Like many I am willing to buy NFTs and enjoy their many benefits.
Steam will likely try to capitalize on it when it becomes an even bigger market by either introducing their own marketplace or token or something else.
Steam will likely try to capitalize on it when it becomes an even bigger market by either introducing their own marketplace or token or something else.
They may be a big business, but its not clear at all that it is th kind of business that Steam wants to be in. Just because a business opportunity exists doesn't mean a particular existing incumbent business in a different field will transition to engage in it.
I'm trying to think what "many benefits" those might be... can you clarify?
...and I'm being honest because I don't think any court in the world has ever acknowledged an NFT as proof of ownership in any dispute.
An NFT is "ownership" of a hash of the work, with no actual rights attached thereby.
Usually the more scummy ones you see are limited piece PFP collections with rarity traits etc. The OGs( cryptopunks) where interesting as the first NFTs to be ever made but the current churn is just hype. Besides that the more artistic generative collections like the art blocks curated are interesting. Most of the big pieces are in the collections of people that have no intention to ever sell them. Some are experimenting with online galleries of shorts.
Basically throughout the whole hype bubble with nonsensical projects( crypto is the definition of fuck around and find out) there are some who are exploring some cool artistic stuff. Personally I never understood high art so I'm staying out of it.
Also don't get caught up on the prices, these are priced in Eth, not $$. Eth was $80 a couple years ago and a few cents when it launched( and yes I do know people who have held eth since way back then). When something appreciates so fast it makes sense that some people are more willing to spend it in such ways.
They're actually relatively simple. If you want to see some of the more complex NFT ecosystems that are really pushing boundaries, see Loot and NeoTokyo.
https://variety.com/2021/biz/news/wme-signs-pixel-vault-1235... -- WME has signed Pixel Vault, an IP business dedicated to drive value to NFTs. The agency will grow Pixel Vault’s catalog of IP beyond its established NFT business into other areas including film, television, podcasting and gaming.
3rd party writeups: https://zeneca33.substack.com/p/letter-12-punks-comics
https://www.futureproof.xyz/post/pixel-vault-quick-take-on-t...
1. A way to pay the artist directly for the work/effort being made (and against the counter-argument of "you could always buy a painting/physical artwork, its much better and would also be helping the artist" there is the: i don't need another "physical" artwork - my home is already littered as is; i just like to contribute and give money to people that are doing cool things and NFTs allow me to do that in a clear direct way)
2. NFTs bring a simple way to find and monetize/create value around previously hard to value/commoditize art domains like: interactive art, generative art and iterations - around authority sites like hic et nunc et al (now i can for the first time peruse common places that serve NFTs and fund/incentivize certain art styles that were previously out of the generalist/mainstream art market - previously how would you pay for a generative art and immediately have the creator reach you out for a conversation over its style and substance?)
3. An immutable receipt that i paid for it (which can be anonymous, but still it is good to have)
here is a bonus point that I personally don't find it as cool, but still worth a mention:
4. There is a whole after-market movement for these immutable receipts, look for it, people are cool, friendly and creating new amazing things with an incentive that is stronger than ever to produce new digital trendy objects (some you can even interact with, some might change whenever they get accessed, some might even freely stop existing at some point in time... its crazy ahah)
hope this helped in any way
2. The monetization of art is a heavily controversial topic and a lot of artists rightly think that patronage is a much better system to exist under since it provides a more reliable and stable income.
3. Paper is pretty immutable generally speaking. I don't think NFTs will actually significantly impact issues around long term art providence with both laundering and forgeries still remaining prominent. Additionally, almost all of the art world already supports publicly anonymous transactions to protect purchaser privacy.
4. I think there's some interesting stuff in this realm with interactive art - but I think there are ways to accomplish much the same thing with conventional sale processes.
I fail to see the point here.
Are you speaking for the ones that like to support cool art or against them? are you speaking for the artists? or just generally against NFTs as an alternative tech innovation to a current existing problem?
2. With nfts the monetization of art is at least one step less controvertial than current approaches and does not exclude or goes against patronage (which is always a valid non-exclusive approach that can coexist with and along nfts)
3. Paper can be stolen, can be destroyed and is not public by default (it stays in your pants pocket while they go to laundry)
4. Good for you ;)
Why allow money to go out when it is almost yours anyway.
Axie Infinity just recently raised $152M at a $3B valuation, and it's not going away. People from the Philippines are making a livelihood out of this game, and that is so powerful I can't even put it into words.
The genie is out of the bottle so to speak, and the entire world is going to get into P2E games and the metaverse sooner rather than later. If Steam is really serious about not entertaining this, there is a HUGE opportunity for a new contender to come in and disrupt them by allowing blockchain-based games. WebGPU + WebAssembly in particular is a fascinating way to deliver binaries without having to go through walled gardens, and you can today hook these games up wallets like Metamask. I'd go as far as to say a meaningful part of web3 will be decentralized gaming on the blockchain.
That just sounds like CryptoKittens
> Axie Infinity uses NFTs for the rights to each pet that is purchased. To grow these pets, you purchase or farm SLPs, or small-love potions. You can sell these pets or SLPs for cryptocurrency, then swap into your respective currency.
I don't see what's novel here, the game was intentionally designed to store inventory/assets with NFTs. It sounds like these people are farming in-game items and selling them to other players (whales). It's literally just gold farming in wow except allowed by the developers. Any other game that lets users trade their inventory for crypto (to prevent charge backs if you were using paypal etc) could also do this without NFTs.
I wouldn't want to play a game that allows gold farming, because then the metric of your progress isn't how much time you've spent playing, but just how much money you've spent on it.