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Sure, that works in theory. If you basically magically change the whole gaming market landscape in a fundamental way. In your point you are basically leaving o

Sure, that works in theory. If you basically magically change the whole gaming market landscape in a fundamental way. In your point you are basically leaving out many steps: > If a 'set' of items represented by NFTs is valued by a large group of users Good thing you mention this, we don't have to speak hypothetically to evaluate this. Highly valued assets on a gaming marketplace already exist with Steam Marketplace, where you can buy and sell virtual items from games that exist on Valves Steam Platform (Steam offers an API for this and developers can support the feature if they choose to do so). Items for e.g. Dota 2 have been sold between players for >2000$ on the Steam Marketplace, I believe this deserves being called highly valued by a large group of users. The Steam API offers the ability to check a users inventory [1], so any game that is on steam could verify your ownership of a marketplace item and do something using that knowledge. Steam is a huge platform, so huge in fact that for many players Steam is PC Gaming, right now it sits at ~23 million active players (that is only players that are currently playing any game they own via steam). Now let's go back to NFTs. What would they change? Basically connecting them to games somehow would be just the same thing, which is verifying ownership of items outside of Steam. "Outside of steam" is not all that many players and it is very hard to get them away from there, just look at the struggle of Epic to pull users away from Steam: they have now been giving away >250 games (including many AAA titles) for free since 2018 [2]. And Valve has made its stance on NFT/Crypto pretty clear for now [3]. I believe that this puts into perspective how realistic the NFT gaming revolution is. > Items which offer in-game functionality first and foremost, and are released according to semi-predictable mechanisms are the stronger case. Those, in my opinion, would be even harder to carry across games because they are even further embedded inside the engine and programming and logic. > In this case it will not be the game developers controlling the items, it will be artists who sell the raw NFT which becomes integrated. So if I understand you correctly you believe in a market of NFT driven games that explicitly form around NFTs, rather than NFTs finding their way into the existing gaming market? [1]: https://partner.steamgames.com/doc/api/ISteamInventory#GetAllItems https://partner.steamgames.com/doc/api/ISteamInventory#GetAl... [2]: https://www.pcgamer.com/epic-games-store-free-games-list/ https://www.pcgamer.com/epic-games-store-free-games-list/ [3]: https://www.theverge.com/2021/10/15/22728425/valve-steam-blockchain-nft-crypto-ban-games-age-of-rust https://www.theverge.com/2021/10/15/22728425/valve-steam-blo...

mattwilsonn888 5y ago
Right, I think you make a lot of good points which I (for some reason) had to remind some friends who have spent money gambling for skins in games that virtual items can indeed have sustained high value appraisals from large groups of users. From a user perspective (assuming the NFT's were on a chain with reasonable tx fees), liberating one's Steam inventory would likely be a net positive depending on the player (some are susceptible to scams and would do better to remain in Valve's safer, slower system). Being able to trade skins directly for money to anyone with no third party and no corporate tax rate would be great. The issue of course is that Valve has no reason to do this, and this is important, because a huge part of the reason in game items have dollar value is that they have aesthetic value in popular, well crafted games. Anyone who makes a quality video game will seek to monetize their in game items, not liberate them through NFTs. For this reason I am indeed saying that NFTs and their properties have to be a selling point. This means that game developers make their money up front on the initial minting or selling of the NFTs (hoping that the real promise of a forever more decentralized market adds a premium - this should also include a promise of no future releases or algorithmic/predictable future releases), or the NFTs existed before the game and were valued enough that integrating them into a game after the fact is somehow profitable. Its certainly an interesting space (will be a lot more interesting when volume flows across cheaper chains than PoW Ethereum).

mattwilsonn888 5y ago

Right, I think you make a lot of good points which I (for some reason) had to remind some friends who have spent money gambling for skins in games that virtual items can indeed have sustained high value appraisals from large groups of users. From a user perspective (assuming the NFT's were on a chain with reasonable tx fees), liberating one's Steam inventory would likely be a net positive depending on the player (some are susceptible to scams and would do better to remain in Valve's safer, slower system). Being able to trade skins directly for money to anyone with no third party and no corporate tax rate would be great. The issue of course is that Valve has no reason to do this, and this is important, because a huge part of the reason in game items have dollar value is that they have aesthetic value in popular, well crafted games. Anyone who makes a quality video game will seek to monetize their in game items, not liberate them through NFTs. For this reason I am indeed saying that NFTs and their properties have to be a selling point. This means that game developers make their money up front on the initial minting or selling of the NFTs (hoping that the real promise of a forever more decentralized market adds a premium - this should also include a promise of no future releases or algorithmic/predictable future releases), or the NFTs existed before the game and were valued enough that integrating them into a game after the fact is somehow profitable. Its certainly an interesting space (will be a lot more interesting when volume flows across cheaper chains than PoW Ethereum).