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Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless. (markets.businessinsider.com)

submitted 1 year ago by [email protected] to c/[email protected]

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Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.::NFTs had a huge bull run two years ago, with billions of dollars per month in trading volume, but now most have crashed to zero, a study found.

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[–] [email protected] 3 points 1 year ago* (last edited 1 year ago) (1 children)

Hmm, kind of an open source Steam client that shares game files in a secure and verified peer to peer manner and only lets users play that have the corresponding NFT in their connected wallet. Now you'd only need an incentive for someone to develop something better and way more complex than Steam without making anything close to the same profit from it.

[–] [email protected] 1 points 1 year ago (1 children)

Now you’d only need an incentive for someone to develop something better and way more complex than Steam without making anything close to the same profit from it.

Uh, yeah. GameStop is making it, from what I hear. They can't keep selling old physical copies forever and the new board knows it. They're already partnered with some blockchain firms to build it. Means + motive on a platter.

As to why a developer would go for it? This kind of token can be sold on any such marketplace, but can have a royalty baked in so that no matter who sells it or where, they get a perpetual revenue stream. I usually hate rent-seeking behavior, but in the case of software you need a way to pay for continued support, and this solves it.

[–] [email protected] 0 points 1 year ago (1 children)

You're adding another person to the equation (the player that sells their game) and everyone is supposed to profit? Someone will make a loss compared to the status quo for this to work out and it's never the marketplace operator.

[–] [email protected] 1 points 1 year ago

When we buy a game, there is already an intermediary. The GoG, Steam, Itch, whatever. This would be the same number of middlemen. The unique selling point would actually be disintermediation, since buyers would be able to resell the game and creators would be cut into the 'used game' market, giving them an incentive to maintain its quality long-term. There are other useful angles as well, but that's the one I like best.