Those who understand the benefits of NFTs and how they give you provable ownership of digital items might be surprised to know that gamers, or those who might benefit the most from NFTs THE MOST, become outraged whenever gaming companies even mutter the letters N-F-T. At the same time, it’s easy to see the concerns as gamers are increasingly to extract more money while providing less value, and relatively few understand the benefits of NFTs and instead see them as a cash grab. targeted by predatory tactics Let’s see why gamers are outraged by NFTs and why they should actually greet NFTs with open arms. 1. Smells Like a Scam Crypto has been called a scam and shady finances at best ever since its inception. It also doesn’t help that crypto was often first used by criminals . to buy illegal items from Silk Road Repeated scandals, scams, and rug pulls in the crypto industry have damaged its reputation and made it difficult for outsiders to trust the legitimacy of the technology. Cryptocurrencies like Bitcoin and Ethereum, while different from NFTs, are all based on blockchain technology. For those unfamiliar with the differences, Bitcoin is a form of digital currency that is interchangeable and indistinguishable from one another, while NFTs represent unique digital assets that cannot be replicated and serve as proof of ownership. The may be unsettling to some, but they are actually a natural evolution and offer great potential for the gaming industry. concept of NFTs Many games feature gacha elements where players can obtain virtual items such as skins, costumes, and weapons, but these items do not truly belong to the player. NFTs provide a way for gamers to truly own the digital assets they have purchased. While there are ways of selling the items (there are often marketplaces for selling Fortnite, TF2, WoW, DOTA, and items from other popular games), you don’t actually own them. Selling is and can get your account banned, and your items are completely reliant on the games. If the game dies, then you have nothing proving that those items belonged to you or even existed. often against the ToS Despite the negative media coverage and justified criticisms of the crypto industry, the technology itself is not inherently bad and has the potential to be game-changing. It is important to separate the actions of some bad actors from the potential of the technology itself. 2. Just Another Revenue Source I don’t want to pull the “back in my day” card, but I’m going to. When you bought retro games like Sonic for Genesis, Mario for NES or SNES, or Resident Evil for PS1, you bought the entire game. It wasn’t a half-finished game that wouldn't get patched for months, there was no DLC, and there certainly weren’t any items, loot boxes, or other microtransactions. Then came the dark days of early microtransactions when companies knew they could make more money, but many didn’t know how to do it. Remember when essential items would be kept behind large paywalls, or when you’d have to grind monotonously for hours before getting the smallest amount of in-game premium currency? Most developers now understand that it’s best to give you additional items, costumes, skins, and other goodies as microtransactions. In fact, last year, gaming companies made more than . $40 billion by selling in-game items The digital cosmetics aren't essential to gameplay, but they add to it. However, many gamers find themselves spending tens or hundreds of dollars on these items (even though the game itself is usually free), and it’s become a necessary evil that gamers have grown accustomed to. While the potential for increased microtransactions is a concern for gamers, NFTs offer the possibility of true ownership of digital assets and the ability to prove ownership through the use of blockchain technology. NFTs, which can offer added security, censorship resistance, and interoperability to a digital asset, could potentially be very beneficial for gamers. This is because it would allow them to sell their in-game NFTs once they are done playing the game while also reducing the risk of getting locked out of an account and losing access to assets. It is not yet clear if developers will take advantage of this by charging a premium for NFTs, but it presents an interesting opportunity for both players and developers. 3. Over-Financialization Takes Away Fun Some gamers already understand what NFTs are and how they’re beneficial, but they are still worried about them. If you own an NFT, you have the right to sell it. That means that there will likely be large marketplaces where gamers can sell items en masse as they own them. While cashing in on your in-game achievements or selling items you no longer want sounds great (and it might be), the problem is that this can turn entertainment into work. Getting a rare item feels great. Maybe it’s stronger than other items, or maybe it looks so unique that other players will know how special you are. In either case, these items make the game more enjoyable. If NFTs become widespread and your main goal is to sell items as soon as you get them, then games become work. You aren’t farming items to improve your character. You’re farming items, beating bosses, and doing quests for your daily living. Suddenly having fun in a fantasy world turns into a colorful office space. While some players might experience this, the truth is that it's already happening. Like I said before, you can sell items, but it’s technically against the terms and might even be illegal. NFTs will just make it easier to sell items and it will give you more rights, but that doesn’t necessarily make it a job. Final Thoughts Gamers are showing their anger whenever developers mention NFTs, but this would actually be highly beneficial for them. Not only does it give you true ownership of a digital item and give you more rights in selling and owning these items, but it also feels good to know you truly own the item. It’s not just some random item floating in digital space. It’s an item that you lawfully own. If you felt the sting of NFT rage, then I recommend you reconsider your position as this can be a huge benefit to gamers.

Too Long; Didn't Read

Discover Saakuru: Web3 Mass-Adoption with 0-FEES

Three Reasons Why Gamers Are Outraged at NFTs

Too Long; Didn't Read

PM Tech

About Author

TOPICS

THIS ARTICLE WAS FEATURED IN...

Three Reasons Why Gamers Are Outraged at NFTs

Too Long; Didn't Read

PM Tech

About Author

TOPICS

THIS ARTICLE WAS FEATURED IN...

RELATED STORIES