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cicindela
··Steve @ ΩFBoy, and here I thought they are tokens sprayed with fungicide to prevent Mold.
Can someone explain NFTs (Non-fungible tokens) and yes I have googled it.
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eugeneandresson
·I have read that stupid as the concept sounds, it may evolve into an effective system for digital copyright protection.
How about identity?
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Foo2rama
··Nowhere near as grumpy as he used to be...NFT of a digital picture that already exists makes little sense.
but what if your your a fashion designer and you create a one off outfit for someone in the digital world. You could use that outfit in multiple different meta verses. Or games that support that NFT format.
does that make sense?
but what if your your a fashion designer and you create a one off outfit for someone in the digital world. You could use that outfit in multiple different meta verses. Or games that support that NFT format.
does that make sense?
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Archer
··Omega Qualified WatchmakerNFT of a digital picture that already exists makes little sense.
but what if your your a fashion designer and you create a one off outfit for someone in the digital world. You could use that outfit in multiple different meta verses. Or games that support that NFT format.
does that make sense?
Sure, I suppose. Then...
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Walrus
·I’m not really into the NFT thing but I know a few people who are they seem to use it as a creative outlet which is cool. Sometimes it ends up costing them a bit in fees so money isn’t their main motivation. When you start looking at NFT gaming in some areas or read about NFT’s potential in the metaverse in may be too early to make an educated assessment of the whole thing. When I look at it in part it seems kinda silly when you read about its possible place in the future maybe there is something to it. I guess we will find out or maybe it’s not gonna be a thing for our generation. I remember my wife wanting to get Facebook stock when it dropped to 17.50, I said “why would you want that they don’t make anything” then jumped on board a few 17.50’s later when I saw what they were doing. Scoff something off now but in a short time you are looking at it differently, not saying that’s the case here I just try to avoid contempt prior to investigation or going by what’s just between my own two ears I am so frequently wrong.
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Observer
·As previously mentioned, gaming NFTs are huge. People in developing nations have been putting food on the table playing a game called Axie Infinity using NFTs owned by more wealthy people. I cashed out thousands from that game’s token earlier this year. In fact, it was my first 10,000% gain in crypto. I spend about six hours a month on a game called Town Star for a monthly cash out of about $700. I don’t need it, but an extra eight thousand/year would be silly to walk away from. The company that makes that P2E (play to earn) game plans to include a mechanism allowing owners to lend their NFTs for a split of the winnings, and most people I know plan to lend them to people in poorer countries for mutual benefit. Craziest of all, I paid about $5K for an NFT that represents a farming hamlet in a game that’s still in the testing phase. There are two hundred of these farming hamlets, and the last three times they changed hands on the secondary market the price was over $100K. Several other gaming NFTs I bought earlier in the year for that game have done the same thing. I sold enough of them to more than cover the purchase prices for all of them.
Just thought I’d share a perspective that seems to be missing here. P2E gaming is revolutionizing gaming and injecting significant funding to our less privileged fellow earthlings.
Just thought I’d share a perspective that seems to be missing here. P2E gaming is revolutionizing gaming and injecting significant funding to our less privileged fellow earthlings.
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Archer
··Omega Qualified WatchmakerAs previously mentioned, gaming NFTs are huge. People in developing nations have been putting food on the table playing a game called Axie Infinity using NFTs owned by more wealthy people. I cashed out thousands from that game’s token earlier this year. In fact, it was my first 10,000% gain in crypto. I spend about six hours a month on a game called Town Star for a monthly cash out of about $700. I don’t need it, but an extra eight thousand/year would be silly to walk away from. The company that makes that P2E (play to earn) game plans to include a mechanism allowing owners to lend their NFTs for a split of the winnings, and most people I know plan to lend them to people in poorer countries for mutual benefit. Craziest of all, I paid about $5K for an NFT that represents a farming hamlet in a game that’s still in the testing phase. There are two hundred of these farming hamlets, and the last three times they changed hands on the secondary market the price was over $100K. Several other gaming NFTs I bought earlier in the year for that game have done the same thing. I sold enough of them to more than cover the purchase prices for all of them.
Just thought I’d share a perspective that seems to be missing here. P2E gaming is revolutionizing gaming and injecting significant funding to our less privileged fellow earthlings.
So, people play games to earn money? Who is paying people to play, and what are the people paying getting in return from the players?
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Observer
·So, people play games to earn money? Who is paying people to play, and what are the people paying getting in return from the players?
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Dan S
·As previously mentioned, gaming NFTs are huge. People in developing nations have been putting food on the table playing a game called Axie Infinity using NFTs owned by more wealthy people. I cashed out thousands from that game’s token earlier this year. In fact, it was my first 10,000% gain in crypto. I spend about six hours a month on a game called Town Star for a monthly cash out of about $700. I don’t need it, but an extra eight thousand/year would be silly to walk away from. The company that makes that P2E (play to earn) game plans to include a mechanism allowing owners to lend their NFTs for a split of the winnings, and most people I know plan to lend them to people in poorer countries for mutual benefit. Craziest of all, I paid about $5K for an NFT that represents a farming hamlet in a game that’s still in the testing phase. There are two hundred of these farming hamlets, and the last three times they changed hands on the secondary market the price was over $100K. Several other gaming NFTs I bought earlier in the year for that game have done the same thing. I sold enough of them to more than cover the purchase prices for all of them.
Just thought I’d share a perspective that seems to be missing here. P2E gaming is revolutionizing gaming and injecting significant funding to our less privileged fellow earthlings.
I just threw up in my mouth.
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Observer
·I just threw up in my mouth.
The world of Omega, Longines, Rolex, etc is arguably just rich people trading expensive toys with other rich people, while crypto facilitates transfers of wealth to poor people. Which is really more sickening?
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Observer
·For the record, I'm not judging. I'm comfortable in both worlds.
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Archer
··Omega Qualified WatchmakerFuture returns from NFT rentals and price appreciation.
Flippers have acquired a bad name among enthusiasts, as you can imagine.
So basically the whole thing is about speculation on future value, and participants are just waiting for each other to buy each other’s things? Greater fool theory at work it appears.
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Observer
·So basically the whole thing is about speculation on future value, and participants are just waiting for each other to buy each other’s things? Greater fool theory at work it appears.
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Archer
··Omega Qualified WatchmakerOkay. That's not inaccurate, I guess. I took time to explain because I have seen you patiently explain things to people with no understanding many times, including the time I told you that watchmaking was pretty much the same thing as auto mechanics on a smaller scale.
I appreciate you taking the time, as I’m just trying to understand it.
My thought was that there was some other driver, like we often see with other things, like data collection/selling by the people who create and host the game. I’m still not clear what’s in it for them, unless there are fees associated with playing? Or maybe they are also speculators? I’m just trying to follow the money, because nothing comes for free.
The greater fool theory is at work all over the economy, and it can certainly make some people very wealthy. But someone always ends up footing the bill, and in this case I’m not sure who that is.
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Observer
·I appreciate you taking the time, as I’m just trying to understand it.
My thought was that there was some other driver, like we often see with other things, like data collection/selling by the people who create and host the game. I’m still not clear what’s in it for them, unless there are fees associated with playing? Or maybe they are also speculators? I’m just trying to follow the money, because nothing comes for free.
The greater fool theory is at work all over the economy, and it can certainly make some people very wealthy. But someone always ends up footing the bill, and in this case I’m not sure who that is.
There is a company called Gala Games that has its faults, but is great about sharing development with people who are involved through ownership of the NFTs. Showing us how the sausage is made, as the lead developer puts it. Usually, a game doesn't see the light of day for gamers until it's complete. What Gala has been doing is providing access to early release, pre-beta versions of games in development such as stress tests for their online gaming network. Currently, the game called Mirandus is undergoing its third stress test where gamers can look around the environment and perform some limited game functions. They are rewarded for this by not only getting to participate and provide feedback, but will also earn a little bit of a token that will be used in game for performing tasks that will involve magic. Many people who own assets that are now very expensive bought those assets for much lower prices and have no intention of selling unless it's to finance the acquisition of other game items.
The gaming company's business model isn't that much different than traditional companies like EA Sports who make their money selling games. These companies sell game items instead, and the purchasers can sell them later. The great thing about this is that a player can buy game assets (sword, armor, car...), play the game, and when they tire of the game and want to move on they can sell those assets and buy into a different game.
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Larry S
··Color Commentator for the Hyperbole.This was good prep for the call I just had with the kid. He’s had two raises and hasn’t upped his 401k contribution. Still he is selling me on investing in Crypto and NFT’s … “Get that contribution up and we’ll talk about investing in the platforms making the real money off this I said.” After a long recap of his real money opportunities including his 401K, stewardship of his Ameritrade investments (which I encouraged)and taking control of a Vanguard account his grandfather set up for him and gradually converting to Roth, he’s promised to up his 401k % tomorrow and push through with change of control on Vanguard. Yes @Foo2rama , its gaming that has him all excited about this.
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