Over the past year, NFTs have grown in popularity. Non-fungible tokens were seen as a way to gain exclusive ownership or access different media and even gave streamers like Mizkif big money sponsorship opportunities. While the premise behind NFTs may seem like the natural evolution of cybersecurity and being able to bypass hacking when it comes to individual works of art, they aren’t necessarily the perfect answer.
The data for individual NFTs varies, because unlike cryptocurrencies such as Bitcoin, each NFT can have its own value. It sounds like a win for a market like video games, where individual games, bonus content, and other related digital stuff could be rated and tracked, but it could easily do more harm than good. NFTs depend on the blockchain and, like other uses of the technique, are extremely resource intensive. They rely heavily not only on natural resources, requiring a lot of power to operate, but also on hardware resources like graphics cards which are already scarce.
Problems with NFTs in games
The large-scale adoption of NFTs in the video game industry could be a step backwards that greatly harms both society and the environment. As fun as video games are, they already require fans to use a lot of energy to run. Every format, from PC to Nintendo Switch, requires some form of power supply, and the addition of NFT video games could dramatically increase the amount of power already used by the industry as a whole. This makes the recent reviews of Phil Spencer’s NFT games from Xbox a little reassuring, but not too much.
While the technology seems to be evolving, with its current phase being very speculative, that doesn’t mean there aren’t those who are ready to embrace it. While industry titans like Xbox or PlayStation may not have made it yet, there is still potential for NFTs and other cryptocurrencies to become an option of choice. Death by the light of day has been criticized for selling NFTs, and if more popular games follow suit, it could quickly spiral out of control. This could lead to defamation of video games as people use a source of entertainment that appears to be contributing to climate change and having an overall negative impact on the environment.
In addition, the sporadic nature of DFTs could adversely affect the operation of the industry itself. Video games generally sell for similar prices, with different editions being priced differently. Even smaller games and indie titles tend to share the same $ 15 to $ 30 range, depending on the amount of content in the game. The introduction of NFTs as a larger aftermarket option could disrupt this. and lead to wild prizes that seem more exploitative of people and art than they are representative of building a community around games. This is something some may have seen happen with NFT gaming before. Epic Hero Battles.
Using a system that’s often seen as a way to prevent art or intellectual property theft, it looks like the game was able to do just that. While this may not negatively affect big titles and studios, it could hurt smaller teams who might fall victim to similar practices. So during Neopet NFTs might not risk having their art stolen, small creators might still find that their original characters are being used for online marketplaces that they may not be associated with.
Fortunately, the bright side of NFT’s current relationship with video games is the way the big names seem to be trying to avoid them. One step further than Phil Spencer’s comments about them is Steam’s ban on games featuring cryptocurrencies and NFTs. While some see them as the future of video games, they can come with a lot of baggage: NFTs can negatively impact the planet’s environment and retain their real value, despite the digital nature of cryptocurrencies. . The steps to avoid NDTs might be seen as extreme in the future, but until their impacts are so damaging, it seems like a step in the right direction.
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The hype about controversial NFTs has spread to the gaming world, resulting in items being sold for massive amounts of cryptocurrency.
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