You also need to consider that these big $1M NFT sales are done by a tiny fraction of the community that buy NFTs. These transactions are amplified through social media, through some very well coordinated pro-NFT groups in Discord, Twitter, Youtube etc. They all keep pumping out media showing how rich they are getting, eventually sucking in the masses who feel they are missing out which marks the top of the market.
Should Star Citizen consider NFT's for raising funds?
- Thread starter Montoya
- Start date
Personally, I don't see anything wrong with people purchasing whatever for a few bucks here & there, but those that purchase a tiny bit of digital art for millions just for the sake of showing off how much money they've made while a large number of the worlds population are struggling makes me believe that they have far more money than wisdom & they will eventually exemplify the old phrase, "A fool & their money are soon parted."
Would it also mean that the purchase is much more fixed without CIG being able to modify it in a way that would decrease the value?
for instance, take the Ion…sold as a sniper and as originally released, people might scoop up an NFT ion. Then CIG comes in and nerfs accuracy and such. Would that still be allowed?
the whole point of an NFT is that you own it. CIG has gone out of their way to specifically say you don’t own anything and you are not purchasing anything as you are “backing the game”, not buying a ship. I think this would cause them more problems then it solves, especially for a game under development where they need the ability to make changes for purposes of balance.
There is no benefit to NFT's because they already have a gift system and selling ships on Ebay. There's no benefit to a NFT outside of easier secure selling.
In fact it would be detrimental and I as a ship holder would actually encourge making them NFT's because I wouldnt spend $649 on a "supposed rare" ship,
marketed limited quantities, just to find it a few months down the road on Ebay for $559, where you know the $60 is the ebay fee's so their basically selling a $649 investment now as $500 and fucking over those who pledged early basically ensuring those people now are bitter as hell and want nothing to do with Star Citizen... more apparent everyday this project is a carrot in front of a donkey,
cept the carrot is Chris Roberts and your wallet is the stupid donkey.
For those that think they can mint endless is not true and if it was you wouldnt buy shit because it wouldnt be collectible. Would you collect a rustable penny today for $50 in hopes itll be the rare one in 5 generations from now? No cuz their number is in millions and they are junk that wont even last that long.
You specify how many are to be minted and no more can be minted... The only place they would make money would be one of a kind packages, and no one is going to care for them.
It's things like this that are going to destroy the mainstream NFT fools who dont have a clue what their NFT's are truly worth and playing a snooty game of i got more than you right now.
As for NFT only being available in Star Citizen, its not very true. It could used in any of their games in the future, which is why game companies are being bought up in the billions rigth now.
Because a skin bought in Call of Duty 6 for $10 is not the future, a skin with modifiable inner workings with complete color control sold for $3000, with the ability to use it again in
COD Version 7, 8 and 9 is.
The only thing NFT worthy is skins and hangar gadgets, and looks like the models are so ridiculously developed, skinning shpis wouldnt even be anything but a outside spray paint.
I doubt people care to spend hundreds on skins just cuz they can sell it if they are done.
The NFT system is something you all should be scared about though, because GameFi is the future, and dev people around here are probably jumping ship to get on that bandwagon... its like the wild west gold rush happening now, and people are just catching on... Money is abundunt backing these DeFi plans being pitched... And this SC has never provided any traction ever IMO.
In fact it would be detrimental and I as a ship holder would actually encourge making them NFT's because I wouldnt spend $649 on a "supposed rare" ship,
marketed limited quantities, just to find it a few months down the road on Ebay for $559, where you know the $60 is the ebay fee's so their basically selling a $649 investment now as $500 and fucking over those who pledged early basically ensuring those people now are bitter as hell and want nothing to do with Star Citizen... more apparent everyday this project is a carrot in front of a donkey,
cept the carrot is Chris Roberts and your wallet is the stupid donkey.
For those that think they can mint endless is not true and if it was you wouldnt buy shit because it wouldnt be collectible. Would you collect a rustable penny today for $50 in hopes itll be the rare one in 5 generations from now? No cuz their number is in millions and they are junk that wont even last that long.
You specify how many are to be minted and no more can be minted... The only place they would make money would be one of a kind packages, and no one is going to care for them.
It's things like this that are going to destroy the mainstream NFT fools who dont have a clue what their NFT's are truly worth and playing a snooty game of i got more than you right now.
As for NFT only being available in Star Citizen, its not very true. It could used in any of their games in the future, which is why game companies are being bought up in the billions rigth now.
Because a skin bought in Call of Duty 6 for $10 is not the future, a skin with modifiable inner workings with complete color control sold for $3000, with the ability to use it again in
COD Version 7, 8 and 9 is.
The only thing NFT worthy is skins and hangar gadgets, and looks like the models are so ridiculously developed, skinning shpis wouldnt even be anything but a outside spray paint.
I doubt people care to spend hundreds on skins just cuz they can sell it if they are done.
The NFT system is something you all should be scared about though, because GameFi is the future, and dev people around here are probably jumping ship to get on that bandwagon... its like the wild west gold rush happening now, and people are just catching on... Money is abundunt backing these DeFi plans being pitched... And this SC has never provided any traction ever IMO.
And, this is the hole CIG has dug for themselves if they ever want to do NFTs. Former backers have sued CIG for refunds and they have consistently used this claim as an excuse not to give them. As a result they even went through several iterations of terms agreements to button this down. It opens another can of worms for them as soon as they make the suggestion of NFT.
If they did go the route of NFT ships, then I would argue that ALL ships should be NFTs, including things like the Javelin, Kraken, Idris, etc. Of course, this means a bigger F5 war to get those tokens due to big ship sellers, but it would also make it easier for people to get out of SC if they decided they no longer wanted to be part of it.
For instance....Say SABER123 (made up name) decided that enough is enough, they are fed up with CR after this latest roadmap issue (plenty of people have said that) They then sell their 35k, 10k, 5k, 500 dollar, 100 dollar, 45 dollar collection of ships. Some are worth almost nothing, others are worth more than they paid for it. A person with an Javelin that they paid cash for might be able to sell it for 3 or even 4k.
Here is another problem for CIG...eventually, they are competing with their own customers who backed for ship sales. I have an Aquila I picked up before the price hike. I decide I don't want it anymore. I can sell it for less than CIG can. The person I sell it too eventually decides that SC isn't for them and sells it, taking a loss, but still competing with the Aquila sales that CIG is trying to make. With all the CCU paths available, people would be able to undercut CIG by a significant amount on an almost endless supply of ships, flooding the market. At that point, CIG isn't selling expensive ships (those that really boost their bottom line), they are only selling cheap tokens and CCU chains. This costs them a lot of money. Plus there are all those people who decide that SC isn't worth the wait or they are just tired of the game and want to move on to something new. They then sell their ships on the market, with CIG getting no cut, and also reduces demand for CIG produced ships.
NFTs don't work in CIG's model. If they did, you can bet they would already be doing it.
I think NFT ship sales will kill SC, frankly, because that would mean they need to produce "x" amount of ships then move on to new models endlessly. They would essentially become a ship minting service and ships take too much time and effort to develop to a working standard then aftercare to fix bugs etc. Smaller NFTs would be the way to go if they did it, skins, weapons other low maintenance or maintenance free items. But, if they did go NFT on big ticket items, I can see a slew of litigation based on the flip flop of who has ownership of ships, as they have argued that the consumer has no rights to them since they are not investors or their money back because these were "pledge" items not purchases and don't fit within the TOS to grant a refund.
With regards to getting out of SC, they can sell a ship to me and I can in turn sell it on ebay or among my friends. I can even privately sell my account if something is account bound.
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I don't really know how an NFT item in a walled garden that is a game, is supposed to be able to be used in future games? It's not an MP3, the assets are not usually interchangeable...?
Are the devs supposed to code every single item that has ever existed as an NFT under their companies brand into every single new game they make like every new Pokemon game still needs the hundreds of old Pokemon coded into it in case someone imports all their old crew in from previous games and it's all just wasted code, effort and cost in there if only 1% of the users use that item?
Or are NFT's supposed to be some sort of universal plug-in or expansion code which adds to the players game code no matter which version they play and add that item? And if that's the case and you play online, how are you supposed to get that plug-in code into everyone else's games so they can see your glorious item?
It just doesn't seem very sustainable all for the want of making an extra piece of pie out of their game monetization schemes. Say they release 200 unique NFT items in COD6. They do the same in 7. Then do the same in 8. Then do the same in 9. By COD 10 they have 800 legacy items to code into the game before thinking about how to coin it in with the 200 they are going to sell.
At this point when you have thousands of numbers limited items which will not return revenue before you even get to the new generation which you can sell, it's like Entropy - the old NFTs, like energy, is spent and wasted with it eventually likely costs them more Deving legacy NFT's in to games than they get from coding and selling new NFT items... Unsustainable.
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And the shady just got shadyer:
"Traders are selling themselves their own NFTs to drive up prices"
View: https://twitter.com/leonardjfrench/status/1490022301814902788
"Traders are selling themselves their own NFTs to drive up prices"
View: https://twitter.com/leonardjfrench/status/1490022301814902788
Just keep in mind there is nothing wrong with the technology itself. But this is the fast track to Government scrutiny, and that is going to have a very heavy price.
Correct, I said this in the video right?
I buy some crappy 8bit graphic for $1M, I then sell it to myself for $2M, then again a few weeks late for $3M.
To the outsider, they just see an NFT making massive gains.
The entire NFT ecosystem gets this assumed value which is built on wash sales.
Ahaaa!
There is a reason, which Human Language is so unable to come close to defining that one would just assume it didn't exist, as to why I landed in TEST - and I think this display of cognitive dissonance is a fairly good example of it.
I don't understand why you would want to use NFTs for this kinda stuff. As mentioned in the video, most of how nfts are used can just be done through the game directly. No need to involve 3rd party blockchains into this. Makes everything just unnecessary complicated. You would need to create a crypto wallet, connect it to your SC Account, buy Ether etc just to ... buy an item from CIG and sell it later? And what does the hash of the nft link to? Can you actually change the item after that? Wouldn't that destroy the point of the nft? You could just add a market like with the skins in csgo. The point with "databases" "transactions" being a mess they wouldn't want to deal with? Really? Thats the argument for nfts? Oh boy than they shouldn't do a massive multiplayer online game like star citizen. It would be such a mass and the only real "pro" would be to have buzzwords all over the place. If I have an item ingame and I want to sell it to another player ingame, using Ethereum and NFT's is not handy
Yes in fact there is many projects in development which is allowing you to use your officially licensed NFT's in their arena/sandbox metaverses. Such as Spiderman, Batman etc...
These are licensed services on a certain level 2 protocol, granting the rights to use them, so youll be seeing crazy stuff soon. For example, things on ethereum blockchain will be available to be brought into other ethereum based metaverses etc..
Twitter is now announcing NFT pictures to be used as profile pics... Web 3.0 is here, i'd stop bitching and start learning.. You can own some stock of the internet right now, quit playing around with stupid pictures though.. thats mainstream nonsense...
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Thanks for the kind reply, however that does not answer my question.
How are these unique numbers limited items supposed to cross codes and platforms? You need to model, you need to have that asset in the destination game with its unique physics and mods, you need to QA the item works correctly in the physics etc of the destination game - and you will not be making any new revenue from it because it was made and sold years ago?
It's a wonderful dream that I'd be able to take the Lawgiver Gun from Rebellions Judge Dredd vs Death and use it in Battlefield 1942, but in reality all assets must be compatable. How are they going to do that? And if all games should be able to do this in future, how is that going to be sustainable? And if that ability would just be limited to one publishers engine so it is all cross compatible - then why isn't it now? You don't need NFTs to do that, there is nothing stopping a publisher which has its own proprietary engine or proprietary branch of an established engine from doing that right now, and it would cut out all game NFTs which are not part of that publishers ecosystem... so again, it's unsustainable and won't do what one dreams it to be able to do.
I'd suggest until all games are made with the same engine and all have the same physics etc pan-game cross-platform NFT's are Moon Deeds too. Why should EA and Bethseda and Squaire Enix program in your Ubisoft NFT to their game? What's in it for them?
I have expanded on my original question but I'd love an answer to them. What are NFT makers/games companies doing right now to make that dream a reality, because all I have seen so far are dreams and doller signs in peoples eyes.
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Such as? “Spiderman and Batman“ is vague.
Please explain, are we supposed to understand that? Sounds like a line from a Marvel movie to me.
I have a feeling I’m seeing it now, but go on…
Okay, we can Google that to confirm: https://help.twitter.com/en/using-twitter/twitter-blue-fragments-folder/nft. Twitter for iOS only just now, but easy to see other platforms will follow.
Charming.
Let’s not get carried away. NFTs are definitely NOT the internet. They’re more like digital trading cards. This isn’t changing my mind so far. Don’t spend more on them than you can afford to lose.
News:
You thought it was bad when that Mum deleted that kids Steam Account imaging the tax man seizing your 890j as a valuable asset :-o
HMRC seizes NFT for first time in £1.4m fraud case
The tax authority says it is the first UK law enforcement body to seize a Non-Fungible Token.
www.bbc.co.uk
You thought it was bad when that Mum deleted that kids Steam Account imaging the tax man seizing your 890j as a valuable asset :-o