Gamers Vs Crypto Bros and NFTs
I want to do a top down look at the entire gamers versus crypto bros debacle, because its not only an important subject, its also hilarious, so first things first and also im sick right now. So i apologize if my voice sounds completely off, but first things. First, this isnt some sort of fringe topic – people often say well. Who cares? No one does when i mention nfts and gaming, but the reality is its happening. Ea has openly praised the nft concept to their investors, ubisoft actually demoed and failed horribly. Some ghost recon break point nfts and even square enix got on board with a new years day statement about how nfts and blockchain are the future of their business model with play to earn and tokenomics and a whole bunch more stuff. That was horrible to hear and reeks of anti consumer anti player, behavior thats, not even all of it, but those are massive companies that are forging ahead with a goal of integrating blockchain technology and specifically nft items into mainstream gaming. So why does it matter it matters? Because this would be a ridiculous and almost universally negative thing. It matters, because one of the only speculative upsides has been completely made up and it matters because the crypto bros and the gamers are clashing on social media. As one group thinks, oh, my god, im gon na be rich. My little duck. Pixel is gon na, be worth a million dollars and i own it and i can play it as it in every game ever soon, because nfc is in crypto and blockchain.
And, oh, my god, so cool and the other group thinks holy. Please go away! You idiots lets begin with the main claim as to why nfts and video games are an amazing idea: cross platform cross property usage, heres a tweet from mike shinoda one of the lincoln park, guys that went semi viral in my online circles and encapsulates fairly well. What the idea has rapidly become the concept is pretty simple, but wildly complex, underneath basically nft and crypto. Bros think that the future of video games will be a world where your nft is a transferable in game item and that item can be played across completely different and massively popular franchises for free. This is patently absurd and completely ridiculous. This is fantasyland with absolutely no grip on reality, and it is not going to happen. Okay, its just not going to happen. There are dozens of reasons as to why but ill list a few of them right now, just because the moon, bro, nft culture doesnt seem to be getting the message lately for starters, games have wildly different aesthetic styles, completely different engines, legally separate infrastructure and half of Them barely run properly, as it is, let alone when you start trying to add hundreds of thousands of other items into an already shaky ecosystem lets expand on this logically and ill. Just talk about the steps i know personally, which would make this idea completely impossible game company one makes a bunch of nft items right, thats their decision, their initiative.
They make a bunch of them. Do these items have stats? Are they functional items or are they just cosmetic cosmetic only is far easier, so lets go with that a game company makes cosmetic only mfts, and now the crypto bros think hey. Why cant? I use this in all my other games because of blockchain heres. Why that item took resources to make multiple people most likely, probably tens of thousands of dollars to craft mint and host the items, and all of it was based on particular code such as the unity game engine, just as one example well, company. One now has a thousand nft items, lets say and crypto bros want those items to work on five other games on separate platforms as well as twitter, apparently okay. Well, how can we make it happen? This is whats required and far more, i might add, every single other company who wanted to use these nfts would have to enter into a very complex legal agreement with every single other company already involved, because these are for profit institutions and then they would have to Take those nfts and recreate them effectively from scratch, with their own code on their own engine, reformatted for their own art style and essentially duplicating the resources already spent just so that you can use your valerian skin in call of duty now picture this process for every Other company and recognize that new nfts are being minted every single day.
This means that there would need to be thousands of employees working full time just to create and port nft items between major franchises when some of those franchises arent even compatible from an artistic perspective. A skin in minecraft isnt, even going to be remotely similar to his skin in call of duty, also rigging and all sorts of physics and stuff its just a completely different thing. When you start talking about using the skin on twitter as well, so i dont even know how that would possibly translate, but these are entirely separate, universes to even have a tiny chance at success with this idea on a very small scale, every single major video game Developer would have to use the exact same game engine and identical creation parameters for all of their nfts, not to mention all of their game code as well, which is never gon na happen. Ea would need to use the exact same process manufacturing their fifa nfts, as activision blizzard did, with their candy crush ones, making this something that can never. It can never and will never happen, but what about profit? The idea with all these crypto bros is that this concept is going to make them filthy rich, but everything is free, which seems oddly contradictory right but heres. The problem. Every single one of these gaming publishers exists as a profit driven entity, most of which have a fiduciary responsibility to public shareholders, requiring them to maximize revenue.
Okay, everyone knows that already, but how does that factor into our little fantasy land here it matters, because these companies would be footing massive costs in order to import workable nfts to their game, but the target market for those nfts does not exist. They would be doing all of it to expand the usage for those that already own the nft and they would be able to harvest almost nothing as a result in terms of actual profit right now, fortnite manufactures skins, tons of them for their own characters within their Own ecosystem and they strike licensing, deals with popular entertainment, franchises sure, but as soon as you could bring all your call of duty skins to fortnite, they would have to completely remake all of them for you to do it anyways. Remember that, as soon as you could bring your call of duty skins, their intrinsic market potential for fortnite gets completely destroyed. Nft cross property pollination wont happen because it fundamentally and immediately becomes a dumpster fire of wasting publishers. Money. Imagine this right. One person has a skin. Why would a different publisher put all the resources into making that skin, so one person can port this unique skin from one game to their game right there? There is absolutely no reason why they would do this. There are a hundred separate technical reasons that make it impossible its an artistic nightmare right, trying to say going from like an eight bit game to a not eight bit game like wild, a legal nightmare, and all of this would have to be undertaken to the financial Detriment of their entire business by major gaming publishers, social media companies and every other corporate entity that owns a digital property, deemed desirable by the nft bros its a fantasy land, and it will not ever happen.
You might see smaller partnerships emerge here and there one developer might work with another developer to let one iteration of one cosmetic nft into a few games like a series of a thousand jackets or pants or shoes, or something right, like one cosmetic from one game to One other developers game, but youre never going to see it on a wider industry scale as soon as you bridge from cosmetic only to stat based and utility items as well. It gets infinitely more complex to a point where i dont even think. I need to describe how idiotic it really is. You cant take the stat functionality of a gun in fortnite and expect that to translate into call of duty without a total rework again making these things from scratch, adding, for example, the mechanical reality of physics, bullet drop, etc, etc. So cosmetic is where you are hard stuck and even thats impossible, but were not done. Nfts are also a massive scam and the functionality they provide is literally nothing that does not already exist in gaming. Only better bear with me right. This is where a bunch of people are going to screech. In the comments section. Nft fans often proclaim that ownership is key. They own these things, its proof that they own these things. No one can take them away its on the blockchain forever, but when you parse through their actual point theyre just saying that decentralization is a superior form of ownership, thats all theyre actually saying, except why video games already have accounts and unless you get phished or give Your account details to someone else like an idiot.
Your stuff is your stuff and it exists on your account. Well, the nft bros, obviously dont think that far ahead, because some of them are getting phished or giving away their account details and when they lose their nfts, they cry for a central solution or say that the thief needs to give them back because of property law. Also, the idea is that you own nfts forever, but game servers can shut down. So if a video game, publisher, mints an nft and then its for their game as a cosmetic and then its for another game as a cosmetic as well, because they cross convert it or whatever then yeah, you have it in two ecosystems, where you can lose it. If they shut down those ecosystems, because the game controls it its a centralized thing, its, not decentralized, it makes absolutely no sense. Nfts are currently insecure in an almost identical way when compared to traditional video game accounts, except if you lose your nfts. No one can help you, you cant, open a support ticket, improve your identity, leading to item loss reversal. You just have to move on because your is gone and you cant do a single thing about it. Thats, better thats really actually better. Tell me more about this superior new video game technology. All of this makes no mention of the rampant copyright and intellectual property theft. Artists are just having their work repurposed into nfts right now, and then its on the blockchain and people buy and sell it like they own it when they actually dont own it at all.
Recently there was a destiny nft that got minted, and now the destiny fans are pitted against the crypto bros in even fiercer debate, because someone simply illustrated a destiny, guardian, slapped filters on it and is now selling destiny. Themed nfts and bungie has issued cads or cease and desist letters before so i fully expect them to do it again here. One of the main things you hear is that nfts are a bridge between in game items and real world value. This is another core pillar of the argument. Nft cosmetics would be sold on auction sites or by third party vendors, and you could actually have earning potential right play to earn from these items because they dub they double as a store of value for various crypto tokens. Right, you have an nft, its actually worth bnb. So therefore, its a 400 item – and you can get your 400 because its crypto yeah – we tried that already with diablo 3 and they took it out of the game because no one liked it the concept of selling or renting great drops and powerful items on the Blockchain through the usage of nft technology, publishers can already do that or an identical system to that in terms of function in their games, diablo 3 had an auction house with real money conversion. It didnt make the game better and blizzard admitted openly that the real money auction house undermines gameplay. They didnt have some sort of tracking gimmick where you can see the weapons, history or previous owners or anything, but none of the bells and whistles.
We see right now with nfts are important to their basic function, using them as a store of value and allowing players to trade them as its some sort of highly, as if its some sort of highly beneficial concept is already proven to be false. All of this is greater fool theory. Greater fool theory dictates that one can sometimes make money from the purchase of wildly overpriced assets if those assets can be sold down. The line to a greater fool. The psychology behind this is also completely ridiculous, and human beings are often drawn to items that are seen as having a dramatic value increase just because of that value increase which combines with herd mentality, also fomo fear of missing out to make it so that fools are Buying an absurdly overpriced asset just because its expensive hoping to sell it to an even greater fool down the line and capitalize on a long line of idiots buying into things that have no value. It also reminds me of veblen goods. Veblen goods are products that are expensive simply because that makes them seem higher quality. A good example is wine. Wine absolutely has a high degree of flexibility between good and bad types, but a lot of people look at a higher priced bottle of wine and think thats. The best one just because its more expensive than the others there are plenty of product examples for this, but the basic idea is that price alone somehow sometimes communicates that the item is more desirable or better, even if the reality is not so simple.
Nfts are in the midst of a financial cycle right now, where the value is artificially inflated. If you have a picture of an ape and sell it to me for a hundred dollars, and then i sell it back to you for 200, then you sell it for 500 to someone else and i buy it again from them for a thousand dollars. Well, i have a thing that is worth air quotes there worth a thousand dollars, but its actually worth nothing and the largest price jumps were a result of me and those close to me trading the asset between ourselves. There was a study conducted, titled mapping, the nft revolution, marketing trends, trade networks and visual features. It seems like a pretty good study which discovered that 10 percent of nft traders account for 85 of all transactions, and they have traded 97 of all nfts, at least once think about what that means. When a group of people are trading assets between themselves in a small, isolated community inflating the value, if a greater fool comes along, remember the greater fool and sees that this thing has jumped and cost five times to a thousand dollars between the same traders. If that fool decides to jump in under the impression it will rise again. Well, you see where this goes. That is what nfts are right now, and these greater fool capitalists are trying to worm their way into gaming. Play to earn is a catchy phrase.
On the surface, because people think that earning money from video games is a dream job, but understanding that any money making activity online instantly becomes infested with bot programs and other undesirable mechanics should immediately dispel the idea that play to earn will be anything but horrible. For video games, bottom line, nft and crypto bros are screaming at the top of their lungs that a technological revolution is coming for. Video games, video game players, the real video game players, they dont want it, they dont care, and they recognize that this technology gives almost nothing in the way of superior utility, except for a very small, very narrow focus, which will probably be exploited to oblivion by major Publishers, your nfts, will not be cross property. Your nfts will not enhance the value of video gaming as a store of value, and your nfts above all else demonstrate your involvement in a greater full scam, which is somehow expanding so quickly. It rivals the dot com bubble. Have fun with that anyway? Thats it. If you want support, please check out locals or patreon im trying to branch away from just ad revenue, also odyssey a youtube platform alternative where all my content can be found, as well as another gaming youtuber to check out merchandise, social media et cetera, et cetera, but Ill cut it there and stop rambling, as always.