Gamers Still Hate NFTs
These are not the droids you’re looking for. And by you, we mean NFT sellers. And by droids, we mean the hard earned dollars of gamers. Ever since the intangible pieces of property came on the scene, many gamers have been skeptical or downright disdainful of NFTs. After all, why would we spend money on something we cannot touch and probably will never be able to resell when we have hundreds of dollars of games sitting untouched and pristine, waiting to be played in our Steam catalogs? While some get rich quick minded individuals have embraced the hype, most gamers still hate NFTs.
After a frenzied, frothing dash to buy NFTs at the beginning of the year, the bubble has burst and sales are down. If you’re wondering what NFTs are, stay pure gamer. We’re not going to break it down and sully these hallow’d Cracked halls by saying “fungible” a bunch of times. Suffice to say: some cryptobros tried to part us gamers from our money. And we, largely, said nay. We already know your mind tricks, we’re Toydarians and they don’t work on us sweetie pie.
Even last month’s Game Developers Conference took the temperature of industry sentiment and found it less than tepid. Aside from the catastrophic impact they’re having on the environment, lots of devs and players alike aren’t sold on the idea. We’ve been buying intangible, worthless artifacts for years. Cosmetic skins anyone? People seem to react positively when the internet is used to bring people together, instead of selling to individuals greedy for ugly art and quick profit.
Even some of the most successful NFT games have had some major setbacks lately, with the game Axie Infinity being the most notable. The game’s quick expansion to accommodate (grab cash from) new players led to a major security breach. We’re talking hundreds of millions of dollars major. Stories like this are coming from many sectors of the NFT market, obviously not an encouraging sign for potential buyers.
NFT sales are cratering, taking cryptobros dollars with them. Will these glorified pogs be gone for good soon? Will crypto bros learn any lessons about jumping on investment bandwagons? Sorry crypto bros. You know what they say, “the greatest teacher, failure is.”