I don’t think your opinion is wrong, just misinformed/uninformed. I share your opinion mire generally about blockchain tech, as it’s clearly been used for scams and bullshit.
We’re not talking about Bored Ape fake trading card nonsense. We’re talking about Game Publishers and re-sellers who want to verify provenance of a file. The publisher (creator) wants to get a cut of a forward sale of the game. That’s the speculated way that this would work. Whether it’s tied to Gamestop is irrelevant. NFT technology will serve this purpose for all forms of digital media.
Gamestop is just the only service currently offering this benefit when minting your NFT (or was… Maybe it changed)
The publisher mints the NFT. As the creator of the NFT, their wallet will automatically be given a percentage of future sales through smart contracts.
When it goes mainstream, it won’t feel shoehorned at all. You probably won’t even know you’re using the technology unless they decide to emphasize it in marketing materials.
Right now, how would you re-sell a digital game and verify it’s an authentic originally purchased copy? Blockchain tech allows for this. That’s the incentive for end users. They can know where the file originated and trust the seller. You’re not buying a stupid trading card, you’re buying digital media with a certificate of authenticity attached.
Edit to add: I’m pro-piracy and generally anti-blockchain (especially as currently used, where we all pretend it’s stonks).
I am not really all about NFTs but they are not going away… They are the perfect tool for digital capitalism. They create a kind of artificial scarcity
In the case of the Gamestop policy, at least creators get paid for their work as long as its remains popular/desirable
Honestly, I don’t think it does, but it makes re-sale of digital media possible. Right now you can’t return a crappy game to the shop where you bought it. If you want a refund through Steam or something, there’s a limited time. If.
you accidentally buy the wrong version of a game, it’s a lot of hassle. If you get tired of the game, or just don’t really like it, it’s basically stuck in your library forever
Attaching the files to NFTs will make these things possible and even easy.
You probably won’t even know you’re interacting with NFT technology
The company’s wallet, not its NFT market. The recent ruling with Ripple and SEC made it appear that running both an exchange AND a wallet would be considered a violation of securities law.
Gamestop wallet users can move their digital items to any compatible wallet
Oh my bad. It did load after connecting to a UK VPN, seems like they block my region from accessing it.
The part about shilling garbage still stands however.
Only if you can put the license itself on the blockchain, and guarantee the blockchain is robust enough to last beyond Gamestop’s bankruptcy. Or survive past the day Gamestop decides they can make more money by destroying the current blockchain and “upgrading” the system.
I don’t think anyone can say that Gamestop will definitely be around longer than people want to use these licenses they sell. And I hope the license isn’t just a pointer to some Gamestop website that stores the licenses (re: standard NFT). But I don’t trust any corporation to do something like this without building in some sort of backdoor to revoke licenses. Especially Gamestop.
It doesn’t matter if the blockchain is eternal, if this is a traditional NFT, it isn’t stored in the blockchain. All you’re buying is a link to a website where the NFT is stored. It doesn’t matter if it’s a license key, or a shitty computer generated picture of an anthropomorphic ape. When Gamestop decides to shut down the server (it will happen eventually), you lose access to your license key. If Gamestop allows you to copy your license key, you still lose access to your software when Gamestop shuts down the licensing server. I’m not sure the technology works the way you think it works.
Uhm… Sorry but you have a fundamental misunderstanding of how this tech works.
NFTs are stored in a “wallet”, the address is recorded on the blockchain. As long as you know your seed phrase (or other recovery key) it will be yours eternally. The NFT market is only a place to put buyers and sellers in the same spot. Even “in the market”, the NFT lives at a blockchain address, someone else’s wallet.
That’s why Gamestop can say “we’re shutting down our wallet service. Get your recovery key and restore your NFTs elsewhere”
Gamestop doesn’t run a licensing server and probably won’t. That’s for publishers. Also, NFTs make licensing servers redundant.
The Gamestop NFT marketplace will hopefully allow creators like you to release games and collect a royalty for each re-sale
Sounds kinda sus man
What’s sus about creators receiving royalties for their own work?
The sus part is the royalties being tied to unregulated, highly risky “assets”
I don’t think your opinion is wrong, just misinformed/uninformed. I share your opinion mire generally about blockchain tech, as it’s clearly been used for scams and bullshit.
We’re not talking about Bored Ape fake trading card nonsense. We’re talking about Game Publishers and re-sellers who want to verify provenance of a file. The publisher (creator) wants to get a cut of a forward sale of the game. That’s the speculated way that this would work. Whether it’s tied to Gamestop is irrelevant. NFT technology will serve this purpose for all forms of digital media.
Gamestop is just the only service currently offering this benefit when minting your NFT (or was… Maybe it changed)
Ok, I’ll hear you out but explain to me how the developers and teams get money from it
Why not just give them financial incentives? Why shoehorn a cryptocurrency derivative into financial incentives?
The publisher mints the NFT. As the creator of the NFT, their wallet will automatically be given a percentage of future sales through smart contracts.
When it goes mainstream, it won’t feel shoehorned at all. You probably won’t even know you’re using the technology unless they decide to emphasize it in marketing materials.
Right now, how would you re-sell a digital game and verify it’s an authentic originally purchased copy? Blockchain tech allows for this. That’s the incentive for end users. They can know where the file originated and trust the seller. You’re not buying a stupid trading card, you’re buying digital media with a certificate of authenticity attached.
Edit to add: I’m pro-piracy and generally anti-blockchain (especially as currently used, where we all pretend it’s stonks).
Fuck no. Nobody wants NFTs.
I am not really all about NFTs but they are not going away… They are the perfect tool for digital capitalism. They create a kind of artificial scarcity
In the case of the Gamestop policy, at least creators get paid for their work as long as its remains popular/desirable
How does it been an NFT stop piracy?
Honestly, I don’t think it does, but it makes re-sale of digital media possible. Right now you can’t return a crappy game to the shop where you bought it. If you want a refund through Steam or something, there’s a limited time. If. you accidentally buy the wrong version of a game, it’s a lot of hassle. If you get tired of the game, or just don’t really like it, it’s basically stuck in your library forever
Attaching the files to NFTs will make these things possible and even easy.
You probably won’t even know you’re interacting with NFT technology
hasn’t that been coming any day now for like two years or something?
just drop the bags and move on with your life man
The Gamestop marketplace has been operational for a while. Not sure what you’re on about…
L Bozo https://arstechnica.com/gaming/2023/08/gamestop-citing-regulatory-uncertainty-winds-down-its-crypto-and-nft-wallet/
The company’s wallet, not its NFT market. The recent ruling with Ripple and SEC made it appear that running both an exchange AND a wallet would be considered a violation of securities law.
Gamestop wallet users can move their digital items to any compatible wallet
The future
Will be a dark place, mostly
Their NFT website doesn’t even work anymore andyou still out here shilling garbageThat’s just not true.
https://nft.gamestop.com/
Oh my bad. It did load after connecting to a UK VPN, seems like they block my region from accessing it.
The part about shilling garbage still stands however.
Only if you can put the license itself on the blockchain, and guarantee the blockchain is robust enough to last beyond Gamestop’s bankruptcy. Or survive past the day Gamestop decides they can make more money by destroying the current blockchain and “upgrading” the system.
The blockchain has nothing to do with Gamestop’s solvency as a company (which is not in doubt, BTW). It’s Ethereum blockchain.
The last sentence of your comment sounds like you don’t actually understand blockchain technology at all…
I don’t think anyone can say that Gamestop will definitely be around longer than people want to use these licenses they sell. And I hope the license isn’t just a pointer to some Gamestop website that stores the licenses (re: standard NFT). But I don’t trust any corporation to do something like this without building in some sort of backdoor to revoke licenses. Especially Gamestop.
Your comment makes me think you don’t get how the technology works. Ethereum blockchain will continue to exist whether Gamestop does or not…
It doesn’t matter if the blockchain is eternal, if this is a traditional NFT, it isn’t stored in the blockchain. All you’re buying is a link to a website where the NFT is stored. It doesn’t matter if it’s a license key, or a shitty computer generated picture of an anthropomorphic ape. When Gamestop decides to shut down the server (it will happen eventually), you lose access to your license key. If Gamestop allows you to copy your license key, you still lose access to your software when Gamestop shuts down the licensing server. I’m not sure the technology works the way you think it works.
Uhm… Sorry but you have a fundamental misunderstanding of how this tech works.
NFTs are stored in a “wallet”, the address is recorded on the blockchain. As long as you know your seed phrase (or other recovery key) it will be yours eternally. The NFT market is only a place to put buyers and sellers in the same spot. Even “in the market”, the NFT lives at a blockchain address, someone else’s wallet.
That’s why Gamestop can say “we’re shutting down our wallet service. Get your recovery key and restore your NFTs elsewhere”
Gamestop doesn’t run a licensing server and probably won’t. That’s for publishers. Also, NFTs make licensing servers redundant.