Going back to NFTs in games, it could take years to recover from this.

My brother is in security in the IT industry and tonight we were discussing nfts and crypto. I’m new to the idea of nfts and was curious why nft technology couldn’t be used to prove ownership of a certain amount of crypto so that if someone steals the crypto they wouldn’t be able to use it because it doesn’t belong to them. He basically said that if they have a password they can steal your nft. I said “well either I don’t understand the technology or it’s not very special if it’s only yours because you know the password.”

I thought the proof of ownership was encoded in the nft beyond just a password.

Could someone clarify this for me? Thx

Both of the following can be true:

NFTs will be transformative in ways we can't imagine.
99%+ of current and future NFTs will be worthless a few months to a few years after creation.

You can view the world of crypto as full scams and that anyone sensible should avoid it at all costs or view crypto as a testing lab of ideas. The proliferation of NFTs isn't a negative. The quality ideas will flourish and the bad ones will fade away. It's a repeat of the ICO wave from a few years ago.

I'm very excited to see what comes in 2022 for blockchain and gaming.

Exactly. An NFT is nothing more than a unique URL on a blockchain that points to a digital entity that the NFT buyer doesn't own. It's pretty much just a donation to the original owner, except that the donation can be resold.

JFC that looks so bad. IMO this style of games will be quick to crash and burn, when they realise everyone playing is an investor trying to make money, and not a gamer having fun. Likewise with Axie.

I think the way that AAA studios are implementing them into games is going to be a big thing going forward. For instance what Ubisoft are doing with NFTs in Ghost Recon, with cosmetics and achievements NFTs. Sadly this approach doesn't really benefit many apart from Ubisoft. They also have a track record for egregious monetization in games, they were one of the first to add microtransactions into single player games.

Aside from below **** show, Ubisoft stepping all over themselves with trying to hop on NFT train. Legacy studios/games are going to have a hard time trying to expand into NFT functionality, Innovators' Dilemma

Modern , newly launched / launching NFT games going to have much easier time cutting into legacy games market share .


See Valorant Vs Chainmyth. gg Valorant.





@peteblow post an entierly different area of NFT ezpansion and might be the biggest one yet. Selling NFT real estate in the Metaverse. current projects like dentraland's money inflow boggles the mind

So I just watched the teaser trailer for Chainmyth. It looks like someone spent a week learning to make games in Unity. There are about 10 bugs from 1:15-1:30. I have to say, that is one of the funniest game trailers ever.

I haven't looked into the nft side of the game though, maybe that makes up for it!

game is still its prelaunch. that trailer was from I dont know when.

My point I was trying to make these new start up studios, who were funded with NFT sales (vs big studio ) have the advantage of building game from the start with blockchain/NFT features (staking, renting , P2E ICOs, in game assets ->> outside world) Plus have 10s of 1000s of active discord members pre-launch. that are already invested in game emotionally and 1000s already invested with $$$

Could big established studios do the same, sure. do any of them seem to be doing it , no.

In the future there will be no such thing as a game that doesn't have NFT / Blockchain integrated into it. these littlle startup studios coming out of the NFT space today will be the monster studios of tommorrow as legacy behemoths of today are just unwilling to eat there own young... even though its there only play

Its only a matter of time til there is some sort of minting built into games.

Imagine a Fifa equivalent where when you buy packs, instead of getting a pre-existing irl player, it mints you an in-game player with random stats/looks - obviously randomised in the same way as it is currently whereby you have 1/XXX chance of minting something with legendary stats.

Same thing with skins in CSGO etc

Didn’t address my question

So nfts are just password protected like btc? I don’t see what’s so special about the technology then

I'm sure EA are way ahead of the game on NFT's, and I wouldn't be surprised if something like this is in the works. At the same time, couldn't they implement this type of pack using their existing data structure, without blockchain?

CSGO skins already have this. You can buy a lootbox with a random tier skin, then you are free to use it or sell on the Steam marketplace.

Im gonna turn my chips into NFTs so nobody can take them ever again

EA CEO Thinks they are the future but not sure how they will work. LOLZ .

By the time they figure it out so many games will be so far ahead of them using NFT Techniques that it wont matter

https://www.************.com/2021/11...hat-hes-unsure

It's not the CEO's job to know how they work, they spend millions on research for that. Companies like EA, Activision, Epic and Ubisoft own the biggest IP's. The odds of an indie NFT football game taking the market share from Fifa, or an indie NFT battle royale game overtaking Fortnite are pretty low.

At the end of the day most people who enjoy gaming are in it for entertainment, not to make money. Similarly I'd rather watch a quality movie than be paid to watch a bad one.

The issue with a lot of these NFT game projects, is that they are focused more on the investment side than the game itself.

I noticed so many red flags from reading the website and whitepaper for Chainmyth. They spend more time talking about the investment opportunity than the content of the game. The developers have pretty much no experience developing games, for a lot of them this is their first project. They also have no one working any sort of security role. Competitive FPS games have a huge issue with people botting/hacking, and they invest millions in ways to prevent this to make the games fair. Riot go the next step by tracking your hardware to try and prevent hacking in Valorant. These games aren't play to earn, so I'd imagine there would be way more incentive to cheat if there was.

I'm sure there will be some indie NFT games that succeed, but big studios are way better equipped. All they have to do is integrate the technology into their hugely successful titles.

thats what myspace said about facebook
blockbuster said about netflix
marriot said about airbnb
yellow cabs said about uber
etc, etc etc

I dont think either us are going to convince the other, so lets just talk in a year , deal?

facebook currently the world's biggest purveyor of misinformation and its latest venture, the metaverse, is a dogshit looking version of second life which came out 15 years ago

airbnb is helping destroy housing markets by turning every property into a potential hotel room, kudos to the states that are cracking down on it

uber is one of the worst employers in the country and spends millions to make sure its drivers can't have healthcare or other employee benefits

so the comparison to a bunch of corporate **** that slowly sucks the life out of the world is pretty apt

I'm just talking about successful new business models destroying old ones. They do this for only one reason.

To make ****ing bank.

The morality or lack of morality of making bank is another topic. But odd for anyone in the poker world to call into the question the morality making bank. Thats kind of poker's thing.

That's fair, sure I look forward to it

No, the “password” is the only way you “own” it.

The password is really a private key which is much longer and more random than a usual password.

Because it’s very difficult to remember and correctly store a very long key, the seed phrase system got invented which maps normal English words to the key. There’s a bunch of other possible small details like using one key to generate another. But the password analogy is 99% accurate.

Bitcoin works the same way. You don’t store bitcoin on a wallet. You store the password that proves to the network that the bitcoin is yours.

My take on NFTs is they are mostly silly but are also interesting from a social, economic, and game theory level. If you look at something like Bored ape yacht club, it’s basically a microcosm of what got bitcoin popular, where if there’s collective belief it’s valuable, and enough hodlers refuse to sell, the price goes up. And you have the community aspect of being in that club.

I was a skeptic for a long time on things like NFTs because I come from a software engineering background and the technology is slow and expensive. But I’ve since realized things like NFTs are more about psychology and economics than just technology. Not a coincidence they’re popular amongst poker players.

Football games such as championship manager generating their own players dates back to the early 1990s and probably earlier.

This would be "minting" them rather than "generating" them though so the greater fool theory guys will be all over it.

To me anything, that is controlled by a large company doesn't need NFTs to mark which user owns what, they can do it simply and efficiently in their database.

Ty for clarification

No

NFTs will become a thing in everything

Poker is a thing

Thus, NFTs will become a thing in Poker.