Justin Kan, experienced gamer and co-founder of Twitch, calls NFT a digital product born for players. This is your opinion
The gaming community is inherently stubborn before major changes. In a time when video games are still in their infancy, game developers and communities rely on each other to build a thriving industry with little capital and a treasure trove of passion. But when two business words robbed the souls of many well-known game developers, community skepticism built up over the years.
Gradually, they see themselves as nothing more than a commodity; Heartless developers are constantly looking for ways to “milk” players, and at the same time no longer produce quality products. However, in these turbulent times, technology does not stop developing.
Justin Kan, veteran gamer and co-founder of the world’s largest streaming platform Twitch, has a few words to say to the gaming community. On his personal Twitter page, Mr Kan emphasized that the inevitable trend of the gaming industry is growing beyond imagination: the trend of implementing NFT digital assets as a potential and profitable virtual business model, benefiting players.
Here is Justine Kan’s argument, about how NFT is transforming a rising billion dollar industry, and asserts that NFT’s digital asset was born for gamers.
As we all know, the process of making games is very expensive both in terms of energy and money. One of the ways studios make money is through crowdfunding, but most of those fundraising projects fail, only a few make it past the crowdfunding quagmire and can become great industrial products (eg: Hollow Knight).
But once unsuccessful, the project can be put on hold for years in development. It can be seen in the Star Citizen game, with the fundraising stage which has entered its 10th year, the amount of money collected has reached 400,000,000 USD, but this game is still not complete.
In addition, NFT allows those who spend money to support the game (through the purchase of NFT – an in-game digital asset) to become shareholders who place their trust in the project. When the game is launched, they will hold certain rights while participating in the virtual world of the game.
Games built on Web3 will have an open and decentralized market economy. According to Mr. Right, creating games based on open and programmable digital assets (such as tokens and NFTs) will help increase the value of games in general and digital assets in particular. In-game items are no longer pure digital files.
Pak Kan immediately gave an example with the game Fortnite, which is popular among young people around the world. According to him, other developers can create new experiences for players through the V-Buck virtual currency and character skins. As we all know, many game developers, Hollywood blockbuster film studios receive top entertainment content in Fortnite, with a desire to reach a huge potential audience.
As a veteran gamer himself, Mr Kan realized the potential of owning virtual items in games. The fact that players can prove ownership of the digital assets they buy or acquire from the game will help gamers participate directly in the development of future games.
In addition, each item helps the player retain the small amount of value gained after a period of investment in the game. The value will remain when they enter a new game.
“This is just a scheme to steal money from developers!”
According to Mr Kan, game studios have been turning to virtual item sales for a long time. However, most in-game virtual items cannot be bought and sold. That’s why NFT items, which allow players to prove ownership, give gamers more rights in their hands.
“These games are not real video games.”
Statements like these remind Justin Kan of 2008, when free-to-play games were born, allowing gamers to freely join games without any input fees. Back then, browser-based games like Mafia Wars and FarmVille became popular, but many people didn’t call them video games.
2008 was an early period for free-to-play games, and developers haven’t figured out the right way to create immersive experiences. Blockchain games are currently receiving similar criticism, but over time, games with high play value, diverse NFT digital assets, and high liquidity, will find their place.
“In-game NFT is not really decentralized as it is developed based on the inherently centralized digital asset/model of the game.”
Justin Kan believes that cryptocurrency is not only a new technology, but also shows the movement of the technology industry. The act of placing virtual items on the blockchain can prove ownership of the property, and at the same time creates peace of mind for potential players/investors willing to put money into the game. All the assets they buy are backed by a blockchain, a ledger that stores every transaction that takes place.
At the end of the article, Justin Kan emphasized that games with NFT elements would benefit both players and developers. He predicts that just as the free-to-play revolution has changed the face of the gaming industry, so has blockchain technology in game development.
NFT itself can be a valuable item that is part of a collection of virtual items. With a high value, virtual treasures can become collectibles worth millions of dollars, bringing fame and money to their owners.
Collecting is one of the oldest pastimes. The creation of a virtual capital asset, but with real value and proof of the identity of the asset owner, would be a leap forward in the concept of “owning”. Major artists are gradually realizing the benefits of NFT, and it’s time for the gaming industry to leverage this new digital asset technology to assert its ownership of virtual goods.
Law & readers
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
