On game theory and Web3 in social media: Interview with HundrX

cointelegraph.com:

The dynamic convergence of game theory and social media is a rapidly growing space in the cryptocurrency world. Ivars Indriks, the founder and CEO of HundrX, a pioneering Web3 layer for Twitter, offers valuable insights into the gaming industry’s evolution over the past seven years and presents a compelling case for how insights from this space can be applied effectively in the social media industry. Indriks, with his solid grounding in game theory and extensive experience in mobile gaming, holds an intriguing vision for the future of social networks. His enthusiasm for emerging trends, such as the rise of AI, digital twins and Web3 technology, is evident as he examines the challenges and opportunities inherent in these developments.

Q: First things first — what is game theory, and what are its most important aspects, in your opinion?

Sure, let’s imagine we’re playing a game of tag. Game theory is like the rules and strategies we use in that game. It helps us understand why we make certain choices, like who to tag next or where to run.

For example, if you and your friend are both trying to tag the same person, you might decide to work together. That’s a bit like what we call a “cooperative game” in game theory.

So, game theory is the big rule book that helps us understand all the different ways we can play and have fun together. In my work, I use these rules to help make a gamified experience that everyone can enjoy.

Q: Can you elaborate on how HundrX incorporates game theory into its approach to social media? How does this framework influence the overall strategy?

We use game mechanics like network effects, where the platform becomes more valuable as more people join and participate. We also use viral loops, where users