Ever thought of building something unique from scratch? Ever thought that it could be listed for a price which a specific cluster of collectors would pay? Investments, nah.
You pay for it, congratulations, you own it. Yes, you heard it right, NFTs are the new meta. NFT, known as a Non-Fungible Token indeed has taken everyone by storm. They can be anything, say a piece of artwork, music or any other digital creation.
The most important question here is, “Does anyone know what they really are or how do they look?”, “Where will I get the proof of ownership?”.
This was answered by Ubisoft as a part of their Quartz initiative where they drafted an NFT platform for their title, Tom Clancy’s Ghost Recon.
It was indeed done when the community were rhetorical about the Blockchain technology although Quartz was dubbed as the “not-at all forced program” by the French Publishers.
Surprisingly we have something from Gabe Newell, co-founder and president of the video game developer and digital distribution company Valve who shared his opinion to eurogamer.net regarding the NFT technology in gaming. He stated,
“”The things that were being done were super sketchy,” Newell told Eurogamer. “And there was some illegal shit that was going on behind the scenes, and you’re just like, yeah, this is bad. Blockchains as a technology are a great technology, that the ways in which it has been utilized are currently are all pretty sketchy. And you sort of want to stay away from that.”
As far as we know, with NFTs scaling new heights, it is still unclear whether they would be the next face of the cryptographic assets on the globe or be just another public attraction. Mr Newell continued,
“We have the same problem when we’re accepting cryptocurrencies, 50 percent of the cryptocurrency paid for transactions were fraudulent, right? You look at that and you’re like, well, that’s bad. And then cryptocurrency volatility meant that people had no idea what price that they were actually paying. Yes, they were anchored to a cryptocurrency, but most people’s wages are not in cryptocurrencies. So they’re like, how come I just paid $498 US dollars for this product? And if the answer is, you know, that’s what happens when you have a highly volatile currency that you’re paying for. That’s like, today, you paid 99 cents for it tomorrow, you’re going to pay $498 for and people that make people super cranky. So it just wasn’t a good method. The people who are currently active in that space are not usually good actors.”
