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Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.
(markets.businessinsider.com)
this post was submitted on 21 Sep 2023
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So it was like we thought all along, cool.
Depends what they are. I have a bunch of NFTS and they have all mostly held their value or increased. The difference is they are all related to games, and the most I have ever paid for one was probably like $15, with the average being like 50 cents. This only seems to be looking mostly at art NFTs on ethereum networks. I don't have a single NFT that uses ethereum, although I know that was the craze, especially for "investments". Which anyone with half a brain should have been able to tell someone an NFT is not a good investment plan.
Frankly that says more about the gullibility of gamers than the legitimacy of NFT. Gamers will pay for the chance of getting access a fictional character in a game that will eventually close its servers and take everything down with it. They can't seem to differentiate the value of something within the fictional ludic context and the value of something as a piece of media or an entertainment product, and gaming/tech businessmen these days take full advantage of that oversight.
What about the enjoyment they get before the game indeed does shut down? That's gotta be worth at least something right?
Definitely less than it would be from having a game which they can keep playing, and getting that content permanently.
Is the enjoyment of getting a single instance of a single character, sometimes not even having full access of their abilities, worth as much as an entire other game? Maybe even a console or more, as the price surpasses hundreds of dollars? Not to mention any other practical things that they could use that money for.
However much one might argue that value is subjective, what isn't subjective are the conditioning tactics being used. Habit-forming mission and reward structures, content being put in gambling formats to incentive compulsive spending. The fact that the game is bound to private servers is itself generally only done to enable monetization, and even more cynically, to force players to move to the next thing once that one ceases being sufficiently profitable.
I see enough people ultimately regretting how much they spent to question if they ever got that value out of it.
I don't disagree, there is a lot of shady shit going on, but the state of gaming is what you're describing. I'm having a lot of fun with BF2042, but it's a live service game with servers provided by EA. It will get shut down, which is retarded, but I'm still enjoying it while I can.
There are of course exceptions, like Baldur's Gate, but overall, not a good vibe unfortunately
For all my criticism, I do enjoy some live service games too, but I'm of the opinion that any live service game would have been better off without those conditioning tactics, without a balance marred by Pay2Win and power creep, and if it was hostable by any player. Not all them are fundamentally bad, but they are made worse by these elements.
But unfortunately, games keep being made that way because it's more profitable.
It is worth something... a refund.
Have you ever ate something enjoyable? Absolutely worthless
Honestly these games are so crude that most regular gamers would never even think of them as games. There are a lot of failed projects, that really just did become click and play, but there are a couple good ones on WAX. MoM is a part of WAX and has turned into something interesting, albeit they had to add extra revenue models, although I think the Devs are mostly Ukrainian... so they are likely going through some shit.
(The easiest way to describe MoM, is as a trading and crafting game. It's definitely not for most, but I enjoy playing around in the real life economical ecosystem thay has developed. There are arguably other points to it, but I think those arguments are weak...)
At first I thought you were a clever advertisment for that game, but as it turns out searching "mom wax" does not garner any results about games at all, so if you're not pulling our legs and they game actually exists could you post the full name? It sounds interesting
Are we talking about CS:GO skins? Because I never got a knife.
Why did you even buy them though? Surely you could have just downloaded them for free?
Because they are tied into the game. The NFTs contain information about the game asset. And a lot of the NFTs weren't bought, they were generated from aspects of the game. I don't know how else to explain it, without detailing the entire game or subset of games this falls into.
I will say, that I am lucky, picked a good project and didn't spend too much.
Yeah same here. I’m a Solana dev and have collected a handful. I’ve spent maybe $50 total the last two years and all together probably worth $3k or so
That's actually one chain I have some NFTs on. One of the games uses a dual Wax/Solana system for it's NFTs.
You keep talking about the games, which games?