Why we will not be adopting crypto or NFTs anytime soon

RedEagle_P1

Administrator
Staff member
Proud Citizen of Dawn
#1
With all the hype around crypto and NFTs it was definitely a point of urgent research for our team. We wanted to know if this is the next big thing or is it just a passing fad.

Right now the primary use of virtual worlds is gaming and even getting just to the point where you can have a few hundred people playing your game is a huge accomplishment and very difficult to pull off and it’s the first step toward building a full-fledged virtual world. Most of these metaverse spaces have nothing to do with games and that’s a real problem because everybody leaves. If everybody leaves you can’t build the relationships necessary to build a metaverse. That’s why that’s why I believe that catering to the gamers is a good start.

We did market research by posting to more than 50 Reddits asking gamers what they think about NFTs.

We found that blockchain technology, when it comes to integration in the metaverse, seems to be something which is mainly driven by idealists and hype. Rather than focussing on people's needs, it's creators are pushing certain values.
There's nothing wrong with pushing values but the decentralized nature of the technology, and the fact that the blockchain was not created initially as to interface with the metaverse, has left the technology in a place where it doesn't really solve problems for this space. Here is an example from my article "Metaverse item interoperability, at scale, is very unlikely:"

One of the big drivers of the value of NFTs is the idea that in the future that will be a decentralized metaverse with interoperable items and avatars.

Item interoperability, at scale, very is unlikely:

I keep hearing from people who believe that in the future, NFT items will be taken between games and virtual worlds. I sometimes wonder if any of these people have actually designed a video game.

I'm in the process of making one now and the thing you discover very quickly is that everything in a video game is intentional.

For example; if you have a character in your world, all the items in your world fit the style, height and width of that character.

Let’s say you introduced a car from one game into another. That car could:

(1) Not fit the style of the game
(2) Break the game balance, giving the player an advantage
(3) Not fit how light reflects in the game
(4) Have a different control interface
(5) Be too wide for the road
(6) Have the steering wheel on the wrong side
(7) Create uncalculated physical results, resulting in a car that sends other cars to space

And the list goes on.
Not only that, the very premise of the blockchain is that decentralized architecture is the key to trust. That’s where we believe it went wrong.

- Decentralization is terrible for usability

- & it has never helped with privacy

- & is terrible at flexibility/iteration and therefore solving people’s problems.

We believe that decentralizing the organizations that create trust is the better place to create innovation then decentralizing the technical architecture.

We believe the metaverse will arise out of a gaming world and therefore it's really important to listen to what gamers want. Gamers have spoken almost unanimously on the subject of NFTs and very few people are listening… they don’t want them. Games are primarily an escape from physical life and most gamers dislike real money trade in games. I am not one of those gamers but I've had to find out the hard way that I am the exception and not the rule.
 
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RedEagle_P1

Administrator
Staff member
Proud Citizen of Dawn
#2
Web3 is all about taking back control from the big players like Facebook, Google and Amazon through a decentralized database (DLT), in which everyone has a copy of what everyone is doing.

When it comes to the blockchain every node has a list of all the transactions that have taken place. This make sure the content of the database is verifiably correct. However, being a public database that everyone has a copy of, it’s terrible for privacy.

This is like protesting but somebody has your naked photo by walking around naked all the time.

Just imagine when all of life's most intimate moments are recorded on ledgers… that’s what the blockchain metaverse people are proposing.
 
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