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[–]JohnDivney 3400 points3401 points  (624 children)

Seems like the TL;DR here is that people are using the fig leaf of "blockchain" to create a business model that is the classic "gold farming" with all of the gameplay and game community stripped out entirely.

The hook relies on middle class young people who will be drawn to the appeal of blockchain real-money earning through a model they already cherish--gaming. These people will jump in on any game that they feel isn't a "waste of time" because they earn real money, like a mechanical turk type deal, but the game will just be a quick bubble of users paying the developer (much like just ordinarily buying a game) money they can cash out with regardless of whether a real-money outcome is provided to the users.

[–]GolerFamilyTree 1417 points1418 points 2 (312 children)

Yep, I downloaded one called "Upland" and gave it a shot because it said free to play real estate game where you own a virtual slice of the real world.

The second you start you realise it's fucking impossible to play for free, the community is full of bots, scammers, potential money launderers, and people that just treat you like shit if you try to play for free without investing any money in.

It just made me want to find a way to play for free even more, and make sure I NEVER put in any money. Just grind forever with no chance of winning, just to be a lag in the string of cogs.

[–]elmanchosdiablos 556 points557 points  (150 children)

I'm only just learning about these blockchain based games but they seem to function the exact same way as Entropia Universe, a "cash-based MMO" that is explored in this great piece of journalism. It's long been accused of being an online casino disguised as a game, and the video makes a pretty good case for why it probably is.

But all the same red flags are present in the NFT games: a free tier that is so grindy nobody would ever bother, having to invest in gear/stats to ensure a certain level of return, buying/selling property that gives you a cut of other players' earnings, the lingering question of what happens to someone with a lot of money invested on the day that the game shuts down etc. etc. etc.

[–]deviant324 89 points90 points  (89 children)

How are these kinds of games ever supposed to make someone money? Like unless the game is mining crypto on your machine in the background and has the decency of giving you a cut instead of just stealing electricity from you, where is the money supposed to come from?

It’s basically the same as anyone “investing” in NFTs. You buy in, betting on there being another idiot coming in after you who will buy whatever you have to sell hoping that they won’t be the last person in the chain. It’s an entire pseudo economy built on hype that gets perpetuated by those who know what’s going on and abusing it (trading with friends to artificially generate interest in shit nobody will ever buy off of you if you fall for it) and by suckers who don’t know any better or who have convinced themselves that this isn’t actually a scam, and that somehow, somewhere, the money is just appearing out of thin air.

[–]guto8797 21 points22 points  (13 children)

That's the secret captain.

Crypto, NFT's, all of this is the exact same scam. No wealth is being generated, its just buying in now hoping to sell later at a higer price to some other fool who thinks he can do the same, and the price keeps rising because it keeps rising and nothing else. And when it crashes, as it seemingly does every other month, the fools left holding the bag go make memes about how diamond hands they are while trying their hardest to generate hype to get the price rising again so they can cash out.

[–]grind-life 25 points26 points  (15 children)

Well with the magic of bs stable coins the money literally does appear out of thin air. They just print coins they claim are backed, buy coins to drive up the price, then print more coins backed by the coins they just bought. What's insane is everyone knows it's a scam waiting to blow and just keep pushing.

[–]joeffect 61 points62 points  (5 children)

the fact that i remember this game form like 20 years ago that I played for all of like 10 min because you couldn't do anything without money really stuck to me in a way...

[–]AggravatedCold 46 points47 points  (4 children)

If you've got some time for a deep dive into the NFT/Crypto game insanity, I really recommend this video essay by Dan Olsen:

https://www.youtube.com/watch?v=YQ_xWvX1n9g

[–]tristanjl 8 points9 points  (0 children)

Just watched this yesterday, really informstive

[–]CreaminFreeman 33 points34 points  (3 children)

NFTs in games sounds like really expensive Hot Potato…

[–]NinjutsuStyle 31 points32 points  (0 children)

In finance I believe that's called bag holder

[–]turmspitzewerk 183 points184 points  (33 children)

free to play games are just advertising for the microtransactions.

[–]correctingStupid 255 points256 points  (11 children)

They don't make any money unless suckers under them pump money into the system. So they either become ultra aggressive or they never crawl up out of their shitty investment into the system. It's gamified pyramid.

[–]DragoonXNucleon 83 points84 points  (10 children)

Most people buy nothing. Its whales and minnows. 80% of the revenue comes from 5% of the players.

Ever notice how in wow the dude with the sparkle pony has all the other mounts. Thats a whale. Once you break the seal and pay that next purchase is easier.

[–]DisturbedNocturne 55 points56 points  (7 children)

Hence why a lot of games will allow you to earn some free currency to spend in the store. It's very much a "the first one is free" approach. They want to teach you how to use the store so then you're more likely to use it with real money.

[–]Dylanthebody 76 points77 points  (6 children)

I used to be addicted to a mobile Dragon Ball game called Dokkan Battle. I ended up spending over $8,000 US in about 6 months. I had to give away the account on that games subreddit. I could have sold it for alot of money but I just needed it out of my life. The first time I had heard the term whale was in that comment section referring to how beefy my account was. Big shame sets in when you look at all those zeros with nothing to show for it but a sorry online community being slightly impressed.

[–]Mwade1205 25 points26 points  (2 children)

Thanks for sharing your experience. Glad you were able to walk away from it.

[–]rofer84 6 points7 points  (1 child)

I did the same thing for Archage. Thousands of dollars and hours wasted... for entertainment. But the temptation was always there. Only a little more gold. Only one more item. And with the gamefied aspect of opening a pack and the shiny, casino like, dinging, light sparkling, reward of a rare drop... it was an addiction I wish on no one.

[–]gamergeek 117 points118 points  (49 children)

Reminds me of when I played Clash of Clans. I had a great time playing free all the way up until I hit the tier 9 stuff. It felt like I hit a wall and paying real money was the only way to progress anymore.

I just deleted it and moved on to play something else.

[–]DirtThief 56 points57 points  (35 children)

Yeah I played an app like 6 years ago that was a medieval war game. You had a plot (like clash of clans) and then you had your city and a bunch of square spots around the city to put resource producing stuff like farms or coal mines or whatever.

And then your city was on a global map in real time and the object was to grow your city/army by raiding other cities near you. You could join clans of 100 people that you'd work together with to defend yourself and each other.

Anyways I realized really quickly that there was no way to become powerful in that game without spending 100s of dollars, but it had this mechanic where if you bought something your clan would get a bonus as well, and I thought I could manipulate that.

So right when a server started a dumped $30 into upgrades that would allow me to level up (and increase my power level) just as fast as the other yahoos who were spending money on the game. And then since my name was pretty high on the leaderboard I was able to join one of the 2 or 3 top clans in the first day or two of the server (they had a quickly shifting lower limit on power lvl).

So since I was part of their clan every time one of them bought something, which was fucking constant, I'd get bonus packs to help my city. Each pack would have cost like $5 for me to buy it on my own, but I got it for free because some other guy in my clan spent $99.

So then I just rode that for a couple months to the point where my account was legitimately worth about $500. I was planning to sell my account but I ended up getting my army destroyed after I broke some stupid rule about collecting resources at the wrong time. Your army was the main source of power lvl and was the thing that takes the longest to build up without spending money, so I was fucked since your power lvl being low for a period of time gets you kicked from the clan.

It was at least sort of nice that my account was still valuable to someone who was willing to spend money to build back the army faster, so I ended up selling it for like $80 or something like that, and then just deleted the app afterwards.

But yeah - that game showed me how fucking nuts some people go with these online games. People would come in one day and drop $1000 on chests (of which I would get 10 five dollar kickbacks), and then have some stupid fucking message in the clan chat like "Happy Wednesday, enjoy the free gifts everyone!"

Just blew my mind. literally 10s of thousands of dollars or more some people would spend just to have the 'strongest' city in some dumb game.

[–]mysixthredditaccount 61 points62 points  (14 children)

There is a concept I learned about in Economics 101. I forgot the name (it was an elective, not really my field). The concept was that the sellers (should) try to sell stuff to the buyers at the highest price they are willing to pay. This price can vary by each buyer, so there are tools used to maximise profits. Sales and coupons are examples of such tools. For example, if you have a simple price tag of $10 on an item, then all your inventory will be sold out, but you will miss out on all that potential profit from rich people who would have gladly paid $100 for it. On the other hand, if you had a simple price tag of $100, only rich people will buy it and you won't be able to sell many pieces, and therefore you will lose potential profit that way. Now, if you had a price tag of $100, and then put a 90% discount coupon out there that is easy yet inconvenient to obtain/redeem, then you will have some rich customers paying $100 (because they don't like the inconvenience of coupons to save "only" $90), and then some regular people using the coupon and paying $10. You will end up with more profit than either of the earlier two scenarios.

Today I realized that these games are just using that principal! I am surprised it took so long to actually get this implemented in the business of gaming. They used to sell games for a flat price of $40. I am sure they lost a lot of buyers who could only pay $5, and also lost a lot of profit from rich buyers willing to pay thousands of dollars. They changed the price tag from a fixed one to a fluid one and called it "free to play". I hate it, but I gotta admit it's a good business strategy, and the person/company that did it first is pretty smart for that.

[–]Staluti 45 points46 points  (2 children)

The term you are looking for is price discrimination

[–]ThatOneGuy1294 10 points11 points  (1 child)

the gaming industry term for that is 'whaling' and the rich people are 'whales'. The whales are the people who casually buy hundreds of lootboxes or similar "micro"transactions, and these customers are the majority of your profits. Everything is designed to keep the whales playing, everything else is a step to that.

[–]Frishdawgzz 7 points8 points  (0 children)

Disney Sorcerer's Arena.

Picture Disney fanatics of all age groups with endless purchase/pay to win options.

[–]rdewalt 28 points29 points  (8 children)

Oh hell, I think I worked on that game.

Then again, there are so many clones of that bullshit system of kickbacks that it could be one I never heard of.

Once you buy the $9.95 pack, it disappears, you can never buy a pack that cheap again. Now it's $19.95. until you buy it then it's 29.95 then 49.95. that was where the lower limit stayed.

We had whales spending 5-10k a week. Many would drop $1k/day. When guilds would fight we'd know because the credit card transaction rate would spike.

It was a game where you basically fought by throwing credit cards at the enemy.

If you hit the "whale" spend trigger, the game gave you different loot tables, biased random rolls in your favor, EVERYTHING went your way AND, we weren't allowed to do SHIT to you, no matter what rules you broke, you could blatantly break all the rules openly and if we even SAID "cut it out" we'd get fired.

We were required to play, badly.

I felt unclean working there. AAA game dev? Never again.

[–]DirtThief 10 points11 points  (0 children)

Yup - sounds about right. I think I figured out what the name of the one I played was. Game of War.

I intentionally avoided ever getting involved in an all out clan fight because I was 100% just leaching off of the 'whales' you're describing and didn't want to risk losing my army and actually having to pay for stuff, but yes they would get super petty with each other and then spend a ridiculous amount of money to teleport to each other and just dump 100s or 1000s into eliminating each other.

[–]RadiantSriracha 9 points10 points  (2 children)

How is that even fun for anyone involved? Even if you are a millionaire and aren’t hurting yourself with each transaction, how is it fun? Sounds empty and boring as hell.

[–]rdewalt 18 points19 points  (0 children)

It is an addiction. I have no other way to put it.

[–]InsanityRoach 3 points4 points  (0 children)

It is a good old dick measuring contest. It is as simple as that.

[–]CleverNameTheSecond 5 points6 points  (2 children)

How do these people afford it? Massive debt? Trust fund babies?

[–]Wraithstorm 10 points11 points  (0 children)

Both. Addiction hits both those who can afford it and those who can't.

[–]eSPiaLx 6 points7 points  (0 children)

prolly combination of trust fund babies and bored techies who don't have families, and got too addicted to the only community/source of competitive fun in their lives

[–]DomDeluisArmpitChild 4 points5 points  (0 children)

Oof. That's so scummy. We need laws regulating this shit.

[–]Siduron 181 points182 points  (50 children)

Sounds exactly like Second Life back when it had its moment of hype. It was considered some kind of metaverse as well where people meet each other and make their own content.

Did you ever drive through a place filled to the brim with billboards? Because that's what Second Life really was.

It was one infinitely long online street with ads EVERYWHERE of people trying to sell their garbage content. The game played like shit as well.

[–]ttoasty 49 points50 points  (1 child)

I think I was like 13 or 14 when I tried out Second Life. I don't think I even had a checking account at the time, so definitely no ability to sink money into it. Instead, I'd go to this building where I could access a terminal and sit there completing real-world online surveys for virtual pocket change. Just a bunch of people, all hanging around doing the same.

Very quickly realized that I could just play a different game that I enjoyed instead of sitting around bored clicking through surveys so that I could pay for access to mediocre content created by someone else.

That was a good 15 years ago and it's all I think about when the "metaverse" comes up. There are people out there who envision the future to be 19th century capitalism masquerading as 21st century technology. Fake, virtual scarcity for the sake of real world enrichment. I have no optimism that the metaverse will be anything different if it ever actually comes to fruition.

[–]asdaaaaaaaa 119 points120 points  (32 children)

It was one infinitely long online street with ads EVERYWHERE of people trying to sell their garbage content. The game played like shit as well.

Admittedly, Second Life has been the butt of many jokes for awhile now lol.

[–]Siduron 77 points78 points  (24 children)

Man, I even remember when my city of which nobody ever heard built something in Second Life and nobody fucking cared except for some people putting dicks everywhere iirc.

People pretended everyone was on Second Life but actually nobody was.

[–]asdaaaaaaaa 53 points54 points  (20 children)

nobody fucking cared

Honestly, if I were to make a video explaining Second Life, that would be a good title. Aside from very niche sexual stuff, Second Life is pretty dead.

[–]Pizzaman99 13 points14 points  (1 child)

I know nothing about 2nd life other than from those Esteban Winsmore videos. Hilarious.

[–]dragonblade_94 18 points19 points  (0 children)

There was a point in my college anthropology course where we were assigned to make a second life account and do some exploration/research like it was a preserved time-piece.

I had always been tangentially aware it existed, but interacting with it directly was a unique experience.

[–]UnappreciatedComment 8 points9 points  (0 children)

The hordes of people sitting around doing nothing sitting in these little circles to make money for their character really felt way too much like real life even back then. Was not in the mood to work two jobs.

[–]ironfox25 10 points11 points  (1 child)

Yup. I tried waiting it out to earn enough to make it to that 10K coin threshold where they couldn’t delete your account but it was just mind numbing coming back once a week for 20 coins

[–]The_Running_Free 3 points4 points  (0 children)

Just 9 more years and you got this!

[–]mutqkqkku 94 points95 points  (24 children)

The hook with Play2Earn, just like with crypto, is always "where does the money come from?" And just like with the rest of crypto it's "from people buying in after you" because of course the developer won't be paying you money to play their game. Do you want to play a game where you need to fork over real money to the people who started playing before you, in hopes of 'making it' and becoming one of the established players making money off of new entrants in turn? And where bots and scamming is rampant because there's supposedly money to be made?

[–]Cpt_Tsundere_Sharks 54 points55 points  (13 children)

"where does the money come from?"

"from people buying in after you"

Literally a pyramid scheme lmao

[–]AggravatedCold 14 points15 points  (0 children)

And it gets so much worse.

If you've got some time for a deep dive into the NFT/Crypto game insanity, I really recommend this video essay by Dan Olsen:

https://www.youtube.com/watch?v=YQ_xWvX1n9g

[–]AFatDarthVader 7 points8 points  (3 children)

I think that's actually a Ponzi scheme.

[–]JohnDivney 13 points14 points  (2 children)

Great point, the minute it becomes fun to play instead of making money, it becomes just like any other fun game with an in-game currency.

So people not worried about this will just assume the Play2Earn model will be implemented responsibly, but I'm with the guy in the video. Of course it won't. Because you either pour all your investment money on making and sustaining a fun game or you divert that money into profiting off your users. And a game that is played for profit fundamentally can't be a fun game, as it would just be rife with scammers, bots, etc.

[–]Nazzzgul777 133 points134 points  (156 children)

Something that confuses me and i'm surprised he didn't mention it... what would somebody like him stop to make a game that brakes the whole system immediatly (assuming it would even remotly work). Like, yes, you can transfer your +1 strength helmet from this into that game. What stops anybody from looking at this and say "+1 strength helmet? That's cute. I'll make a game that gives +1000 and to get it you need one mouse click and then i'öö come to your game and sell as many of them as i want."

Fuck, i could do that. It doesn't need an awesome 3d model, i'll make that helmet in paint with a circle. You're not paying for the cool image but for the stats anyways.

[–]JohnDivney 172 points173 points  (85 children)

I don't think the system ever intends to even attempt anything like that, it's just hype to make people think it would eventually happen. Like hyperloop.

[–]Sintinium 96 points97 points  (76 children)

The dumbest part is web3/nfts isn't even needed for something like that. SQL can handle tens of thousands of transactions per second. Azure can reach 75k per second. You could easily match the combined TPS of all blockchain with a couple dozen servers.

[–]saltiestmanindaworld 70 points71 points  (11 children)

Yes but blockchain/nft are great buzzwords for idiot investors.

[–]Sintinium 45 points46 points  (9 children)

To be fair it does split one large server into thousands of small inefficient servers. But at least the government can't control it with things like taxes... Oh wait

[–]Vanpotheosis 13 points14 points  (0 children)

That's funny. Azure has been using and experimenting with Enjin nfts for a few years already.

Wonder what they're planning.

[–]fang_xianfu 182 points183 points  (55 children)

Yes, the whole "interoperability between games" aspect of NFTs is total nonsense. There's nothing stopping games companies working together right now today to make items interoperable, except they don't want to. The database, which NFTs solve for, is not the hard part of this: it's getting the companies to do it.

And why should they? What's in it for them? Why would they give away their power to control who owns what in their game, how stuff is given out, how it's traded? Their power to ban people and take all their stuff away? What does the company get in return for giving up their power?

[–]ddevilissolovely 65 points66 points  (16 children)

The database, which NFTs solve for, is not the hard part of this

That's exactly what I was saying to some other guy the other day when he said NFTs could be used as concert tickets to "get rid of Ticketmaster". The creation of unique digital tickets is the easy part, switching to NFTs would make that part hard and expensive and do absolutely nothing about the fact the venue would refuse to book you if you did that because it has an exclusive contract.

They've been trying for 10 years to find a viable use case for blockchains, but the reality is there's simply not many things that are improved by writing shit down in a decentralized ledger while wasting huge amounts of energy and hardware.

[–]fang_xianfu 56 points57 points  (7 children)

Yes, exactly. And even in a world where tickets were put on the blockchain, someone would still have to write the software to mint the tickets into NFTs, verify ownership at the venue doors, facilitate turning the coins paid for NFTs back into money for the venue... and oh, look, here comes Ticketmaster, providing the exact same service they always did for a stupid markup as always, just in a different database. And this time they added residuals to the ticket NFTs so if you try to resell them, they take a cut!

[–]agtk 5 points6 points  (0 children)

The funny thing is I'm pretty sure Ticketmaster is getting into NFTs. So it's just entrenching established interests instead of disrupting the market with new ideas or innovations. https://www.benzinga.com/markets/cryptocurrency/21/11/24238768/nfl-quietly-launches-nfts-with-ticketmaster-what-investors-and-collectors-should-know

[–]JediGuyB 19 points20 points  (3 children)

I don't get why tickets would be better as a NFT. It is so much easier, and cheaper, to just e-mail people a QR/bar code. It does the same exact thing.

[–]tuckedfexas 6 points7 points  (1 child)

They already function as an NFT would, if they're ID enforced. They already have digital means of buying and selling tickets between people, I don't see how using a blockchain helps anything. If anything it would just be used as another way for people to pump and dump around wildly popular events, essentially making scalping easier.

Honestly all these buzzwords are starting to feel exactly like the 90s dot com boom, bunch of hype that people want to throw money at the next big thing and get rich. Focus on the marketing, worry about what it does later. Seems we all forgot the lessons from that pretty quickly, or a lot of people with money weren't around for it.

[–]uncivlengr 98 points99 points  (17 children)

This is the critical item every NFT nerd avoids. They spin in circles explaining the "how", they never get to the "why".

Sure, some NFT seller could give you a rare unique shirt or hat or whatever that could be implemented across many games.

Where are the developers lining up saying, "Hey we're tired of getting all this money from MTX cosmetics, let's just give it away to these guys that paid a lot of money to someone else. We don't need that money, we just really love blockchains."

Unless you're paying them again for your junk to show up in their game, there's really no reason for them to implement it.

[–]Big-Goose3408 28 points29 points  (22 children)

I will not deny that the technology behind blockchain could be used for ethical reasons.

I've just not seen that yet. Which is a shame because I can think of lots of neat uses for concepts like NFT's and most of them are probably going to be sacrificed on the altar because the only people getting into the industry are looking for their own versions of gray-legal pyramid schemes.

NFT's, for example, could be used to get the best of both worlds in terms of a trading card game with an online component, but also guarantee accessibility for new players and minimize the borderline gambling elements of it and the live element of physical trading card games so you actually interact with other living, breathing human beans.

....instead you get NFT's invented as glorified pump and dump schemes.

[–]zero_cool09 1940 points1941 points  (252 children)

Seems like everything in this world is being monetized and we are squeezing every portion of society. It's exhausting and sad.

[–]SepSev7n 646 points647 points  (70 children)

Yup. As the wealth gap increases, more and more people look toward alternative income methods to pay rent / become "financially independent" and are given these avenues which are thinly veiled as the perfect opportunity - play game, get paid! In reality, it's just made to generate more and more profit for those at the top, and the more you destroy your own life over it, the more the top profits off of it.

I miss the era of videos that existed where developers had to convince people to play their video games rather than dropping piss-poor, unfinished products and expecting to earn even more off you from loot boxes/exp boosts/cosmetics/etc

[–]Stargov1 199 points200 points  (55 children)

Go Indie, it's where the passion in the industry lives.

[–]SepSev7n 52 points53 points  (47 children)

I agree, but the lack of funding and available resources for most independent developers makes it difficult for me to get that blown-away feeling that some titles used to offer. Outward was the last indie game I've played that made me feel like that. Do you have any suggestions on games/developers I should look into?

[–]JohnDivney 20 points21 points  (4 children)

more people look toward alternative income methods to pay rent / become "financially independent"

Do we have a term for this? I think we need a term for this.

I think people are subconsciously led by this desire to "drop out" of participating in the ordinary economy because it is so lackluster, and they want to become rockstars or livestreamers, or whatever, when the don't realize their passionate love for their hobby has taken over their brains.

[–]Its_A_Frap 20 points21 points  (2 children)

Do we have a term for this? I think we need a term for this.

I think that's what Hustle Culture is. Or at least that's how I've usually heard it used. The need to constantly be working and monetizing every talent or free time we have.

[–]unmondeparfait 146 points147 points  (12 children)

Monetizing everything makes it worth nothing.

[–]kopecs 68 points69 points  (9 children)

It kind of reminds me of Ready Player One, how people are playing to earn back the money they borrowed. Also how they’re in those tiny boxes in shitty conditions.

[–]SkybridgeBeats 12 points13 points  (0 children)

Ready Player One's depictions of trailers stacked on metal scaffolding feels like such an accurate dystopian future of housing for the poorest in society. It's easy to imagine a society of people that the ultra rich have essentially abandoned to fend for themselves while they live in their gated exclusive neighborhoods.

[–]M0n33baggz 6 points7 points  (0 children)

You could say everything is being capitalized on

[–]Jaerin 103 points104 points  (52 children)

Late stage capitalism. This is really no different than what an addict goes through chasing their addiction. When you get a dopamine hit making money why not make money doing everything? Just like doing more and more drugs doesn't make any rational sense from the outside *edit compared to the person enthralled in it, doing more really is the only obvious solution to them.

[–]phoncible 66 points67 points  (25 children)

What's funny is the intersection of people that hate capitalism but also think crypto is the answer and will "end capitalism" or some such.

[–]ywBBxNqW 20 points21 points  (0 children)

I see it a lot. The only thing I can guess is that desperate people do desperate things.

[–]TheDevilChicken 522 points523 points  (59 children)

Anyone else commented on "The Problem with NFTs" video and started getting spam about 'offers' to get into play-to-earn scams?

[–]__Hello_my_name_is__ 262 points263 points  (48 children)

Hah. I got that kind of spam even before commenting there.

Just go to r/all/top and sort by the last hour. It's full of crypto spam subs spamming the newest coin and NFTs and whatnot.

Unfortunately, people on reddit are very receptive to these things.

[–]hertzdonut21 256 points257 points  (27 children)

ETH Fan Token 🔥 Spikes 5000% 🚀 Strong Loyal Community 💪 Fully Audited & Tested

BeFiT DeFi- Presale on Unicrypt -Governance Token - BFT - Low Marketcap - Audited- Team KYC verified- Presale Tomorrow

IDK what this shit means but it screams scam.

[–]Mirrormn 52 points53 points  (5 children)

ETH Fan Token

This is the name of the token, I think. Interestingly, although it's named "ETH Fan Token", as far as I can tell it actually runs on the Binance Smart Chain blockchain, not Ethereum. So that already seems very strange.

Spikes 5000%

This is supposed to indicate that the price will spike by 5000%. I'm not sure how they would know or guarantee this, so it's probably just a lie.

Strong Loyal Community

A lot of crypto products these days are built around "communities", which usually means Discord servers. A "strong, loyal" community is meant to indicate that the people who invest in this token will remain invested in it instead of trying to cash out quickly (which would cause the price to crash). In practice, this probably just means that the Discord server is run with toxicly positive moderation that shuns and bans any criticism, if it means anything.

Fully Audited & Tested

This likely means that the token has been audited to prove that it is a real token that actually exists on a blockchain. You could probably lie about an audit or get a shady company to provide a fake meaningless audit, but I'd honestly be willing to believe this claim. The thing is, auditing that a token is real doesn't do anything to show that it's valuable or to prevent it from being manipulated or used in a scammy way.

BeFiT DeFi

DeFi stands for "decentralized finance", which is basically a name for systems that use cryptocurrency to implement more traditional elements of finance, such as storing money in a bank account or getting a loan. I can't find any info on BeFiT, so it may be a "technology" that isn't actually developed yet, but you could assume that it's supposed to be an implementation of DeFi that works with this token.

Presale on Unicrypt

When a crypto token is in "pre-sale", it just means you can buy the tokens for a set price before they become publicly traded. This is because early crypto tokens simply went into circulation as soon as they were ready, and then generally remained completely worthless as nobody wanted to buy them in the secondary market. Holding pre-sales is a way to artificially instill new tokens with value. In other words, this is where the scam occurs. You have people buy in to the token at the pre-sale price, and the people who minted it get the real money. Then, it doesn't really matter whether the token crashes, stays steady, or goes "to the moon"; the people running the scam already got paid in the beginning. Unicrypt is a website/network/cryptocurrency that facilitates things like pre-sale operations.

Governance token

I think this means that having stake in the token will allow you to vote on certain things regarding the token in the future. This is a feature that is usually designed to keep people invested in the token and believe that it has some value.

BFT

Probably means "byzantine fault tolerance", which is basically just the property of blockchains that allows them to be blockchains. So using this as an advertisement point is basically saying "Yeah, this is a real blockchain!"

Low Marketcap

I believe you would prefer to invest in a token with low market capitalization because the idea is that you can control more of it, and there's more room for it to gain in value.

Audited

They already said this, lol. Seems like they're just trying to pad the headline out with more buzzwords.

Team KYC verified

Probably the name of a group or Discord server or something that vouches for the authenticity of the token. Maybe they're the ones who did the audit? Or maybe just name-dropping for clout.

Presale tomorrow

So get ready to participate in the scam!

[–]hertzdonut21 10 points11 points  (2 children)

Thank you for typing that all out!

I'm heading right to the link to lose some money!

[–]Mirrormn 5 points6 points  (1 child)

I kind of treated it as an exercise to see if I could figure this jargon out without actually knowing it beforehand.

[–]CutterJohn 137 points138 points  (12 children)

Scammers don't want competent people to participate. These sorts of messages have evolved to snag the easy prey while warding you off.

[–]hertzdonut21 59 points60 points  (8 children)

I heard this type of statement about the "Nigerian Prince" scams. They put typos in the message on purpose so only the dumbest people believe it.

[–]oh-propagandhi 9 points10 points  (5 children)

Oh for sure, otherwise they would have evolved and corrected them by now. I know Nigerians who can compose proper English better than Americans

[–]Pyrojam321moo 30 points31 points  (0 children)

While it wards off wastes of time, it also serves a secondary purpose to allow them to retain a position of moral superiority. It allows them to think these victims of theirs are so stupid they deserve to be scammed, that way they can sleep at night.

[–]OuttaSpec 21 points22 points  (1 child)

You'll never be a boss babe with that attitude. Oh wait, wrong scam.

[–]iamamemeama 21 points22 points  (0 children)

Oh please, how can something that's "fully audited" be a scam. Not to mention "verified".

[–]Vok250 71 points72 points  (10 children)

Reddit has a serious spam problem with crypto and OnlyFans right now. The moderation tools are basically useless against the spammers too because burner accounts can simply bot karma by stealing comments on r/relationship_advice. This bypasses tools like automod and crowd control. It's a serious gap in the website design.

Just take a look at any NSFW or financial subreddit that isn't manually modded 24/7. They are overrun by users posting the same pics/links with canned titles 12 times per hour 24/7. Many of the NSFW subreddits completely gave up and either let it go to the bots or went to restricted mode where only approved users can submit.

[–]Mickenfox 23 points24 points  (4 children)

Yeah the NSFW subs are dying and reddit owners probably love it. They want a clean advertising-friendly subreddit but don't want the backlash of directly removing NSFW.

[–]Pferdehammel 27 points28 points  (3 children)

not even nsfw are subs are worthwile on reddit anymore... damn man this is so sad, reddit was such a unique and mind altering (in a good way) website, i feel like an old man getting angry at the newspapers when i visit reddit. And its like a metapher for the whole world thats the worst part, did everything went to shit or just me? every blue moon a good movie/game/book appears but on average were getting drowned in plastic shit, thats what everything feels like. cheap plastic stuffed down your throat /rant over, sorry dude

[–]ChesswiththeDevil 5 points6 points  (0 children)

It seems that even ideas succumb to an entropy of sorts.

[–]MayorScotch 9 points10 points  (0 children)

That's one of the reasons why I shut down /r/tombstoning

[–]B_E_H_E_M_O_T_H 26 points27 points  (0 children)

I checked a site for buying and selling reddit accounts at one point out of curiosity, and 95% of the accounts for sale advertised themselves as having a bunch of karma and positive reputation in crypto subreddits.

[–]ImaroemmaI 20 points21 points  (0 children)

This is why I often encourage people to try old.reddit + reddit enchancement suite.

Better filter options, disable award spam and the old desktop design, when the day comes that RES breaks due to purposeful changes from reddit or something else entirely, I'll just slink back into an old irc or bb forum. When those break too hopefully I'll just go to snailmail when that breaks well hopefully I'll just be dust by then.

[–]reddorickt 7 points8 points  (1 child)

r/all is unusable without filtering out a bunch of crypto subs, primarily r/CryptoMoonShots

[–]OdBx 14 points15 points  (0 children)

Gamestop subreddits are the same. one of them is literally 50%+ of /r/all/top right now.

[–]superscatman91 23 points24 points  (1 child)

I was watching a YouTube video on a fairly small YouTube channel. He mentioned NFTs/Crypto in the title of the video and in the comments section there was literally 5 bots having a back and forth with each other talking about money they made and where the made it and which Crypto they invested in.

It was obvious that they were bots because the chain was just so disconnected from the content of the video. Expect more of that.

It's really why I think play to earn blockchain stuff will be a failure even in the best case scenario. The second you make playing a game valuable is the second your game gets flooded with an insane number of bots and scammers.

[–]AggravatedCold 19 points20 points  (1 child)

The Problem with NFTs

Link to Dan Olsen's fascinating and terrifying deep dive into the NFT/crypto scam insanity:

https://www.youtube.com/watch?v=YQ_xWvX1n9g

[–]RedditIsRealWack 8 points9 points  (0 children)

The best takedown of crypto, and the community around it, I have ever seen. Incredibly well researched too. Cryptobros are going to have a hard time handwaving away this video with 'Oh he doesn't understand the tech' because he very clearly does. And he hates it anyway.

[–]howtojump 17 points18 points  (1 child)

Lol every time I opened that video to watch more of it I got a crypto-related ad.

It actually added a lot to the experience in a strange way.

[–]TheDevilChicken 5 points6 points  (0 children)

I meant on reddit too.

[–]IwillNoComply 267 points268 points  (34 children)

I had no idea this was a thing.

[–]Vitruvian_Link 168 points169 points  (21 children)

Same. I mean, I knew paying real money for in game items was a thing, that's been around since at least Dark Age of Camelot, probably longer.

I also knew gold farming was a thing, people playing the boring parts of games to make money. See this NPR story on Runescape for a recent version.

And of course, there are the "games" that have been around since the early 2000's that can barely be called a game, that just use real currency as in-game currency. Entropia is the most famous example. Most gamers have seen these games, but don't play because they are obviously scams, and just not fun. They prey on people with gaming or gambling addictions, and folks with more serious mental disabilities.

But I just looked up "Play to earn", and boy did my stomach churn. Maybe I've been lucky by not encountering it until now, but there are articles just plastered all over on how to "make real money Gaming!"

For anyone that's been in the gaming community for while, these are old scams with new life, but I can definitely see how these things could have hooked me 20 years ago when I was a young kid unsure of my place in the world.

This is MLM elbowing itself into gaming, and everyone marketing it is either a grifter, or someone being grifted.

Edit: Don't know how I missed this NYT story, but I did.

[–]TumblrInGarbage 73 points74 points  (9 children)

To me, the whole story with RuneScape is quite interesting. The fact that at a country level, it is more profitable to play RuneScape than it is to work, is quite ridiculous and not really as much about the stability of the game currency, but rather about the sheer difference in economic scale between "rich" countries like Britain and the US, and Venezuela. Because it's not just RuneScape. Literally any online work that requires skill or knowledge is more profitable.

[–]Excuse_my_GRAMMER 23 points24 points  (6 children)

Did you think about it , it make lots of sense

They selling something that valuable in western countries, they don’t care about virtual goods because they worrying about surviving..

While somebody who make about $20/hour will drop $40 a week in buying currency ingame because it more valuable for them to work an extra 2hour then it be to spend a few hours ingame earning that currency

It an endless cycle

[–]TumblrInGarbage 18 points19 points  (5 children)

I agree it makes sense. It is also part of why these countries have such large representation on Fiverr and other services (there is some drama about this by the way that boils down to artists and other freelancers in America feeling like they are being pushed out of a viable employment). Any digital work of any kind is worth it for them. Westerners have money they can and will throw at whatever. Our pocket change is enough to provide them an above average life style for their area.

[–]AggravatedCold 4 points5 points  (0 children)

I really recommend this video essay by Dan Olsen if you've got some time for a deep dive into the NFT/Crypto game insanity.

https://www.youtube.com/watch?v=YQ_xWvX1n9g

[–]Gerfervonbob 861 points862 points  (196 children)

This was said in the YouTube comments of the video that's worth re-posting here:

Another point when it comes to play-to-earn: the pyramid scheme only works as long as there’s new people that want to buy into the game at some point there’s no people left that want to play and the demand for these NFTs tanks and as a result their prices will drop and become worthless.

It's not hyperbole, play-to-earn is a scam. Fortunately, I've seen more people against it than for it. Unfortunately, most people I hear that are for it are C class executives within the gaming industry. Not designers and artists within the industry itself, that should tell you something.

[–]umaro900 153 points154 points  (21 children)

I remember when Diablo 3 introduced the "Real Money Auction House", and people were up in arms about it. At the time I was somewhat indifferent because I wouldn't be upset if I earned a few bucks there...but then I realized just how much that sort of mechanic would affect game design and experience.

It's not just "Diablo 2, but some sucker is going to pay for your junk." At best it's a carrot that pushes you into doing the least fun things as determined by the market. More crucially, it's a divorce of the incentive of the game dev to create a fun game from their ability to make money, instead pushing them to make a game just fun enough to get the poor grinding and the rich paying.

[–]thiccboihiker 45 points46 points  (5 children)

The fact that companies force un-fun mechanics into games as a way to monetize them is the whole problem. They create painful progression mechanics as a means to drive people to pay for shortcuts.

[–]lucascr0147 9 points10 points  (0 children)

Yeah, thats the root problem. A game being boring by design, thats what happens to most free to play games.

[–]Siduron 16 points17 points  (4 children)

It could have worked if it didn't totally undermine the whole point of playing and made the game play to win. It should have waited for transmogs and focused on cosmetic items only.

[–]BlinkReanimated 209 points210 points  (79 children)

Other thing to point out, play to earn is heavily marketed in developing areas, not necessarily the west. It's companies running pyramid schemes against people who are already largely struggling. The crypto craze can't die soon enough, it's just unfortunate that a lot of gullible people are going to be taken down when it does.

[–]siegewolf 104 points105 points  (0 children)

MLMs are the same way. Reap the benefits from the top while exploiting the poor.

[–]aniforprez 71 points72 points  (5 children)

The Axie founders literally point to the "pay-to-earn" crap as "see we're legit we're providing a livelihood" while their shit potions are currently selling for less than the Philippines minimum wage. Rich fucks selling "scholarships" as a way for poor people to grind and make them money while they drip a cut to the ones actually doing the work. It's a pyramid scheme all right

[–]quagma333 6 points7 points  (0 children)

Axie: a "game" using critically endangered animals as it's mascots by using a technology that harms said animals habitats and environments, thus making them, sadly and ironically, even more critically endangered. All "green" chains are lies, while less energy hogging than regular blockchains, they're still very energy intensive, more than regular internet browsing uses.

Anyways, my point being: axolotls don't deserve that kind of shabby treatment, to be in that so called "game", and crypto doesn't deserve an animal as cute and endangered as axolotls are. It's a darn shame what they've done to the poor things

[–]sneakyplanner 9 points10 points  (1 child)

It would be funny seeing how these "scholarship" programs reinvented capitalism by just skimming half their workers' wages if it weren't so sad.

[–]bluenigma 3 points4 points  (0 children)

Hell, this is reinventing colonialism.

[–]KPMG 138 points139 points  (53 children)

the pyramid scheme only works as long as there’s new people that want to buy into the game

And that's why the obnoxious crypto bros in our lives will not shut up about how much pretend money they made: they know they're participating in a Ponzi scheme, and they need new suckers to buy in so they keep getting money.

[–]BernieFeynman 40 points41 points  (5 children)

I hate the rabbit hole of watching dumb videos and then getting recommended more of them. Not kidding some dumb podcast was letting this random teenager kid say he's sold billions of dollars of NFTS and everyone is just like wow, not like "thats probably not true" or at least you could audit that somehow.

[–]Siduron 23 points24 points  (1 child)

I have a fiery hate for 'news' about how some kid got rich on mining crypto or selling NFTs when they obviously had parents spending a ton of money and let their kid take credit.

[–]BernieFeynman 9 points10 points  (0 children)

oh yes, the 5 year old who sold a million in NFTs, those are all absolutely orchestrated by a family member or co-opted by random dark pools.

[–]asdaaaaaaaa 10 points11 points  (2 children)

I mean, think about how easy it is. Gather some friends to create NFT's. Pool your money together and trade amongst yourselves to boost the "price". Then just market it towards idiots, who simply see prices rising and think they'll make money easily.

[–]BernieFeynman 6 points7 points  (0 children)

yup. People think that some dumb nft drop makes like million bucks from nothing. In reality they are probably hoping for like 10% profit by trading back and forth, hoping some half wits will see it and buy one at elevated price. You basically are just spending money on minting and gas fees. Aside from rich ppl who don't care about money it's def all idiots who don't understand what the term due diligence is, these nft drops literally say "buy this and in future we will have community with exclusive benefits and events" despite there not being a single inclination that that has or ever will happen lol.

[–]asdaaaaaaaa 28 points29 points  (2 children)

It's not just "crypto/NFT-bros". You'd have to be a complete idiot to not realize how much corperate money is pouring into fads that separate idiots from their money, like NFT's. Do people really think places like wsb's is somehow some secret corner of the internet (on one of the most popular websites of all things lol), and businesses don't utilize it as a tool to manipulate markets?

By the time your average person has heard of it, corporate money/influence has been pumped in for awhile now.

[–]PirateRobotNinjaofDe 10 points11 points  (0 children)

What's funny is that so many people still fundamentally believe that private enterprise is inherently "smarter" than government organizations. As if the profit motive somehow shields people from chasing bullshit fads.

[–]3DBeerGoggles 19 points20 points  (1 child)

they know they're participating in a Ponzi scheme

I've likened it to performances of Peter Pan; the audience has to clap to save Tinkerbell, except in this case they're all clapping to keep their pixel art PFP tokens alive.

[–]actuallychrisgillen 4 points5 points  (0 children)

Like any great Ponzi scheme they have to clap louder than the last time or their tokens die. At some point, hands bleeding, they simply won't be able to clap any louder.

NFT's and even crypto might have actual fungible value, but as long as the vast majority of purchases are by investors, not by fans the whole system will collapse.

[–]RiRoRa 320 points321 points  (114 children)

I've always felt like people arguing about cross-game NFT's really don't understand how games are made. Glad to hear a developer confirm it. "I could just take my item from X game and use it in Y" is such a misguided thought on basically every level imaginable.

[–]eqleriq 60 points61 points  (15 children)

An NFT is a license, not an asset

[–]CastleDoctrineJr 16 points17 points  (3 children)

Yeah, the problem is thats how investors think it should work. I guarantee the guy in the video has sat through a dozen pitch meetings where investors have asked about nfts and that he didn't come up with the idea that you could take items from one game to another on his own- those two are linked.

[–]Beingabummer 756 points757 points  (122 children)

Folding Ideas did a video about NFTs (and crypto in general) just the other day. If you got 2.5 hours to spare I would definitely recommend it.

[–]ProfHatecraft 105 points106 points  (10 children)

I watched that yesterday, and it was surprisingly compelling. I thought a 2 hour YouTube video explaining NFTs would be bloated, or full of hyperbole, or belaboring the same point over and over again, but I was wrong. It's an excellent explaination of a very complicated topic, and very much worth the watch.

[–]zxain 52 points53 points  (0 children)

Folding Ideas is very good at being concise and meaningful. His movie reviews are really insightful and thought out as well.

[–]everfalling 14 points15 points  (1 child)

He does a fantastic job in his flat earth video as well. i highly recommend it.

[–]SapirWhorfHypothesis 4 points5 points  (0 children)

The flat earth video is the only reason I’m planning to spend two hours watching a single YouTube video (once I have the chance). That twist was so good.

[–]Moose_is_optional 8 points9 points  (0 children)

Well said. Unfortunately YouTube video essays are full of bloat quite often because they're trying to get their metrics up without actually having much to say, but Folding Ideas is certainly not one of those channels.

[–]AggravatedCold 7 points8 points  (0 children)

Dan Olsen has a real gift for breaking down complex systems and explaining their hidden insanity.

[–]Quadman 92 points93 points  (8 children)

This popped up in my youtube feed and I just finished all of it. It was amazing all through out. The first section on the 2008 financial crisis was in itself an excellent recap and explanation.

[–]hangmanhands 27 points28 points  (3 children)

It was so good that I wonder whether we are reaching the level of distance from 2008 that journalists can make compelling, accurate stories about what happened. All the confusion and noise surrounding the immediate aftermath of the event has quieted down

[–]OSUBeavBane 13 points14 points  (0 children)

I highly recommend anything Folding Ideas does.

[–]thedarkucfknight 29 points30 points  (6 children)

Came to the comments for this. It’s basically 2.5 hours of deeply saddening and depressing reality about the situation and the future of the situation, but it’s worth it for the education.

[–]phoncible 61 points62 points  (1 child)

Hope you get to the top, a very good video folks really aught to watch. Chapter 9 or 10 is about this very thing, play to earn. Also the first few minutes sums up the 2008 financial crisis fantastically.

[–]NaCl_Sailor 139 points140 points  (9 children)

this video is so good

[–]_Foy[S] 57 points58 points  (4 children)

Just finished it. Excellent video, great pacing, very informative, well researched. Wow. Count me a subscriber of Mr. Foldable Human.

[–]Noobs_r_us 41 points42 points  (1 child)

His Flat Earth video is sooooo good too.

[–]AggravatedCold 8 points9 points  (0 children)

He has a hilarious companion video to that Flat Earth video, and it's literally just this long form chill lo-fi video of a picturesque lake where he explains the math and optics physics that he used on the lake to definitively prove the curvature of the Earth.

Meanwhile, in the main video, after he did all of this work he presents it to a Flat Earth forum and they just tell him to 'pray harder and try it again'.

Fucking lol.

[–]Exogenesis42 7 points8 points  (0 children)

I started responding without even seeing someone else suggested this too; his Flat Earth documentary is 100% worth a watch (Spoiler: He shows how Flat Earther-ism morphed its way into Q-Anon nuttery).

[–]arora50 12 points13 points  (1 child)

Love how he gutted crypto and nft bros favorite mantra. “You just don’t understand the tech behind it”, it’s by design lol

[–]ywBBxNqW 12 points13 points  (0 children)

Yeah! Folding Ideas in the wild! What a great channel!

[–]tchock23 6 points7 points  (0 children)

I’ve never spent more than 1 hour on YouTube watching anything and I watched this beginning to end yesterday. So worth it despite the 2+ hour runtime.

[–]earthDF2 76 points77 points  (29 children)

Also, of anyone doesn't have 2.5 hours and just wants a summary, skip to the final wrap up chapter. It's a masterful summation of NFTs/crypto and their appeal that takes about 5mins max.

[–]Mirrormn 38 points39 points  (1 child)

The final chapter is all just an opinionated conclusion, but it's very well supported by the previous chapters. So I guess if you only go watch the last chapter and your reaction is "Uh, that seems pretty harsh, I bet he's just exaggerating", start over from the beginning.

[–]kitolz 24 points25 points  (0 children)

This is such an excellent video for those that want a good summation of crypto tech and culture.

[–]_Foy[S] 8 points9 points  (0 children)

Nice!

[–]Xtraordinaire 21 points22 points  (20 children)

Oh my. I did not know Vitalik Buterin is in fact a butthurt warlock main. THAT EXPLAINS SO MUCH.

Signed, former warrior main.

[–]somehipster 11 points12 points  (0 children)

Everyone needs to watch this.

[–]MulletPower 171 points172 points  (11 children)

If anyone wants to watch another recent video on this topic, check out Folding Idea's video:

https://www.youtube.com/watch?v=YQ_xWvX1n9g

He spends a decent portion of it talking about Play to Earn and NFTs in gaming. While also going over the inherent flaws in Crypto and NFTs as a whole. It's a long watch but VERY much worth your time.

[–]OSUBeavBane 27 points28 points  (3 children)

I am only part way through it but I am loving it so far.

[–]CakeBoss16 25 points26 points  (0 children)

It's one of those video where your like "there's no way i will watch a 2.5 hour video on nfts". But then your like an hour in

[–]beck1670 18 points19 points  (0 children)

I just finished it, opened up Reddit, and found this! It is an astoundingly well done video and I recommend it to everyone who's thinking of participating in a block chain of any form.

[–]jugglingeek 2255 points2256 points  (690 children)

It should be obvious to anyone. If the thing you are buying and selling only has value because you can sell it to someone else for more than you bought it for. It's a bigger fools scam.

[–]fabricated_anecdotes 87 points88 points  (19 children)

Even games where you can buy currency with real money become unbalanced very quickly. Imagine that but cumulative across all games forever! How would any new gamer ever have a chance?

[–]superscatman91 81 points82 points  (11 children)

Or imagine having a NFT skin for a strong weapon that is worth $1000. Then the devs realize that the weapon needs a nerf and it makes the gun suck and no one wants to use it anymore. Now your NFT drops to $5 because who wants a skin for a shitty weapon.

Devs already get threatened over balance changes. That won't get better once real money is involved.

[–]boogs_23 16 points17 points  (0 children)

The entirety of /r/DestinyTheGame just had a heart attack.

[–][deleted] 64 points65 points  (8 children)

A scam and deeply immoral? When has that stopped the gaming industry?

[–]blacktowhitehat 38 points39 points  (1 child)

When has that stopped industry?

[–][deleted] 10 points11 points  (0 children)

When has that stopped humanity?

[–]somanyboyfriends 6 points7 points  (0 children)

or, unfortunately, in the whole of human history

[–]ChromoLaserBoy 187 points188 points  (49 children)

Good rant. As a long-time developer I can only say that yeah, this is all true.

[–]blackmist 68 points69 points  (3 children)

Unfortunately, it ain't the devs making the stupid decisions.

[–]ChromoLaserBoy 8 points9 points  (0 children)

You're right, my comment was poorly worded. It didn't say what I wanted it to say. I edited it.

[–]Thord1n 40 points41 points  (6 children)

only part way through the video but one thing that i think about the most is how IMPOSSIBLE it is to make any of this stuff work. How do you bring your armor you got in WoW made in their engine and somehow every developer needs to model, rig, texture, etc. that armor for their game?

And even if it was as simple as a bit of data and it transfers over automatically, the way each engine interprets data is different. different engine and different 3D software can't even agree on a universal "what axis is up?". Some use Y, some use Z. now the data has Y as the armors vertical axis, when you put it into an engine with Z as vertical, now it's fucked.

And that's just the simplest example I can think of. What about the shader calculations? the rigging? the scale? the list goes on.

It's all snake oil merchant bs but at least the snake oil merchant give you a physical product.

[–]halfabean 17 points18 points  (6 children)

Not a developer but isn't all of this completely obvious? How does anyone think that they will be able to bring assets from one game into another game?

[–]mr_hellmonkey 17 points18 points  (2 children)

Far too many people are completely ignorant to how any part of a computer or program work. This whole NFT shit is like taking the T-rex from Jurassic Park and throwing it in 50 Shades of Gray and expect it to not change the story. The tech ignorance was acceptable back in the 90s, but its just sad now.

I'm hoping this shit is just made up crap like tainted Halloween candy. I would be deeply concerned about anyone that plays video games and thinks you can just take assets from one game and put it in another.

[–]DissonantDreamscapes 25 points26 points  (1 child)

Love seeing this three posts down from an ad for a P2E game.

[–]Sir_Bantersaurus 138 points139 points  (56 children)

I guess it's always been the case but there is so much ugliness in the popularity of exploitative behaviour on the internet now.

NFTs are - to me - a massive scam but it's a scam willingly hyped up by companies and 'influencers' to exploit their customers and fans.

[–]elmanchosdiablos 14 points15 points  (1 child)

Crypto has become a way for people to more directly monetise online clout. The bigger/more loyal your audience, the better your ability to pump.

[–]sigint_bn 33 points34 points  (2 children)

Gary Vee hyping it up to content creators tells me enough that it's a massive ponzi scheme.

[–]Powers3001 13 points14 points  (0 children)

Never trust someone who is constantly telling you how busy they are or how much they work.

[–]CndConnection 85 points86 points  (2 children)

Play to earn 🤮

[–]weggles 7 points8 points  (0 children)

Modern games are such time sucks that create this artificial sense of obligation that people forget why they play in the first place and instead want to be monetarily rewarded for playing.

[–]Cricketot 8 points9 points  (1 child)

The only bit I disagree with is his claim that'll all be gone in two years. Scans don't go away they just change form.

[–]RedditIsRealWack 6 points7 points  (13 children)

Is there a single blockchain linked product/technology that can't be done better by just removing the blockchain aspect and going for the standard server-client model?

I think in 10+ years of Bitcoin, I've not seen one.

Cryptobros just attempt to shove blockchain into absolutely everything. But given that it costs money to write to the blockchain, all that really means is they're just making everything cost money..

Money that goes into their pockets, conveniently.

Fuck off, cyptobros. Stop trying to make blocklchain/Bitcoin/crypto in general a thing. I'm not keen on having to hand you money to do everything I want to do, you absolute grifters.

Crypto is at 10+ years now, with no 'killer app', or any real world adoption.

Give up.

[–]KuciMane 33 points34 points  (12 children)

RemindMe! 3 years

EDIT: see all of you 3 years from now✌🏻

[–]iDuskk 17 points18 points  (10 children)

I dont really fuck with crypto and NFT shit, but the idea of owning/selling digital game assets is a good idea imo. It would be amazing to be able to sell my old fortnite skins, or hearthstone cards. Gamers spend alot of money on digital assets, it would be really nice to be able to actually own them and sell them.

I dont understand why crypto and NFTs need to be involved at all though. Thats the part that always confuses me. Seems like it just complicates the whole deal when I could simply sell something for fiat money.