SE's pivot towards crypto and NFTs has me scared

[Katie_Kitty]

FFXIV is on Steam and Steam has banned all NFTs from their platform. We should be safe because of that. Plus, I believe Yoshi-P would fight against it in the 1st place.

People keep saying this, but I don't really see why anyone would think this. Yoshi is an old male suit just like the rest of them. He's not the cool uncle, he's just the director of the game and that means he likes to keep good PR. He's also not your friend, he is a square-enix employee, dedicated to continued growth for the company just like any of the other suits he works with.

[Haseno]

The US dollar is collapsing and the Federal Reserve expects for the US Dollar to crash hard in the near future. They're already planning to create a Digital Currency to replace the US Dollar. All the corporations know it, and that's why theyre trying to create their own digital currency. Numerous corporations have been investing heavily into crypto since the Covid lockdown started because they know what's coming.

Its not just because the tech is new. Crypto was invented specifically to compete with the Federal Reserve. The US Dollar has lost almost 100% of its purchasing power since 1913, and a BitCoin is worth approx $60k/coin.

The move to NFT/Crypto is much bigger than what most people comprehend.

[Lunalepsy]

It's a dangerous slippery slope!

[dapperfaffer]

I am going to sound very ignorant. I really don't understand what an NFT is, and explainations from what i've looked up don't really explain. All i know is that apparently it was done to Stan Lee, which caused outrage among the comic community.

In a nutshell.
An NFT is a Non-Fungible Token which means that it is a cryptographic asset with unique code and metadata that help distinguish it from other NFTs.
So what it is used commercially as is a data bin that holds information and the most common application is that of a single: gif, jpg, png, svg, wav, ogg, glb, glt, webm, mp3 and mp4. What makes that data bin valuable is when the data it contains is exclusive to that bin and you can't get that information anywhere else.

And that NFT is stored in a digital ledger (a block), which is basically like a digital storehouse that records all transactions that occur within that segment or group of other peoples ledgers, which creates a chain, which is called a blockchain and that blockchain has a specific security signature called a hash which helps prevent fraud. This also helps manage activity of the blockchain.
Then you have hubs that then allow those NFTs to be sold on them to act as a marketplace.

So what happened with Stan Lee was his likeness was used to market a NFT collection.

[Doragan]

So, I don't thinkit's a far stretch to imagine another CEO who, looking at their Bravia and Playstation lines, thinks... "you know, we could put ugly apes into these too"

Christ. Sony would never forbid that kind of stuff, now. Maybe SIE.. but.. yeah, it is a done deal already,huh?

The article I've read also mentions they annonced "eco friendly TV remotes" at the same time. The greenwashing couldn't get more obvious. I'm stunned.

[Lihtleita]

The US dollar is collapsing and the Federal Reserve expects for the US Dollar to crash hard in the near future. They're already planning to create a Digital Currency to replace the US Dollar. All the corporations know it, and that's why theyre trying to create their own digital currency. Numerous corporations have been investing heavily into crypto since the Covid lockdown started because they know what's coming.

Its not just because the tech is new. Crypto was invented specifically to compete with the Federal Reserve. The US Dollar has lost almost 100% of its purchasing power since 1913, and a BitCoin is worth approx $60k/coin.

The move to NFT/Crypto is much bigger than what most people comprehend.

wow. but im not an american.

[Caurcas]

The US dollar is collapsing and the Federal Reserve expects for the US Dollar to crash hard in the near future. They're already planning to create a Digital Currency to replace the US Dollar. All the corporations know it, and that's why theyre trying to create their own digital currency. Numerous corporations have been investing heavily into crypto since the Covid lockdown started because they know what's coming.

Its not just because the tech is new. Crypto was invented specifically to compete with the Federal Reserve. The US Dollar has lost almost 100% of its purchasing power since 1913, and a BitCoin is worth approx $60k/coin.

The move to NFT/Crypto is much bigger than what most people comprehend.

Man, Andrew Jackson was based. We should've kept doing what he was doing.

[Pawkeshup]

Second of all, this is very different from a normal microtransaction. The underlying promise of NFTs, in and outside of video games, is that you can get rich off of them like some sort of stock - which is essentially what they are, only with zero regulation around them, a framework that allows for flagrant gaming of the marketplace, and virtually zero security in terms not only of your possession of your investment, but of its continued existence. At least when you purchase items on a game's marketplace, you know what you're getting. All these corporations and individuals trying to force-feed us NFTs are trying to sell people on a promise that will go virtually completely unfulfilled for the overwhelming, vast majority of gamers.

That aside, if you have any concept of how game design has been compromised by the need to cultivate a framework for monetization beyond the sales of the games as a result of microtransaction, you should be disturbed by what the impact would be should those in-game items be treated as the main course of a title, with the games themselves being a side-dish that the vultures driving blockchain commerce can take or leave..

Oh but see, I don't think you go quite far enough. The new trap of the Cryptogame/NFT market is to have a closed infrastructure where you have to use their branded crypto to buy and sell items, and they charge fees on every transaction and exit fees if you try to cash out, with limits on how much you need to have to cash out.

The big deal with preorders for companies wasn't for ensuring sales. Back when they used to make physical copies, those discs were going to be minted out. Maybe they'd make a second run if they had a wild amount of pre-orders. The real reason was that the money could immediately be acquired months before the game's sale to be re-invested either in the company or literally in other ways to make that money make them more money. Even just interest on it would be insane at even tiny percent amounts.

Now imagine turning the Mogstation into fully Crysta based, with Crysta becoming their coin. No more just hopping in to buy a mount, now you need to convert your money to their fake money. Then they charge you a fee on that. Then you buy the mount. Fee there too. Then let's say they make mounts tradable if bought this way, and you sell one. Fee for both you and the buyer. Then let's say they allow a cash out. Fee there too.

They can literally make money by doing NOTHING but being a vendor of the exact same digital goods while at the same time misleading speculators about the market's viability for "making content" or whatever corporate speak the head of the company spewed out.

Hopefully the dev team knows better to let them touch the game after all the feedback they ignored pre-1.0 that could have led to FFXIV being better at the start.

[ItMe]

The US dollar is collapsing and the Federal Reserve expects for the US Dollar to crash hard in the near future.

They're already planning to create a Digital Currency to replace the US Dollar.

All the corporations know it, and that's why theyre trying to create their own digital currency. Numerous corporations have been investing heavily into crypto since the Covid lockdown started because they know what's coming.

Crypto was invented specifically to compete with the Federal Reserve.

The US Dollar has lost almost 100% of its purchasing power since 1913,

Can you throw us sauce for some of these?

[dapperfaffer]

I don't know what an NFT is. Will devs create significantly less and worse content in XIV because of it? If not, then I do not care.

No, what would probably end up happening, or what would be the most likely scenario, is SE would create specific content tied to an NFT, then anyone who would want that content would buy the NFT. So SE would make tons of money off people buying the NFT but the NFT would devalue over time as more people bought the NFT to have the content. So what would happen is the value of the NFT would remain fixed for SE but depreciate for anyone who owns it. And then have NFT purchasable items only to keep the value of the blockchain high by limiting circulation of the NFT creating an artificial scarcity for the NFT. So for the player who invests in NFTs they would need to constantly be buying the content associated to the NFT in order to make money while SE makes money regardless.

What it would encourage is development for NFT specific content, that could also be double dipped into the mog store when the amount of the NFT hits a circulation threshold. That and people would think they would have resale control over the NFT which SE or any company will never do since that would require releasing more copyright control than what is financially beneficial for SE to do.