Can we please stop with all the NFT stupidity that's been going on. At least here on HN people should be able the make the distinction.
NFTs (Non Fungible Tokens) is just a method to represent a unique thing on a blockchain (it's a 256 bit int), and some extra functionality to transfer ownership and approve operators. Take a look at the interface [1].
Metadata can be attached to this ID. People make the mistake of thinking they bought an NFT of some pixel art. They in fact bought the pixel art. The NFT part of it is the representation of the ID on a blockchain (and the functionality around it)
Using NFT to represent game assets seems logical, that's a step above the pixel art peddled as something of value, when the only value is purely speculative.
I never bought into microtransactions / paying for cosmetic skins... Until I came across a game on steam that released limited sets of items which could them be resold.
It changed it from being an expense to an investment. Some of the items I bought 10x in value, and I sold two for more than I spent on everything.
I also enjoyed using the items in the game.
If steam and the game company both got paid when I bought/sold the items then I'm happy.
These were cosmetic items that didn't give me an advantage... So they didn't make the game less fun, just an outlet for expression.
If GameStop executes well on this and brings in the big publishers, this could be a cash cow.
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[ 3.9 ms ] story [ 19.4 ms ] threadCan we please stop with all the NFT stupidity that's been going on. At least here on HN people should be able the make the distinction.
NFTs (Non Fungible Tokens) is just a method to represent a unique thing on a blockchain (it's a 256 bit int), and some extra functionality to transfer ownership and approve operators. Take a look at the interface [1].
Metadata can be attached to this ID. People make the mistake of thinking they bought an NFT of some pixel art. They in fact bought the pixel art. The NFT part of it is the representation of the ID on a blockchain (and the functionality around it)
Using NFT to represent game assets seems logical, that's a step above the pixel art peddled as something of value, when the only value is purely speculative.
[1] https://docs.openzeppelin.com/contracts/3.x/api/token/erc721
I never bought into microtransactions / paying for cosmetic skins... Until I came across a game on steam that released limited sets of items which could them be resold.
It changed it from being an expense to an investment. Some of the items I bought 10x in value, and I sold two for more than I spent on everything.
I also enjoyed using the items in the game.
If steam and the game company both got paid when I bought/sold the items then I'm happy.
These were cosmetic items that didn't give me an advantage... So they didn't make the game less fun, just an outlet for expression.
If GameStop executes well on this and brings in the big publishers, this could be a cash cow.