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I like how these days, especially outside of the discussions about games, NFTs are just becoming "It's Kickstarter except there's no product, we're just delivering some backer rewards" I know a NFTBro who poured his savings into creating and launching an NFT line which launched last month. To make it even dumber and consolidate it down to an even worse audience it is a Hot Sauce NFT. What do you get for owning them? Well, upon reaching certain dollar amounts sold, owners get entered in a raffle to win... weird Kickstarter-type backer rewards like hot sauce holsters, free hot sauce mailed to you, and uhh... I guess if they make enough money they say they'll start a Hot Sauce convention? I just checked it out and a month later their social media accounts are still making daily posts about how they're about to sell out (of the 10,000 in the set) and this might be your last chance to get one so you better act quick. Except NFTs all have public ledgers lmao, so I looked it up and they have sold... one. For $300. When all these AAA devs launch their NFT marketplaces, things like preorder bonuses or collectors edition bonuses or kickstarter rewards are going to be replaced by NFTs. It's going to be another way for publishers to cut costs. And I can already see some of them not even allowing you to log into the game and play until you create an account on their marketplace and connect it to a wallet to store your NFTs. e: Also looking at a lot of terrible affiliated NFT projects, "We will create a world in Metaverse!" seems to be one of the most common top-level rewards for them selling their entire set which just compounds on how bafflingly funny all of this is to me. It's like if the project is fully funded, that is when they'll start to conceptualize an end product. I keep imagining it as a Kickstarter campaign: "Hi Kickstarter! Our goal is $3,000,000 and if we get it, we'll make a video game. It will probably be an RPG or some kind of FPS and most likely science-fiction themed! When we reach the goal we'll sit down and figure it out and let you know" deep dish peat moss fucked around with this message at 01:02 on Feb 17, 2022 |
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Feb 17, 2022 00:54
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https://www.forbes.com/sites/seansteinsmith/2022/02/20/crypto-tax-planning-can-help-investors-avoid-unpleasant-surprises/ This Forbes article about upcoming tax regulation on crypto assets in the US pointed out something that I hadn't considered before. Any transfer of a crypto asset that has attached real-world monetary value, even an NFT of a sword that you got as a drop in an Ubisoft game that rotted in your inventory, incurs real-world tax liability. So if some parents buy their kid the newest Ubisoft game and and that kid played the game a ton and earned a lot of in-game items that all have attached real-world monetary value in the Ubisoft Marketplace, the children (or their parents, in certain circumstances) will become legally responsible for reporting them as income to the IRS that year. Also there's no age limit on this, it is purely based on a monetary threshold (It was $1100 in 2021) A) Lol and B) There's no way Ubisoft (or other big publishers) would open themselves up to the legal ramifications of providing tax documentation and advice, which most likely means that they will not allow a real-world value to be attached to their game NFTs, which makes this entire thing just a vastly more complicated and ecologically-irresponsible way of handling in-game inventories. That or it's going to be some system where you get a sword as a drop and a notification pops up offering to sell you an NFT version of that sword for $8.99 or whatever - something where the NFT is not actually attached to or integrated with the actual game in the first place. I don't think any game publisher will actually operate an NFT marketplace for their game inventories for more than one tax year, tops. Imagine having to send the IRS and itemized list of all the drops you got in video games that year e: I can't wait to see all the news stories about crypto bros being arrested for loving up their taxes, lmao deep dish peat moss fucked around with this message at 00:10 on Feb 22, 2022 |
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Feb 22, 2022 00:00
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Dark_Swordmaster posted:Is anyone able to explain how the NFT's themselves are ecologically damaging? Here's a well-researched article about it https://memoakten.medium.com/the-unreasonable-ecological-cost-of-cryptoart-2221d3eb2053 To be fair to NFTs and crypto, some alternate, low-carbon-impact NFT blockchains have been created in the days since this article. There's no data that I've seen on their carbon impact but it's presumptuously lower than this article posits. One thing for example that they do now is they don't actually "mint" them until they are transacted for the first time - which zeroes the carbon impact of NFTs that go forever unsold (unless the creator decides to pay an ethereum gas fee of like $30-100 to mint it when they first create it) quote:A single NFT can involve many transactions. These include minting, bidding, cancelling, sales and transfer of ownership. If we were to break down the footprint by transaction type, we get (details in Part 2): If you apply the same numbers to the total number of NFTs on OpenSea alone (more than 80 million, and it's just one of the major NFT marketplaces) that is 16,000,000 kg (1763 tons) of co2 equivalent energy use that OpenSea has pumped into the atmosphere where it will remain for 300-1000 years. For accurate context, that is only 0.016% of the total emissions of the global financial industry in 2020 which was about 10 billion tons - but it's still an absolute shitload of emissions for goddamn NFTs, from the very, very tiny portion of the population that actually engages with them in any sort of way. The author originally posted it on this site but received so much harassment, cyberstalking and abuse from crypto bros they had to shut the site down: http://cryptoart.wtf/#list=nfts It has links to sources of newer research than what's in the article. Sierra Club put out a good study of carbon emissions of the US financial sector, this problem is not limited to NFTs or Crypto (they just have much higher per-transaction costs), in general banking and financial transactions are one of the single biggest contributors to humanity's CO2 emissions  (their entire website about it is here: https://www.carbonbubble.net/) deep dish peat moss fucked around with this message at 01:28 on Feb 22, 2022 |
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Feb 22, 2022 01:03
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emdash posted:Axie was hacked for $600m https://www.theverge.com/2022/3/29/23001620/sky-mavis-axie-infinity-ronin-blockchain-validation-defi-hack-nft This is going to keep happening more and more because no one with any experience in the real financial sector is going to be developing crypto apps and no one developing crypto apps is going to understand the breadth and depth of security required for a complex financial system to operate, and the deregulated nature of crypto means the laws are tenebrous at best for holding crypto-marketplace-providers accountable for protecting their users' assets and lol the schadenfreude is going to be exquisite.
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Apr 1, 2022 07:36
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Klyith posted:Speaking of which, D&D on the blockchain! With NFT player characters! My DM doesn't give us loot because he can't afford to buy the NFTs to hand out
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Apr 26, 2022 17:42
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Lammasu posted:So, the president of El Salvador invested heavily in Bitcoin and now the country might have to default. Think they will parade his corpse through the streets? https://twitter.com/nayibbukele/status/1526029996787216387 He invited banking authorities from every tax haven and sketchy economy to a big gala about why they should adopt bitcoin as legal tender a few days ago  e: the "benefits in his country" he mentioned include things like less than 2% of the country ever logging in to or interacting with their state-sanctioned wallets and him stealing millions, lmao. deep dish peat moss fucked around with this message at 03:51 on May 20, 2022 |
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May 20, 2022 03:45
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Love how the creator of Axie Infinity is quoted in this article saying that crypto will be better now that people who are only in it for the money are out
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Jul 5, 2022 06:33
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The people on Reddit who have Gamestop stock think that over the next few days the SEC is going to force a wallstreet broker to buy all of their Gamestop stocks at a price of literally $10 million per share Makes me wonder how much of that $800k trading volume was Gamestop-holding dorks who think they're about to become fabulously rich and were spending money they don't actually have
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Jul 21, 2022 00:57
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Dark_Swordmaster posted:That's not real. There's no loving way. They cannot possibly believe this. This is a satire-gone-too-far joke post. YOU ARE LYING! YOU HAVE TO BE loving LYING! Here's what I understand of their thought process: The whole thing started because they realized Citadel Securities (or whatever their name is) was shortselling Gamestop, they sold more GME shares than they held. When they realized this, /r/wallstreetbets scrambled to buy up every GME share they could get their hands on and convince people to hold onto them until the SEC forces Citadel to purchase as many shares as they need in order to complete their sale. The thought was that all of the WSB posters could buy up every existing share and then only list them at extreme prices, which they believe Citadel will be forced to pay. They have all been "Direct Registering" their shares with Computershare which I guess prevents those shares from being used in short sales or something. (They call this the MOASS or Mother of All Short Sales [?]) On the low end, they were all banking on automated limit sell orders on computershare which had a maximum limit of $214,748 until the GME stock split a while back. However, Computershare changed the limit to $3500 per share following GME's split: https://www.reddit.com/r/Superstonk/comments/w3y1e0/computershare_new_sell_limit_order_prices/ The top voted comments in this thread are all about how this is actually a good thing because no one will actually sell at $3500 like they would have at $214,748, which means that Citadel will not be able to buy enough shares from sell orders to complete their short sale. You can see that as of today, while the GME NFT marketplace's trade volume has dropped by 90%, they're still talking about it like it's Digital Jesus: https://www.reddit.com/r/Superstonk/comments/w3w6pu/gme_marketplace_volume_1001578654_6428423_eth_boom/ I can't find them now but there are comments throughout various threads where people talking about what they plan to sell at, with most of them expecting to get anywhere from $1m-$10m per share. What I'm guessing will happen if anything at all happens (I am not a financial expert at all and have no idea what I'm talking about) is Citadel will eventually have to buy a bunch (not "all of them" like reddit thinks) but they're going to get them at under the (new) $3500 limit order price set by Computershare, because this has been a massive grift by a few outspoken /r/wsb posters all along (who could possibly be Gamestop execs or board members or something??) and they're just going to be happy with the stock they bought thousands of shares of at $30 selling for $3k each and they'll be happy to list at $3k to make sure their sales process first before the unwashed masses of reddit who are listed at $3500 e: For what it's worth it's nearly impossible to follow any of the reasoning about any of this because they've built up a weird cultish thing of worshipping contextless stats, they (used to?) post "deep dives" where they would write 10k+ word manifestos about how random spikes, statistics, numbers, etc. all lead to this grand revelation that Gamestop shares were going to be worth millions, and if you ask for clarification about what any of it means you get accused of being a "mole" sent by Citadel and banned from the sub. So I don't know how accurate my depiction is but it's definitely along the lines they are thinking on deep dish peat moss fucked around with this message at 01:32 on Jul 21, 2022 |
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Jul 21, 2022 01:19
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Here is someone who believes that the Gamestop NFT Marketplace will soon be earning Gamestop millions of dollars per hour because things like real estate deeds and car titles are going to be sold on a failed video game retailer's NFT Marketplace for some reason.
deep dish peat moss fucked around with this message at 02:55 on Jul 21, 2022 |
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Jul 21, 2022 02:53
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I imagine whoever sold them on the idea in the first place has convinced them that the backlash from gamers is no different than it was when Oblivion sold Horse Armor
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Nov 4, 2022 07:13
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small butter posted:Unity just released a bunch of "verified" solutions for blockchain: Unity merged with ironSource (a company that finds innovative ways to insert ads into every-loving-thing) last year for pretty much the explicit purpose of doing this, and filling Unity with a bunch of other trash-tier ways for devs to monetize their games: https://techcrunch.com/2022/11/07/unity-and-ironsources-4-4b-merger-is-now-complete/ Meanwhile its CEO made statements about how monetization should be the main focus of any game dev and said indie devs who don't put monetization first are "some of the biggest loving idiots." https://www.thegamer.com/unity-ceo-game-dev-monetization-fcking-idiots/ I would not at all be surprised if future versions of Unity do something like charge the devs nickle-and-diming fees in several obtuse ways which the dev can sidestep by paying a yearly premium or by clicking an "enable ad-supported" toggle that makes the players watch ads regularly with all of the revenue going to Unity to cover the fees. (Much like every "disruptive" software company that grows big, as soon as they "disrupted", got the market share and pushed several competitors out of business, they panicked because there was no more market share to gain and began tanking their product for the sake of their investors' returns - and they will probably be wildly successful because they do not have much competition anymore) deep dish peat moss fucked around with this message at 04:15 on Mar 2, 2023 |
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Mar 2, 2023 04:04
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SettingSun posted:So they're just making normal games with a hidden backend? Does not compute. That quote could mean anything, like maybe they are sticking hidden crypto miners in games. But more realistically it sounds like they're trying to set up a framework for regular games to attach to that allows the transferring of NFT-based items from other games into the non-NFT-based games. Maybe?
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Apr 20, 2023 01:13
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