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One element the author called out at the bottom was a possibility of ICO (coin offering? maybe that includes token offering) where its like a kickstarter where
by mattbrewsbytes 5y ago
One element the author called out at the bottom was a possibility of ICO (coin offering? maybe that includes token offering) where its like a kickstarter where the crypto involvement is for paying back investors somehow via in-game NFTs. Like it could be investors/coin/token holders get some % of in-game purchases like a royalty for backing the game. This concept could apply to any digital business as well with some safeguards built in (escrow or something) to prevent/minimize scams.
Actually sounds more like an IPO and "shares" are really NFT's with dividends going to token holders. Could be an interesting model if its all crypto, the volatility is likely the biggest issue then.
(I may be using completely incorrect terms, I'm not an expert on these things but it sounds like a plausible implementation)
- paxys 5y agoThis model already exists – fund a game (say on Kickstarter) and in exchange get a free copy and/or $X of in-game virtual currency. What does blockchain/crypto/NFT add to this?
- mattbrewsbytes 5y agoI guess the only thing I can think of is the ability to sell your “share” of the project and what you get back as a royalty after launch is usable outside the game. Almost all scenarios do end up with “you don’t need crypto/blockchain for that”. Edit to add: there are many examples of software solutions using tech when there are other tech solutions also viable. This doesn’t negate the possible use of another tech just because something else also does it. See NoSQL for instance.