So why use crypto, when games already use fonts, and numeric digits, commas, and dollar signs, and string formatting functions, and binary to decimal conversion routines, and text rendering libraries, all existing technologies for visualizing value?
Let's say you have an MMO and players are selling gold for $5 per 10k. The people selling the gold are essentially creating an exchange of a virtual currency for fiat currency.
Crypto cuts that middleman out and allows everyone to exchange to and from the gold with other coins.
The visualization is instead of seeing 3rd party gold sellers giving an estimate of how much your gold is worth, your coin is the direct value.
Did that clear things up?
You either buy the whole account or you buy it and then they send you the gold/item ingame.
There's a lot of communities, forums, and even businesses that revolve around it. It's a huge market.
Many games it's not technically banned, just not supported due to payment processors not allowing it.
Some games it may be against the rules, but it's hard to enforce.
There's hundreds of sites like that, some for niche games, some more general.
So why use crypto instead?
https://www.forbes.com/sites/paultassi/2022/02/26/valves-gab...
>Valve's Gabe Newell Takes A Flamethrower To The Metaverse And NFTs
[...]
>"The things that were being done were super sketchy. And there was some illegal shit that was going on behind the scenes, and you're just like, yeah, this is bad. Blockchains as a technology are a great technology, that the ways in which has been utilized are currently are all pretty sketchy. And you sort of want to stay away from that…. The people who are currently active in that space are not usually good actors."
>"There's a bunch of get rich quick schemes around metaverse. Most of the people who are talking about metaverse have absolutely no idea what they're talking about. And they've apparently never played an MMO. They're like, 'Oh, you'll have this customizable avatar.' And it's like, well... go into La Noscea in Final Fantasy 14 and tell me that this isn't a solved problem from a decade ago, not some fabulous thing that you're, you know, inventing."
>Here, Newell is saying plainly what many in the gaming community have been thinking when it comes to the “metaverse” presented as a bunch of blockchain-based Second Life knockoffs that are selling virtual real-estate to stupid business brands for millions. Meanwhile, actual metaverses, immersive video games, have been around for decades and already do all the things and much, much more than these newcomers.
>Very few people in this space will speak this frankly about the current gold rush situation when it comes to the blockchain, NFTs and the metaverse, but it’s great to hear from industry icon Gabe here to set the record straight.
[...]
Edit:
https://en.wikipedia.org/wiki/Linden_Dollar
Gabe's point stands that the web3 kids have no fucking clue about what came before and has already been around for decades, or what any actual game developer or player would want to do with a game.
It is not economically practical or even technically possible to deliver on most of the empty starry-eyed promises being slung around by NFT shills. They're primarily scammers pushing get-rich-quick pyramid schemes and pump-and-dump rug-pulls, not experienced game developers or designers or economists.
pewpew hit the nail on the head:
https://news.ycombinator.com/item?id=30975029
>Crypto is a solution looking for a problem to solve. It is like a parasite, which will latch onto any existing tech and enable scams on the same.
But the balances and asset ownership is stored in a blockchain so you can exchange it with other crypto currencies.
That means you could farm gold ingame, exchange with bitcoin, then go to a bitcoin atm and get cash or vice-versa.
PayPal and Stripe do not allow virtual currencies due to them being high risk of chargebacks / credit card fraud.
Crypto is sometimes the only way to accept payment for virtual currencies / ingame items.
It's nice for the developers as chargebacks are very common in the industry and expensive.
Generally you get a bonus % when you pay in crypto because of this.
You could even do away with the redundant virtual currency and embed a crypto currency directly into your game, linking your games natural economy that forms to your coin value.
A game like an MMO usually get's a natural economy driven by supply and demand. Depending on how long it takes to farm gold, how rare the item is, etc.
Using a crypto coin in your game would visualize that value and allow your players to earn it in game and exchange it for its value in Bitcoin for example.
Items would be NFTs, the rarity and attributes of the item is already there, just make a token for it. When players trade items the NFT is transferred from one character (wallet) to another. The value of the item/NFT is what people assign to it.
Items and virtual currencies are just NFTs and tokens that aren't on the blockchain. By moving them to a blockchain you allow them to be exchanged.