In 2021, NFT becomes the most controversial topic in the world gaming industry. From hit makers like Ubisoft and Square Enix showing interest in the idea of including NFT in their titles to Steam banning the sale of games with blockchain elements on the store system, it’s clear that the industry The gaming industry is severely divided by the NFT. However, recently, a series of NFT profitability indicators are starting to plummet and public interest in the technology is gradually waning, causing people to question whether the time has come. starting to cool down?
For those who are not too interested in blockchain, NFTs are tokens registered on different blockchains and digital media. Each person who purchases an NFT product will receive both information and a certificate of ownership of these assets, allowing them to use them in their free trade transactions. Blockchain enthusiasts on the internet assert that NFT is the only way to own assets in the digital age, when most human transactions require clicks and saves. The growth of NFT has made many investors rich in recent years by buying and selling unique collections of artwork or images on Ethereum. During the period from 2020 to 2021, there have been many transactions of buying and selling NFT artworks with record high prices.
According to The Wall Street, NFT returns in the market are now following “a horizontal line: instead of reaching $225,000 as in September of last year, now the average trades are just over $19,000. At the time of writing (early May), the average is up $24,000 but still pretty modest compared to the previous 6-digit top. Active wallets in the NFT market also fell from $119,000 last November to $14,000 this past week. The popularity of NFT or public interest is also plummeting as Google Trends ranks the term NFT around mid-April while in January it peaked at 100.
Those who hold NFTs in their digital wallets must have felt the market shift better than anyone. Early last year, the NFT or first tweet by former Twitter executive Jack Dorsey was sold for about $2.9 million to Bride Oracle chief executive, Sina Estavi. However, when Estavi put this NFT up for auction in April of this year, the price did not exceed $14,000. Additionally, an NFT by rapper Snoop Dogg that recently sold for $32,000 is currently paying no more than $210. Cryptocurrency proponent, billionaire Elon Musk, also tweeted mocking NFT on Twitter.
NFTs are facing backlash in the gaming world as many believe that the monetized gaming scheme proposed by Ubisoft and other blockchain developers has no future. However, Square Enix seems to be patient with this plan, selling off some of its divisions to focus on blockchain and AI. It seems that game developers and publishers have not completely given up hope with NFT.
at Blogtuan.info – Source: gamek.vn – Read the original article here
