Square Enix and Crypto

[Remish]

Crypo is a serious top topic, but the reality of the situation is a lot of the people threatening to leave the game over it is just buzz news. We've been over this same song and dance every time people threaten to quit this game over anything SE has chosen to do with the game. Many will leave. For a patch or two. Until they realize that there aren't many better MMO options out there and that all their friends are still playing FFXIV. Let's face it, SE is being scummy about this and they know they're able to get away with it regardless of the backlash.

[Enla]

Can you really expect a company to leave profits on the table? To me this just seems like a new form of micro transactions we lost that battle and now blockchain/nft are the new battlefield. I for one am interested in seeing what they do, as everyone knows when it comes to investing you only put in what you are comfortable with losing, I am not sure why people call it a scam common sense is all you need to protect yourself. I for one am interested in seeing what they do with it.

Google "The Great Beanie Baby Bubble" for insight on why many people are accurately calling this a scam. NFTs are literally just a repeat of that whole nonsense - except this time you only own a link to an image. At least with Beanie Babies you owned a physical object. Likewise it's pretty clearly just a new generation of money laundering for the rich, to say nothing of it's environmental impact. The second serious regulation is put in place (like the IRS ruling at any Crypto transaction over 10k needs to be reported) the bubble is going to burst and it's not people like SE's CEO who are going to be left holding the bag but the rest of us.

[dapperfaffer]

Can you really expect a company to leave profits on the table? To me this just seems like a new form of micro transactions we lost that battle and now blockchain/nft are the new battlefield. I for one am interested in seeing what they do, as everyone knows when it comes to investing you only put in what you are comfortable with losing, I am not sure why people call it a scam common sense is all you need to protect yourself. I for one am interested in seeing what they do with it.

Because its not a new micro transaction. You wouldn't actually purchase anything with NFTs that would be owned by a company like SE, you would be purchasing a license that would grant you access to whatever the NFT is tied to for that value, which would determine the price of the thing you actually want to buy.
An example would be buying something from the mog shop for 15$. That is a hard value item allotment that can only change at the discretion of the mog shop.
What an NFT would do is determine the price of the item based on the value of the NFT. If the NFT isn't worth anything that 15$ item could range from 15$ up to lets say 30$, because the value of the NFT is low. So in order for the price of the NFT to increase you have to invest more by buying more NFTs in order for the price to come down, but that devalues that cost of the NFT so the mog station would then buy back the value of the NFT at a lower cost to increase scarcity and drive the value of the NFT back up, which is what you would do by having to spend the NFT that you bought at a higher price. So you end up paying more to support the NFTs value, while the value of the NFT is controlled by SE, who buy it back for less than what you spent/invested.
So when it comes to video games you have to remember you don't own any of the digital product sitting on your hard drive, and even if you buy hard copies all you did was spend money on whatever packaging it came in. The digital rights management of video games, in this instance FFXIV, is an applied access license that you have to purchase a license to use.

There are already games in the "Metaverse" that use NFTs and a majority of them have a negative return of higher than the initial value invested, and for some its up to 250%. NFTs are just another way for companies to artificially gate the "content" they produce with another paywall and license structure so that you have to give them more money.

[Risvertasashi]

Google "The Great Beanie Baby Bubble" for insight on why many people are accurately calling this a scam. NFTs are literally just a repeat of that whole nonsense - except this time you only own a link to an image. At least with Beanie Babies you owned a physical object. Likewise it's pretty clearly just a new generation of money laundering for the rich, to say nothing of it's environmental impact. The second serious regulation is put in place (like the IRS ruling at any Crypto transaction over 10k needs to be reported) the bubble is going to burst and it's not people like SE's CEO who are going to be left holding the bag but the rest of us.

My favorite analogy is the "name a star" registries that are meaningless.

But it gets better. Some of the NFT games have already removed the blockchain element. Making them even more alike to those registries. They really are worthless crap exploiting FOMO with artificial scarcity.

[Ranaku]

Creepy $1,000 Doll: I sleep

NFT: Real Shit

Not saying NFTs are good either, but THIS is where we are drawing the line?

Square has been cash grabbing for years.

I mean it's still something physical people will have and can enjoy for the rest of their life, they buy it once and then own it. The intention behind dolls and figures and whatever is to collect it. It has personal subjective value.

NFT is sold with the promise of making big money out of it, you don't buy into it cause you like stupid ape pics or something. There is no personal objective value behind owning a NFT. You don't look at it and say, yes this ape i am proud of owning. Same as you don't look at stockmarket shares and think to yourself that this has great artistic value. No you want to have that shit to sell it later for more than you got it for. But fact is the only safe money someone makes out of NFTs is the creator, everyone after this just plays the game of "The last one who holds the ape loses all his money!".

So idk where you graduated but you might want to exercise you brain again cause if it lets you compare physical art to a gambling system then you might wanna check up with your neurons again. Cause next they might let you drink bleach or let you buy into MLMs. And that might be something we both don't really want.

[Shin96]

"Play to contribute". There you go. Take an adored and beloved hobby and turn it into whatever your questionable ethics turn it into.

Being a gamer is so tiring right now. You have this corporate influence everywhere, it just is sickening and exhausting.

[Lemuria]

As someone actually in Cyber Security, and one who understands crypto more than the masses that demonize it. I'm all for NFTs.

I'm fairly certain you neither work in cyber security, nor understand enough about crypto if you are standing by NFTs. Here's a few facts for you to chew over.

1. Your 'investment' is backed by literally nothing. What's encrypted is a key or token (or weblink) that links you to your digital item. It has no intrinsic value beyond what someone else will pay for it.
2. Your 'investment' can be immediately destroyed upon purchase, either by the game company if the servers shut down or by malicious intent on the seller who changes what that token points to.
3. Since you don't actually own the item, neither do you have any rights to it. Whether that's an in-game hat, a piece of artwork, you literally do not own the copyright to it unless it was specifically included.
4. Since you don't have any rights to it, neither do you have any grounds to pursue legal action against the seller. They sold you the link. Nothing more.

For someone who apparently works in cyber security, these should all be giant red flags. If none of your alarm bells are ringing at this point, then you should probably find employment which is better suited to your strengths.

Creepy $1,000 Doll: I sleep

NFT: Real Shit

Not saying NFTs are good either, but THIS is where we are drawing the line?

Square has been cash grabbing for years.

You're comparing an actual figurine which will likely adorn someone's room and is a genuinely limited commodity that not everyone will own, to an NFT which links to digital art which can easily be copied and distributed freely? Yes, this is where we're drawing the line.

[Kolsykol]

NFT's are seriously the most braindead thing ever, the only thing it makes sense to me as is for laundering money.

With that said I don't like SE outside of FFXIV, I love FFXIV and the team behind it that's it.
I have zero loyalty to SE as a company and I think that most of the games they put out outside of FF is complete garbage and just the most stereotypical and boring AAA Western big title game and they're greedy as hell ( I rly hate the Tomb Raider reboot too, it's not Tomb Raider and she's not Lara Croft... ).

I don't believe this will affect FFXIV altho I've seen some stuff I think is bs like the Pizza emote and all that.
I think that's bs and wrong, it's also really forced and cringe especially with how on the nose the emote is if you know the context behind it.
But it's also locking content for players outside of that country/ region for the sake of greed.

Either way NFT's are going to blow over I think, most people think they're the most braindead thing ever they exist for stupid people with too much money and for rich people/ criminals to laundry money.
Most normal people look at them as a stupid meme.

[Katt_Felista]

"Play to contribute". There you go. Take an adored and beloved hobby and turn it into whatever your questionable ethics turn it into.

Being a gamer is so tiring right now. You have this corporate influence everywhere, it just is sickening and exhausting.

>Chip and server shortages
>Can't sell the game anymore sorry lol
>New free accounts / free trial suspended, sorry, can't have you non payers in the g8me, lol
>Somehow, just burn our shit to the ground, melt our servers please ! Play , Play , Play even moar and congest servers morning to night to earn nft and contribute, all will be so good, promise !

Absolute 2022 logic.

[Quintessa]

NFT's are seriously the most braindead thing ever, the only thing it makes sense to me as is for laundering money.

With that said I don't like SE outside of FFXIV, I love FFXIV and the team behind it that's it.
I have zero loyalty to SE as a company and I think that most of the games they put out outside of FF is complete garbage and just the most stereotypical and boring AAA Western big title game and they're greedy as hell ( I rly hate the Tomb Raider reboot too, it's not Tomb Raider and she's not Lara Croft... ).

TR is still done by the same team(Crystal Dynamics), though the last game was done by another branch along with them. I guess this is the reason CD went all out with Tomb Raider Underworld before being absorbed by SE. Big shifts in IP style always occur when a development team is absorbed by a major AAA company.

>Chip and server shortages
>Can't sell the game anymore sorry lol
>New free accounts / free trial suspended, sorry, can't have you non payers in the g8me, lol
>Somehow, just burn our shit to the ground, melt our servers please ! Play , Play , Play even moar and congest servers morning to night to earn nft and contribute, all will be so good, promise !

Absolute 2022 logic.

>Cannot home transfer because servers are fake congested and the thought that 700000000 people gonna transfer to new DC lolololololololololol