NFTs and NFT Content in Gaming Megathread

[ICHEERTHEBULL]

I now hate them even more

 

[SuperFightFreaks]

I think NFTs will be utilized in different ways soon, this is just the first silly adaptation of it.

 

[Gingerdead Man]

Sina Estavi is a “crypto entrepreneur,” who last year bought a digital token representing Twitter founder Jack Dorsey’s first ever tweet. He paid $2.9 million for it, and this month sought to make good on his “investment,” putting it up for auction with an expectation it could net him $48 million. It did not.

As CoinDesk reports, Estavi put the NFT up for sale on April 9, hoping to get around $50 million for it, and then donate “at least $25 million” of that sum to charity.

An auction for the NFT was held, and of the handful of bidders taking part, the highest offer was for...$277.

...

The timing of the sale is certainly interesting. Estavi was just released from prison in Iran, where had spent nine months after being arrested on charges of “disrupting the economic system.” In that time his cryptocurrency ventures crashed, and his attempts to appease those burned by that collapse are being met with scepticism.

Estavi’s auction also came at a time when NFT sales tracked on Opensea—the single largest marketplace in the space—were down around 50% in 2022, from almost $5 billion in January down to $2.5 billion in March. This decline has sparked moves from “blue chip” NFT owners to search for “alternative uses” for their tokens, which is a fascinating development, in that it implies there was ever a use in the first place.​

Sauce (External)

 

[Nova44]

Sina Estavi is a “crypto entrepreneur,” who last year bought a digital token representing Twitter founder Jack Dorsey’s first ever tweet. He paid $2.9 million for it, and this month sought to make good on his “investment,” putting it up for auction with an expectation it could net him $48 million. It did not.

As CoinDesk reports, Estavi put the NFT up for sale on April 9, hoping to get around $50 million for it, and then donate “at least $25 million” of that sum to charity.

An auction for the NFT was held, and of the handful of bidders taking part, the highest offer was for...$277.

...

The timing of the sale is certainly interesting. Estavi was just released from prison in Iran, where had spent nine months after being arrested on charges of “disrupting the economic system.” In that time his cryptocurrency ventures crashed, and his attempts to appease those burned by that collapse are being met with scepticism.

Estavi’s auction also came at a time when NFT sales tracked on Opensea—the single largest marketplace in the space—were down around 50% in 2022, from almost $5 billion in January down to $2.5 billion in March. This decline has sparked moves from “blue chip” NFT owners to search for “alternative uses” for their tokens, which is a fascinating development, in that it implies there was ever a use in the first place.​

Sauce (External)

 

[Gingerdead Man]

In a new interview with Yahoo Japan, the exec said he believed that focusing only on traditional games would be “not enough” for the company going forwards, and described his vision for titles in which users would create content and be rewarded for their work (Matsuda previously said Square Enix could create its own cryptocurrency).

“In the future, we would like to try our hand at providing ‘autonomous game content’,” the president told Yahoo.

“Until now, in most games, we provided the content as a finished product and the players played that content. However, there are a certain number of players in the world who want to contribute to making games more interesting, by creating new settings and ways of playing.”

 

[Law Talkin’ Guy]

Sina Estavi is a “crypto entrepreneur,” who last year bought a digital token representing Twitter founder Jack Dorsey’s first ever tweet. He paid $2.9 million for it, and this month sought to make good on his “investment,” putting it up for auction with an expectation it could net him $48 million. It did not.

As CoinDesk reports, Estavi put the NFT up for sale on April 9, hoping to get around $50 million for it, and then donate “at least $25 million” of that sum to charity.

An auction for the NFT was held, and of the handful of bidders taking part, the highest offer was for...$277.

...

The timing of the sale is certainly interesting. Estavi was just released from prison in Iran, where had spent nine months after being arrested on charges of “disrupting the economic system.” In that time his cryptocurrency ventures crashed, and his attempts to appease those burned by that collapse are being met with scepticism.

Estavi’s auction also came at a time when NFT sales tracked on Opensea—the single largest marketplace in the space—were down around 50% in 2022, from almost $5 billion in January down to $2.5 billion in March. This decline has sparked moves from “blue chip” NFT owners to search for “alternative uses” for their tokens, which is a fascinating development, in that it implies there was ever a use in the first place.​

Sauce (External)

 

[THEfightsAREfixed]

Like case in point a few months back the UFC and Francis “sold” and image of him shooped as the predator, I think for like tens of thousands too. They then posted the same image on the UFC Twitter feed announcing the news of the sale and a sherdogger started a thread sharing the tweet complete with this image.

I honest to god don’t understand how they didn’t just convince this rube to give them a lot of money for literally nothing. I get it there is a block chain verifying his ownership of it… with literally no enforcement mechanism and no way for him to make money off it besides convincing someone else to buy his useless ownership of it?

I admit I haven’t done a lot of research on it. Every time I see it in these threads though I’ve yet to see a good explanation as to what you’re paying for or buying into.

you havent done any research on it but im supposed to care what your ignorant shitty take is and then go point by point trying to reveal the reality to you as you kick and scream

no thanks, go read something before you spread more ignorance

your argument (that sux): there cant be collectible digital goods on the blockchain

previous arguments (that suxxored): there cant be a currency on the blockchain

the reality: you can put both digital goods that are non-fungible and fungible tokens that act as currencies on a distributed ledger and then use it for utility, you can call this crypto-currencies and NFTs or you can call it shits and giggles, the open-source technology is there regardless as well as the active use cases

if none of this really makes any sense to you then that would be logically consistent with your previous postings

 

[Blayt7hh]

you havent done any research on it but im supposed to care what your ignorant shitty take is and then go point by point trying to reveal the reality to you as you kick and scream

no thanks, go read something before you spread more ignorance

your argument (that sux): there cant be collectible digital goods on the blockchain

previous arguments (that suxxored): there cant be a currency on the blockchain

the reality: you can put both digital goods that are non-fungible and fungible tokens that act as currencies on a distributed ledger and then use it for utility, you can call this crypto-currencies and NFTs or you can call it shits and giggles, the open-source technology is there regardless as well as the active use cases

if none of this really makes any sense to you then that would be logically consistent with your previous postings

My take? I said I didn’t see the benefit sand ASKED what it was. You then go ahead and only explain how a block chain works, which I do understand and didn’t ask for. Great reading comprehension, dingus.

Whatever, lose your money on some NFT scams. Have you already lost some money on them? Is that what this angry manlet bullshit from you is about?

 

[THEfightsAREfixed]

My take? I said I didn’t see the benefit sand ASKED what it was. You then go ahead and only explain how a block chain works, which I do understand and didn’t ask for. Great reading comprehension, dingus.

Whatever, lose your money on some NFT scams. Have you already lost some money on them? Is that what this angry manlet bullshit from you is about?

yeah your shit take, how the hell can you understand "blockchain" and not understand NFTs, literally just a non-fungible token

It’s not the same as magic cards though. You physically own that card. People can’t just take it from you and use it. All these NFTs though you can just take and use. Like why are people buying a gif that I can just go google and get off google images and serve to my desktop and use on Sherdog? That’s not ownership. You can’t stop people from using the image you allegedly own.

Maybe I’m missing more to this. It just sets off my scam alarm

wrong wrong wrong wrong wrong

you are missing pretty much all of it mr blockchain

 

[Blayt7hh]

yeah your shit take, how the hell can you understand "blockchain" and not understand NFTs, literally just a non-fungible token


wrong wrong wrong wrong wrong

you are missing pretty much all of it mr blockchain

Why are you even talking about the blockchain? You don't think that that is what gives it it's value do you?

 

[THEfightsAREfixed]

Why are you even talking about the blockchain? You don't think that that is what gives it it's value do you?

its just part of the natural evolution of trying to decentralize stuff, now we will hold data for items on a blockchain, its really that simple and art is one of the obvious and easy avenues for itemization as doing supply-chain and logistics of a whole bunch of goods isn't feasible with how expensive space on the blockchain is, im kind of just being inflammatory on purpose because it makes discussion more spicy i hope you are aware of that

so NFT = non fungible token, which really just means unique pieces of data on the blockchain, whereas a bitcoin is not unique, and actually technically there isn't even really a bitcoin at all, there is just value transactions between address and the "bitcoins" are just an arbitrary unit of measurement for accounting

 

[Blayt7hh]

its just part of the natural evolution of trying to decentralize stuff, now we will hold data for items on a blockchain, its really that simple and art is one of the obvious and easy avenues for itemization as doing supply-chain and logistics of a whole bunch of goods isn't feasible with how expensive space on the blockchain is, im kind of just being inflammatory on purpose because it makes discussion more spicy i hope you are aware of that

so NFT = non fungible token, which really just means unique pieces of data on the blockchain, whereas a bitcoin is not unique, and actually technically there isn't even really a bitcoin at all, there is just value transactions between address and the "bitcoins" are just an arbitrary unit of measurement for accounting

If we go back to my original point though these “arts” aren’t actually unique. It’s not like owning an original painting vs a replica. They’re literally the exact same with only the block chain to verify which is the “original”. Block chain is just an enforcement/authentication tool. It’s not giving these things any value it’s just making the concept possible. This works with crypto because it derives its own value. I’m still failing to see any real value to an NFT.

NFTs are not about decentralization. What would it even be decentralizing? There is no centralized gifs or memes.

 

[THEfightsAREfixed]

If we go back to my original point though these “arts” aren’t actually unique. It’s not like owning an original painting vs a replica. They’re literally the exact same with only the block chain to verify which is the “original”. Block chain is just an enforcement/authentication tool. It’s not giving these things any value it’s just making the concept possible. This works with crypto because it derives its own value. I’m still failing to see any real value to an NFT.

NFTs are not about decentralization. What would it even be decentralizing? There is no centralized gifs or memes.

You are talking about just a narrow use case, you need to go out and look at the big NFT projects, like Bored Ape Yact Club and their APE token, and there are a few others. The NFTs can represent anything, so it’s decentralizing a club membership and a piece of artwork. In the same way you want to be able to prove you control an address with bitcoins in it, you want to be able to prove you control an ethereum address with NFTs on it, then be able to send those NFTs to someone else and then they have them, these NFTs could represent digital items like a rare item in World of Warcraft, or a digital artwork, a club membership etc. These things while you may not value them personally have real world value.

 

[rob mafia]

its just part of the natural evolution of trying to decentralize stuff

 

[THEfightsAREfixed]

it really is tho, these nerds want to decentralize everything these days

 

[Neph]

I'm still assuming this is just a fresh market for illegal funds.

https://ftw.usatoday.com/2022/02/bitcoin-steam-fraudulent-valve-gabe-newell

Valve president Gabe Newell says that half of Bitcoin purchases on Steam were fraudulent.

Back in April 2016, Valve began allowing Bitcoin as a purchase option on Steam. Though support did not last long, as in December 2017, the company announced it was dropping Bitcoin support.

During a new interview with PC Gamer, Valve president Gabe Newell revealed that fraud played a considerable part in Steam ditching Bitcoin, and it sounds like he’s not a fan of cryptocurrency in general.

“The problem is that a lot of the actors who are in that space are not people you want interacting with your customers,” Newell said. “We had problems when we started accepting cryptocurrencies as a payment option. 50 percent of those transactions were fraudulent, which is a mind-boggling number. These were customers we didn’t want to have.”

 

[KaNesDeath]

 

[SwamiLeoni]

I'm still assuming this is just a fresh market for illegal funds.

https://ftw.usatoday.com/2022/02/bitcoin-steam-fraudulent-valve-gabe-newell

Valve president Gabe Newell says that half of Bitcoin purchases on Steam were fraudulent.

Back in April 2016, Valve began allowing Bitcoin as a purchase option on Steam. Though support did not last long, as in December 2017, the company announced it was dropping Bitcoin support.

During a new interview with PC Gamer, Valve president Gabe Newell revealed that fraud played a considerable part in Steam ditching Bitcoin, and it sounds like he’s not a fan of cryptocurrency in general.

“The problem is that a lot of the actors who are in that space are not people you want interacting with your customers,” Newell said. “We had problems when we started accepting cryptocurrencies as a payment option. 50 percent of those transactions were fraudulent, which is a mind-boggling number. These were customers we didn’t want to have.”

Curious to see how they came to the conclusion the transactions were fraudulent. In 2017/2018 it was difficult without manpower to track and trace every BTC wallet address to see it's usage history. There are tools now that make it easier, but it would still take a long time to see where the bitcoins traveled from without a small team working for you. From the article you posted 'Dropping Bitcoin Support' it says the reason they gave was the wild volatility. Have to agree with him on the insane amount of scammers in the space. I get a message every other day from someone trying to scam me.

"Hello sir, sorry to invade your privacy" or "Hello sir, how is your trading going". rinse and repeat. It's the wild west out there.

 

[KaNesDeath]

Curious to see how they came to the conclusion the transactions were fraudulent.

Likely stolen crypto used to purchase game keys that were being sold on third party websites.

 

[SwamiLeoni]

Likely stolen crypto used to purchase game keys that were being sold on third party websites.

Tracing stolen crypto in early 2018 would have been difficult and labor intensive, especially with the 50% as he says. Steam used BitPay which could have very well been the reason for the fraud. My guess is that it had more to do with people purchasing BTC with stolen cards / gift cards over stolen crypto and Bitpay was allowing it.

That said, my bet is the bigger issue was the volatility.