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  1. #11
    Player
    Kolsykol's Avatar
    Join Date
    Jul 2015
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    3,024
    Character
    Aelona Chillwind
    World
    Lich
    Main Class
    Ninja Lv 100
    Quote Originally Posted by Missbone View Post
    Can someone explain what NFTs are and why everyone hates them? If its just another form of ingame shop like in mobile games, i think i woudnt bother me.
    To really simplify here, it's like a code that gives you ownership of something that can be verified and prove that you're the owner ( again, oversimplifying ).
    It has just become popular to hate them and to some extent it's justified because of how they've been handled thus far.
    Mainly they've been used for scams and also selling stolen artwork or really lazy crap for hundreds of thousands.
    When people think of NFT's now they think of morons who buy for an extreme amount of money a stolen art piece someone else took without the original artists consent or some really bad and even copy pasted with very very slight alteration pixel art.
    Or even Tweets...
    And yes anyone can just copy paste it, what you're buying is essentially an imaginary rights to something in those cases.

    However I do think that sadly as per usual on the internet, there is absolutely zero nuance and people hyperfocus on the negative ways of application and the positives go under the radar.
    They could be really nice when it comes to ownership licenses and identification digitally and reduce paperwork.
    In the gaming sphere specifically I think an interesting use of them could be that you'd be able to buy a NFT that gave you ownership and then you could use this NFT to install and play the game from any store.
    So if both Steam and Epic Games where part of this network then if you bought a game on Epic Games you'd buy or could choose to buy a NFT of it that you could also use on Steam.

    It could also be used for more irl stuff like medical records and ownership of real physical stuff like cars to be able to conveniently and quickly confirm your ownership or identity.
    It's just that it has thus far been used for dumb crap like some rich person ( or for the purpose of money laundring... ) '' buying '' a Tweet, like I dunno if this actually happen but someone buying imaginary rights to the first Tweet the founder of Twitter made for millions.
    So it gives NFT's a really bad name and makes them seem like scams.

    Edit: In the case of FFXIV one way it could work is that you'd buy a NFT for an item on the store and you'd be able to use it to re-add it to your account if you lost it without having to purchase it again ( and without the calmity salvager, I've never tried deleting it so I dunno if you even can tbh, just an example ).
    But what people think and what probably would be true is that they'd start selling exclusives for ridiculous prices or like imaginary rights to artwork that everyone can already just copy paste.
    NFT's in FFXIV could be a good and practical thing, but if you want to make money it's more profitable to do the scummy stuff which is probably what would happen.

    Quote Originally Posted by Katalyn View Post
    NFT stands for Non-Fungible Token, and basically, NFTs use blockchain, the technology that makes cryptocurrency possible, to verify a digital asset. That way someone has the real/legitimate XYZ. So say someone created a hugely popular meme, they could try to make an NFT and sell it to make money. The buyer presumably wants to own a piece of internet history, or maybe they think since they now own it they can make money on merchandising it or whatnot since they are now the owner of it.

    In terms of gaming, I think the concern is the pay-to-win scenario. I see the most natural fit with the mobile/freemium games. The card/character collecting games could probably easily add in a tier of NFT based cards/characters which they would sell for a very high amount of money. As for XIV, I'm guessing the most logical/least offensive application would be to make unique glamour that only one person or perhaps a handful could own. Which brings us to another point of NFTs there is usually only one of or a very few of any given NFT. No point in making something an NFT if their are unlimited copies of it available.
    This is a good explanation of it too.
    And yeah it'd probably be used for some really dumb crap.
    It's unfortunate tho because there definitely is some legit potential if handled responsibly but that just isn't as profitable as quickly cashing in on a new trend...
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    Last edited by Kolsykol; 05-28-2022 at 11:13 PM.