive champion for flexible exchange rates, Friedman never advocated for a common European currency. Europe exemplifies a situation unfavourable to a common currency. It is composed of separate nations, speaking different languages, with different customs, and having citizens feeling far greater…