Keep NFT out of FF14

[SamsaraTrickstar]

This is not correct. While most cars are depreciating assets not all are and some have increased in value over time. Just search google for 'cars with appreciating value.' Once again, the market decides the value of something

You are now calling for me to be banned for having an opinion that is different from yours? A forum is as place for debate however I just realized that you were the same person that wanted to use force against me in a previous post. This will be the last time I reply to one of your posts and suggest that you take break to calm down. I have not attacked you nor do I plan on doing so. Have a good day.

not for any opinion you are openly promote scam. to kids as well.

[SamsaraTrickstar]

Just to be clear. A pump an dump is a scam that requires the original holders to pump the value of something through misrepresentation and lying. This is done by promising returns in the future that the originator knows will not happen and then dumping on the next investor. That is not what is being done with NFT's. I own NFT's and have never once talked to the seller. Nobody has tried to convince me in the concept of future profits. Hype exists, as it does with any product with demand but at the end of the day it is just a digital good. If I decide to sell them later I hope I can make a profit, just like anything else. If I don't then I don't, such is life.

that is how NFT market works

[StouterTaru]

Just to be clear. A pump an dump is a scam that requires the original holders to pump the value of something through misrepresentation and lying. This is done by promising returns in the future that the originator knows will not happen and then dumping on the next investor. That is not what is being done with NFT's.

That's literally what's being done with Ape NFTs.

• The pump: A group of scammers (or one scammer with sock puppets) plays hot potato with a bunch of Ape pictures they created, selling to each other, increasing the prices to make it look like they're in demand and you'd be a sucker not to buy.
• The dump: A mark buys an Ape picture, and the game of hot potato ends.

Alternative:

• The pump: "OMG my Ape NFTs were stolen, they're worth millions." "I just paid a ransom of $500,000 for my Apes, luckily I can afford it and they're worth ten times that."
• The dump: Some sucker believes you and buys an Ape

Pump and dump doesn't require direct interaction between the buyer and seller.

[Mysticp]

That's literally what's being done with Ape NFTs.

• The pump: A group of scammers (or one scammer with sock puppets) plays hot potato with a bunch of Ape pictures they created, selling to each other, increasing the prices to make it look like they're in demand and you'd be a sucker not to buy.
• The dump: A mark buys an Ape picture, and the game of hot potato ends.

Alternative:

• The pump: "OMG my Ape NFTs were stolen, they're worth millions." "I just paid a ransom of $500,000 for my Apes, luckily I can afford it and they're worth ten times that."
• The dump: Some sucker believes you and buys an Ape

Pump and dump doesn't require direct interaction between the buyer and seller.

A pump and dump doesn't require direct interaction, this is true. It does require false/misleading information to be given to the buyer in order to facilitate the pump. That is the key to the pump and dump.

An actual example of a pump and dump would be if a scammer created a company and inflated their numbers and worked behind the scenes to make their company look better than it was and then dumped out of the company and took off with the profits.

Your example would be quite difficult to do with NFT's because I can see who created them and where they have been transferred to on chain. Now a person could go through the effort of creating sockpuppet accounts but so what? I as the buyer have to decide if the NFT is worth the asking price. If I decide that it is I then have to decide If I want to sell it or not. There is always an understanding that you can loose money on the sale of a good. I purchased and Ape NFT an received an Ape NFT. It is interesting that people think that risk is a scam. It is not. It is a built in part of any market and it's up to a buyer to asses the risk of purchase if their goal is to flip it for profit at a later date.

As to your alternative scenario:
This is up to the buyer to do their due diligence. Did they check the purchase history? Did they asses the value for themselves? Personal responsibility is a thing in any market. There will always be people trying to scam you in any market and you must always do your due diligence to avoid it.

[ItMe]

Apologies, but I'm gonna share this in the other two NFT threads too cuz I think this is a brilliant idea and wanna signal boost it.


Someone in my FC just had a brilliant idea.

Since it's unclear how much the devs (let alone their President) look to the forums for feedback, We should tweet at SQEX directly telling them what we think of NFTs.
I made a twitter account for some FF14 contest a few years back, I'll just use that one.

There have been a lot of people voicing their distain for that New Years letter, and while it's cathartic to voice our concerns and vent here on the forums, it's probably more productive to send those concerns to SQEX directly.

SQEX twitter
https://twitter.com/SquareEnix

And it looks like the President doesn't have their own Twitter account, but people are tagging them as both
#YosukeMatsuda
#Yosuke_Matsuda

[FrogDog]

Yoshi-P please don't let SE force you to put NFT in FF. My faith is in you.

He'll cry on stream, saying why it must be done, and you'd probably accept it.

[SamsaraTrickstar]

He'll cry on stream, saying why it must be done, and you'd probably accept it.

Sadly to much of the players buy in to such cheap manipulations.

[AziraSyuren]

Guys.

NFTs are something a game has to be designed around from the bottom up.

FFXIV isn't going to incorporate them.

[Puksi]

Guys.

NFTs are something a game has to be designed around from the bottom up.

FFXIV isn't going to incorporate them.

Square-Enix profits from XIV whether NFTs are built into the game directly or not. It's not a case of being able to have your cake and eat it too.

He'll cry on stream

I'm glad I'm not the only one who has noticed this phenomena, lol.

[ArcaviusGreyashe]

Square-Enix profits from XIV whether NFTs are built into the game directly or not. It's not a case of being able to have your cake and eat it too.

Are you asking one of the biggest video game producers ever that produces pretty much a new game daily to not build games around concepts, simply to please a part of the community of one of their games ? I'm... impressed.