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Lot of people in this thread criticising NFTs and honestly I’d like to pile in. I don’t understand what Ubisoft is doing here. The best case I can make for NFT

Lot of people in this thread criticising NFTs and honestly I’d like to pile in. I don’t understand what Ubisoft is doing here. The best case I can make for NFTs is securing ownership of digital assets. Let’s say I spend a few thousand on the Steam store. Then for some reason I charge back a transaction on my credit card. Valve will instantly ban me and I lose access to everything. Now if there was instead a system where my ownership was recorded on a token outside of valve’s control and that ownership entitled the holder of the token to access the game in perpetuity, that would be useful. Maybe. But even I’m not convinced by this. Steam and other digital stores like Kindle are already hugely successful. It’s possible that people would spend more on digital goods if their ownership was irrevocable and transferable but I doubt it.

phire 5y ago
The only new thing that Ubisoft have here is making the database of all transactions public. These hardly count as real NFTs. You can only transact them on Ubisoft approved market places, only centrally registered Ubisoft accounts can hold them. And since they control the game, they have all the rights to ban items from the game, even if they insist they can't reverse transactions.
Latty 5y ago
Except the game still has to be tied to the token somehow. So when you get banned on Steam in that situation, you just have a worthless token that Steam will no longer respect. Some other store is going to respect that token you paid them no money for and give you access to the game anyway? Why? Are they going to do that for all the games bought with stolen credit cards? This story keeps getting told and it just makes no sense to me.
elevader 5y ago
NFTs stop making sense as soon as anything they are used for doesn't involve the blockchain. Ownership of an NFT that points to some fancy Team Fortress 2 hat means absolutely nothing if Valve decides that it doesn't.
ziml77 5y ago
Ownership of what the NFT represents isn't irrevocable though, only the NFT itself. Amazon could decide one day to ban you from reading the Kindle books you purchased because you violated their terms of service. An NFT is going to do nothing for you there other than prove that at some point Amazon did recognize that you bought licenses to read some books. But that really not what's under question when looking to appeal the ban with Amazon or bring them to court over it.

phire 5y ago

The only new thing that Ubisoft have here is making the database of all transactions public. These hardly count as real NFTs. You can only transact them on Ubisoft approved market places, only centrally registered Ubisoft accounts can hold them. And since they control the game, they have all the rights to ban items from the game, even if they insist they can't reverse transactions.

Latty 5y ago

Except the game still has to be tied to the token somehow. So when you get banned on Steam in that situation, you just have a worthless token that Steam will no longer respect. Some other store is going to respect that token you paid them no money for and give you access to the game anyway? Why? Are they going to do that for all the games bought with stolen credit cards? This story keeps getting told and it just makes no sense to me.

elevader 5y ago

NFTs stop making sense as soon as anything they are used for doesn't involve the blockchain. Ownership of an NFT that points to some fancy Team Fortress 2 hat means absolutely nothing if Valve decides that it doesn't.

ziml77 5y ago

Ownership of what the NFT represents isn't irrevocable though, only the NFT itself. Amazon could decide one day to ban you from reading the Kindle books you purchased because you violated their terms of service. An NFT is going to do nothing for you there other than prove that at some point Amazon did recognize that you bought licenses to read some books. But that really not what's under question when looking to appeal the ban with Amazon or bring them to court over it.