NFT's are Fundamentally a MLM-Type Scam Designed to Get You to Buy Crypto

Not at all, they can whine as much as they like, their opinion, just don’t errect roadblocks to things we want, you’re very welcome to sit on the side with a megaphone.

See, there they go, trying to silence people by calling their freedom of speech “road blocks”.

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There’s a difference between speech and meddling.

Yes, and I also remember when people were going crazy over Beany Babies and comic books in the 90’s. But they didn’t explode in popularity because all those people were genuinely interested in collecting those things. They were speculating on them because the were hoping to get rich on them.

I mean, this has literally happened before. The only difference was the items being speculated on.

Of course, people are definitely making money on NFT’s. And I’m sure that people will continue to make money off of them for at least a little while longer. But people are already losing money on them, and there’s going to be a crap ton of people who get royally screwed when the speculative bubble bursts.

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Many pre-purchases of games on Steam give items, quite a lot of those went up in price more than the original pre-launch game price.

This is nothing new. Only difference is the underlaying technology and scope, where Valve’s outrage comes from is it breaks open their holy temple walled garden market, like Apple’s walled garden.

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Yeah, that’s one way of framing it. Another is way is that people are warning others in an attempt to prevent them from being scammed.

Personally, I think the latter is closer to reality.

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We have had trading of items (NFT’s) on Steam for YEARS, literally YEARS!.

Pre-launch game purchases with free items, Team Fortress 2 was a big driver for these items.

None of this is new, except it opens up their revenue cut from their holy walled temple market.

It is a GOOD thing to allow self-custody of your own items rather than having to view and store them on THEIR accounts.

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Eve has had NFT’s on Steam trading since 19 July 2013

You’re all a bit late with your outrage.

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There not NFTs according to an article I read , they are just collectables not actually on any block chain or attached to any crypto currency

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It is the same concept, just not on a blockchain and merkle tree. The only difference is the technology used for it and the scope (global) rather than custom vendor and walled garden of Valve’s Steam.

They are NFT’s in intent and tradeable.

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With Steam’s market you get Steam Wallet CREDITS. Even worse, it’s store credit.

It’s vendor lockin, it’s under custody (held in your account name), marketable for store credits which is pretty much worthless if they go under, and you can kiss bye bye to your items due to vendor lockin and custody.

You are FAR BETTER OFF with the option of blockchain, self-custody, and marketable for something other than store credit.

It is something you can safely ignore, if you don’t like NFT’s then don’t buy them. I personally don’t think they will be valued and the ones which are of current value and trading tend to be those who are tickets to digital or virtual clubs.

If you don’t like cyrto then don’t buy it.

If you don’t like FIAT currency then don’t buy it, go live in the woods and lick moss.

It’s not just about trading, it’s also about self-custody vs custodians. Not your items, unless you control the key to them.

So along with the entry on the blockchain, you also have a copy of the asset itself, or is that hosted elsewhere?

It would be stored on the chain, and yes, it will be huge.

Some will just be contract references if they’re too massive or designed to be held off chain, small items could be stored on chain. It depends on the implementation.

Be better to just allow players to trade for money, create the medium to facilitate it (they have the game and website), and just take like a 10% cut when transactions go through. Ditch the NFT and blockchains. As far as digital currencies are concerned they could even make it where one can use bitcoin to trade alongside your cards.

Yeah, but no one is telling people that they will get rich by spending their savings or their kid’s college fund on buying steam trading cards.

The video creator lays out a really strong case that NFT’s are really just a MLM-type scam designed to get people to buy crypto. So, using steam trading cards as a defense is like pointing out that other multivitamins and makeups exists in order to defend an MLM scam that has people buying multivitamins and makeup.

#WeAreGoingToMakeIt
#HaveFunStayingPoor

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You do know that EA, Ubisoft, and Hilmar all think that NFT’s are the future of gaming. Moreover, the developers of Stalker reversed course after player backlash, and Ubisofts NFT reveal trailer got downvoted so hard, that they delisted it. So, if you don’t like NFT’s, and you don’t want them injected into your games, maybe you shouldn’t ignore it. Maybe you should push back.

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Things can be stored in the blockchain, however, size limitations make it easier/cheaper to store stuff elsewhere. Thus, most NFT assets are just as vulnerable to linkrot as anything else.

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