@CollinGerberding: Get a good surround sound system and you have a home cinema. Put in some comfy seating and make snacks and all your friends will look forward to cinema night. You can even advertise a screening of the Disney classic, Steamboat Willy (Now out of copyright) and make back the cost of the screen. Mine’s only 55’’ but I hide in my study and use it almost exclusively for gaming. Size isn’t everything, so my wife tells me. 😉
I swear they're trying to play the long game, like what Facebook/Meta was doing dropping millions on their metaverse or whatever. The idea is that if the concept *does* take off, there's a lot of money in it (because it's like, the perfect scam/racket. You get to sell stuff that doesn't exist physically and potentially make money off of every single time that metaphysical good changes virtual hands). Square is probably doing that, thinking "if we can just make this work... it'll all be worth it and more!" but based on the info in the video, doesn't seem like NFT or blockchain technology won't catch on in the near future or ever.
They were absolutely laughable. The clueless people supporting them were hilarious with their descriptions and why they are valuable. Another scam 😂 gone.
My biggest W was not falling for that stupid scam. How anyone got convinced into paying ridiculous amounts of money for literally nothing is beyond me. No amount of buzzwords and terminology no one seemed to really understand could convince me it wasn’t a scam.
What's amazing is that NFTs were such a shit product that gaming companies couldn't even make them worthwhile via whales, when whales constantly prove themselves to be financially useful idiots when it comes to other gaming products.
I mean... Not that much credit to anyone tbh, NFTs just offered LITERALLY nothing for gamers. Look at anything else, battlepass, early access, microtransactions etc. We took it all hook line and sinker because they gave a crum of something for us. NFTs failing are just a testament to how they have absolutely 0 use or appeal, since even GAMERS didnt fall for it.
Heartbreaking? 95% of NFT holders are rich people who knew exactly the value was transient at best but were simply caught with their pants down when the market collapsed. Those of us who aren't stupid knew it was a scam from the start. Screw the morons who deserved to lose their shit. The scam couldn't last forever
It was doing more harm than good. No one has been able to provide an actual use that benefits us gamers other than have a controller in one hand and a credit card in the other. Why? Because...You own what you earn. Play and spend. Look we all want to make money but at this point it's becoming a drug when greed sets in.
The fact that GameStop said they’re quitting NFTs because of Regulation’s shows that the only use for NFTs is scamming people and if there’s anything stopping you from scamming then there’s no use. NFTs are just a scam, if you have NFTs you either were scammed or you’re trying to scam others or both.
they used to be dumb frog pepe pictures in 2014 4channers drew up that were always worth near 0, everyone had some bc they were literally given to everyone for no reason, it was a joke and everyone knew it. it took 7 years or so for scammers that lied professionally like the fake new web scam (web3) to grow to where they used their audience and promoting to push this old worthless 4chan joke as new innovation to "help" artists. can thank all the crypto scammers like vitalik buterin and sbf for normalization of scammers
True. But more than that, it blows my mind the much larger amount of people who ignored this life-changing wealth-making opportunity. Now THAT is pretty crazy to me, to dismiss outright something that could have improved theirs and their family's lives. People spend dozens of hours a week at their crappy jobs to barely make a living, meanwhile some of us made 6 digits in a few months with a bit of research and paying attention. No-brainer which side I am happy to have been on.
@@SemabachosJust because you were slightly luckier and was at the right place and right time doesn't mean it would have happened to everyone else. The whole concept makes absolutely no sense. Anyone with a brain could see that, that's probably why NFTs are dying out.
Squeenix feels like the most out of touch company out of an overabundance of out of touch companies. It's like their pride is on the line at this point and refuse to back down.
And yet here's the thing, they can (and do) still release some good games from time to time Too bad their leadership could go suck on a metric ton of raw eggs
NFTs have always been the modern version of snake oil. Crazy how many people bought into the idea when NO ONE could explain why NFTs actually have value or what they are that makes them meaningful. I did so much research because I kept thinking I was missing out on something, but could never find anyone with an explanation that was clear and logical. It has always been “buy this thing, sell it for profit later, people will just want them because”. Blows my mind.
@@shap7296It was unlikely they were ever going to be a good thing for games in any way that couldnt already be done far more efficiently if there was any incentive for it. Game publishers dont want you to buy a microtransaction that you can own in some other game, the only conceivable use for NFTs beneficial to consumers, they want to sell it you twice.
The technology itself could have been useful for quite a few things. Having a record of custody on a blockchain is very helpful for verifying the authenticity of works of art, historical documents, etc. Proof of stake is also applicable to functions like verifying identity, ownership of property, and such with the ability to transfer said ownership at the same time. Looking up the nft representing something like a car could reveal its previous owners, and prevent you from buying stolen property or other reasons. Too bad all we got was a bunch of guys selling jpegs.
Its basic economics. In order for you to make money, there must be money in it. What does cryptocurrency do that makes money. CryptoBros buying Crypto. Hmmmmmm. Sounds like a one way system where the only solution is for loads of people to lose money.
@@_STNML my brother in christ, why do you take it personally? If you are successful, why feel the need to correct the naysayers? It's less competition, after all, no?
You're not paying attention early bull run has started we're making gains hand over fist right now Stay in the rat race I guess many of us are getting out of it right now due to crypto. 🎉
I think what is happening is the world realized NFTs are just fancy digital receipts, and that any kind of worthless thing like a JPEG file that is represented by these NFTs, is still a worthless thing when all is said and done.
If it was just a digital receipt nobody would care or actively hate them. Its the most inefficient, energy intensive form of receipt in human history. NFTs are the digital equivalent of hiring a 30-man workforce to calculate & write retail/grocery receipts by hand, then having these crews of professional receipt writers compete with each other for receipt-writing contracts. All of them driving to work everyday and collecting full paychecks, a massive & pointless bureaucracy of receipts.
You'd think they would have gotten a clue the moment people started copy/pasting the JPEG everywhere and they had no legal recourse to stop them. But they still dragged it out for several years.
@@OmegaZyion there is normalized dishonesty in "crypto' bc there is billions to be made of buzzwords, anything that was just an idea someone made for good reason or for lols is copied and hyped by scammers to morons like those that fell for nfts. people fakely sold land on other planets before, sold stars, and now they were selling hyperlinks promising artists fairness. hyperlinks are still cool, what scammers pretended they mean is cringe
i remember companies got even desperate saying that we don't like nfts because of our lack of understanding and we don't see the bigger picture, that made me so frustrated ngl, i still haven't swallowed the fact that a digital copy of a game costs the same as a physical one and they want me to believe this scam of nfts. anyway, those are very good news to start my morning, cheers.
I think with the digital game prices, they just want to match the retail variant to still get more money. Still baffles me because if you want more people to get games digitally, why not entice a lower price point than the physical? I'm not just talking sales either. Just the base price.
@@M00nlightOfficial btw physical sales are nothing compared to digital. You can find a copy of a 60$ game at 5$ or 10$ in a store but in psn or Xbox store it's barely 50% or 60% . buying a pc was the right option, at least there's steam that has better deals .
Investors are backing out as more and more live-service games are dying out, or generate no hype. They'll never truly disappear, but the "genre" is passed its prime
Dude, this is not even new. We have a history of selling snake oil to people who are too stupid to know as far as ancient times. And we haven't moved on from that much: the players may be different but the game is the same...
Its funny that people are saying "regulatory uncertainty" regarding their abandonment of NFT's when the gaming industry has been going full-bore into loot boxes despite the ever growing evidence that they are training children to be problem gamblers. Regulations has nothing to do with it, it was a bad investment from day one.
Isn't the point of NFT is to be no regulation regarding the transfer of art? If so then they can't complain when the government won't help them stabilize the falling NFT price now does it?
@@darklighter66 Honestly, NFTs are even worse than Tulipmania on multiple levels. For one thing, at least tulips have some amount of aesthetic value, unlike the tasteless procedurally-generated slop that's used for many NFTs. For another thing, the scarcity of NFTs is a completely artificial constraint (like it is for almost all digital items), whereas the most prized tulips were legitimately rarer and more difficult to create than others (because they had a unique discolouration caused by a virus that also made them more sickly and harder to grow).
It seems like companys are just following eachother. How did EVERY MAJOR COMPANY make such a horrible uneducated bet on "NFT's". Waste of resources, time, people, management, etc. What happened to companies actually being original and trying new things on their own instead of following everyone else.
Working in a multinational company really teaches you that companies waste a lot of money in managment errors or nonsense projects. The amount of systems/platforms implemented that do not work as intended or colpase upon evryone migrates to them i vmhave seen in like 5 years is wild, migrating GxP electronic documentation like 3/4 times in less than a decade is a waste of everyones times
NFT was the fad gold rush last pushed by business speculators, now they’re moving onto AI as a buzzword. Defining the actual benefit (for as many wide array of applications they are claiming it is a one-thing-solves-all thing) as usual, comes later. Outside of a carrot on a stick to try to get executives to think they can trade their workforce for.
I wish people would denounce AI as much as they did NFTs. Not only does it fuck over the artists who get their property stolen, it just sucks and should never be used as a substitute for human creativity
@@spoon7053 Yeah. AI may have a little bit of a different face, but it's being sold on the same inhumane monetary greed reasons that NFTs were being sold on.
At least AI isn't *totally* useless like NFTs were. However most of it just the same speculative handwaving or desperate CEOs looking for an excuse to cut workers. I even know a guy who said that the invention of Generative AI is comparable to the invention of electricity. Which is rich because I'm planning to become a machine learning engineer and I'm just like... no.
Glad to hear it. Games are expensive enough without them adding more to it. It should be between 50 to 60 but they charge 70 for half a game that is broken. Then they charge for subscription then pay to win bull shish. I won't buy any game with nfts nor will buy any game from any company that releases a half finished broken game. Even if they fix it eventually.
things like this feel like companies playing follow the leader in an ant death spiral. They only did it because they thought they were following the next big thing, all the way down
As someone who has worked for the company? I doubt they had much of a plan at all. They just saw money and wanted in on it. They make a lot of extremely dumb decisions and I swear it's like the executives don't want the company to be in business. Lots of "short term gains resulting in long term losses" types of decisions. It's really no wonder they're struggling in my area to actually keep their stores staffed to the point where they're able to even just be open their normally scheduled hours.
Companies will never allow you to resell a digital product without them. It simply will not happen. They want to buy your game back for 5$ so they can sell it for 20+. You as a consumer will never have that freedom. Anyone who says otherwise is lying
With augmented reality becoming more and more of a thing, you mark my words….this NFT bullshit is going to make a comeback when it can “exist” in the lens of these smart glasses etc., and I’m going to loathe every moment of it.
It was pretty pretty note worthy when it came out; mainly because users were uploading stolen and already copyrighted materials and Gamestop had zero oversight over it.
To think that, three years ago, NFTs were the future to which we had to adapt or die. One can only hope that, in the near future, AI-generated “art” will be looked back on in the same light.
You know, I stay subscribed, because I find Yong a pretty ethical journalist, even though I don't watch these videos a lot lately. But this one I watched :] Absolute music to my ears.
Oh no, what miracle of human genius could have ever possibly seen this coming!?!” …. All of us, literally, every person and a brain that doesn’t have that sort of income to throw around on digital stickers. Where did they think the market was? Literally only other wealthy twats.
the big issue with nft in games is they make money, people will just find the easiest way to cheese them and bots will be all over them to make money not actual people. to make nft usable and good you need to make sure the leagalese doesnt have any loopholes and good luck with that. plus companies wont do anything interesting with them anyways. square aint about to add the ability to make a fan game and sell it as an nft award. the best part is corporations trying to get on board. by design nft and blockchain is anticorporate until corporations make mining farms and fork the project when they own enough
I find it interesting how NFTS Became so popular In late 2021 and early 2022 and so many companies are just switching their production to AI stuff which is honestly better than crypto but the future seems a little dark as always with new exploitable technologies I love innovation # Sarcasm
These billion dollar companies throwing away millions of dollars into salaries of people playing tf out of them. Yall could’ve paid me 10K and work for a day for me to tell ya it was a brain dead idea just by concept….
The only people I heard talk passionately about NFT's were the manager type high intelligence-low wisdom kind of people that could only see the numbers encouraging their behaviour and how their bank account could benefit. I got the same kind of vibe from people who got ensared by MLM's.
@@GameDeveloperPrim-EvilDo you even hear yourself? The nft marketplace is dead, crypto is a shadow of what it was, metaverse is a joke and generate ai is just a basic prediction tool that needs input from thousands of people to function. People play for fun, if someone wants a grind of a job that pays almost nothing they'd work in telesales
The only time and manner when I could somewhat accept NFTs, while it also alarmed me at first, is when Muse released an album with the option for an NFT-format. And the reason why I could be OK with that is because they didn't bloat the price or anything. It was pretty much the normal price of a digital copy, if not slightly more, but you basically got a limited edition NFT-receipt included, plus some extra digital goodies (non-NFT stuff). - I think they figured they'd try that just in case, but it's was rather ironic for a band that's usually rather principled.
I was laughing at the dumb buy in celebs had for NFT's after being recently reminded by it from the new Kevin Heart movie from Netflix called "LIFT". It looks like it was pitched at the time when they thought NFT's were the future, shame things change super fast in the tech world lol.
How exactly did NFTs gain value according to supporters? The whole premise is you buy them to sell them for more. But how exactly do they appreciate? When land appreciates, its because its a finite resource and the surrounding area becomes more developed. Gold is also finite.
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LGs have sweet tellys and monitors.
I am in the need for a new TV but I ain't paying $1,100 for one. Dear Christ. Please tell me you got a discount code that'll apply to the whole store.
NFT’s? . . . Are they still a . . . “thing”? . . .
Wait. “Elon Musk”? . . . Is he still a . . . thing? . . . 😆
@CollinGerberding: Get a good surround sound system and you have a home cinema. Put in some comfy seating and make snacks and all your friends will look forward to cinema night. You can even advertise a screening of the Disney classic, Steamboat Willy (Now out of copyright) and make back the cost of the screen.
Mine’s only 55’’ but I hide in my study and use it almost exclusively for gaming. Size isn’t everything, so my wife tells me. 😉
I have a story. It's called the Useless NFT!
Once there were NFTs. They were SO useless that all of them died. The End
That helped a lot ☺️
Based on a true story
You got my vote for the Pulitzer Prize. :D
And they never received a funeral. The end.
Directed by Quinton Tarantino.
It's still insane NFTs got as big as they did despite it never being anything but hype and buzzwords.
Isn't that what a fad is? They get big then die out in a short time?
@@theotherohlourdespadua1131I wouldn't even say it's a fad. It was a stupid trap and like half the gaming community fell for it.
They only got big because they were SUPPOSED to be a way for artists to sell their art unrestricted.
Dude all crypto is is buzzwords
@@justin9202 Say you don't know anything about cryptocurrency without saying you don't know anything about cryptocurrency.
Other companies: "This NFT stuff is going nowhere"
Square's tone deaf leadership: "Less competition for us! 🙃"
SE: We're gonna rule the NFT metaverse!
Square enix leadership is why we never get dragon quest english ports
@@Chairdolfmight as well call it a fantasy
I swear they're trying to play the long game, like what Facebook/Meta was doing dropping millions on their metaverse or whatever. The idea is that if the concept *does* take off, there's a lot of money in it (because it's like, the perfect scam/racket. You get to sell stuff that doesn't exist physically and potentially make money off of every single time that metaphysical good changes virtual hands). Square is probably doing that, thinking "if we can just make this work... it'll all be worth it and more!" but based on the info in the video, doesn't seem like NFT or blockchain technology won't catch on in the near future or ever.
@@qryveini think the only reason they made profit as of late is thanks to Yoshi-P and FF14
Any bad day for NFTs is a GREAT day for everyone who knew they were trash from Day 1
They were absolutely laughable. The clueless people supporting them were hilarious with their descriptions and why they are valuable. Another scam 😂 gone.
My biggest W was not falling for that stupid scam. How anyone got convinced into paying ridiculous amounts of money for literally nothing is beyond me. No amount of buzzwords and terminology no one seemed to really understand could convince me it wasn’t a scam.
NFTs are finally headed in a direction i can confidently and fully support.
everyone to nft: "know your place trash"
Square Enix needs take notes from this.
Their note says, "Less competition now," in crayon
They’re obsessed with financializing what’s left of their player good will
People will forget they tried to pull this off when FF7RB sells like 5 million copys.
I can already see where some of the money is going in to
It’s no good. Their CEO’s clearly ignore the good old saying, “Read the Room!”
They should, but they most likely won’t.
I’m so proud of the community and everyone for not letting this take off and not supporting NFT’s.
What's amazing is that NFTs were such a shit product that gaming companies couldn't even make them worthwhile via whales, when whales constantly prove themselves to be financially useful idiots when it comes to other gaming products.
We failed with micro transactions and gambling. At least we finally got something right!
@@jakasmalakas lmao no joke!
I mean... Not that much credit to anyone tbh, NFTs just offered LITERALLY nothing for gamers. Look at anything else, battlepass, early access, microtransactions etc. We took it all hook line and sinker because they gave a crum of something for us.
NFTs failing are just a testament to how they have absolutely 0 use or appeal, since even GAMERS didnt fall for it.
Now if they only did the same for micro transactions..
It may be heartbreaking for the remaining 5% of NFT owners but it's damn great for the rest of the population!
Fuck em, they chose their path.
Heartbreaking? 95% of NFT holders are rich people who knew exactly the value was transient at best but were simply caught with their pants down when the market collapsed. Those of us who aren't stupid knew it was a scam from the start. Screw the morons who deserved to lose their shit. The scam couldn't last forever
@funsterkeyven a fool and his money are soon parted.
*Square Enix disliked that* 😂
It was doing more harm than good. No one has been able to provide an actual use that benefits us gamers other than have a controller in one hand and a credit card in the other. Why? Because...You own what you earn. Play and spend. Look we all want to make money but at this point it's becoming a drug when greed sets in.
The fact that GameStop said they’re quitting NFTs because of Regulation’s shows that the only use for NFTs is scamming people and if there’s anything stopping you from scamming then there’s no use. NFTs are just a scam, if you have NFTs you either were scammed or you’re trying to scam others or both.
they used to be dumb frog pepe pictures in 2014 4channers drew up that were always worth near 0, everyone had some bc they were literally given to everyone for no reason, it was a joke and everyone knew it. it took 7 years or so for scammers that lied professionally like the fake new web scam (web3) to grow to where they used their audience and promoting to push this old worthless 4chan joke as new innovation to "help" artists. can thank all the crypto scammers like vitalik buterin and sbf for normalization of scammers
I still never understood how they got away with "you don't understand the technology" as the ONLY ANSWER to "why is it revolutionary?"
It still just blows my mind that there were people that didn't see this coming. I mean, seriously.
True. But more than that, it blows my mind the much larger amount of people who ignored this life-changing wealth-making opportunity. Now THAT is pretty crazy to me, to dismiss outright something that could have improved theirs and their family's lives. People spend dozens of hours a week at their crappy jobs to barely make a living, meanwhile some of us made 6 digits in a few months with a bit of research and paying attention. No-brainer which side I am happy to have been on.
@@Semabachos You haven't made any money, don't play grow ups.
@@SemabachosJust because you were slightly luckier and was at the right place and right time doesn't mean it would have happened to everyone else.
The whole concept makes absolutely no sense. Anyone with a brain could see that, that's probably why NFTs are dying out.
@@wungadunga5099 Luck has nothing to do with your ignorance lol
@@_STNML If being ignorant is to not fall for obvious scams then yeah, but I'm doing just fine.
Always be suspicious when a product benefits the company instead of the customer/user.
Squeenix feels like the most out of touch company out of an overabundance of out of touch companies. It's like their pride is on the line at this point and refuse to back down.
The shallowest motivations yet they're the only ones who just won't give it up.
Square Enix back on their bullshit.
They fixed ff14. They probably think they are immortal.
@@SaraphDarklaw "fixed"
its so infuriating. stop wasting time on this bullshit SE.
And yet here's the thing, they can (and do) still release some good games from time to time
Too bad their leadership could go suck on a metric ton of raw eggs
NFTs have always been the modern version of snake oil. Crazy how many people bought into the idea when NO ONE could explain why NFTs actually have value or what they are that makes them meaningful. I did so much research because I kept thinking I was missing out on something, but could never find anyone with an explanation that was clear and logical. It has always been “buy this thing, sell it for profit later, people will just want them because”. Blows my mind.
You know its bad when even EA don't anything to do with nft
they probably explored the idea though😂
I never understood NFTs because no one could explain to me how as a consumer, they are beneficial for me lol
they could of been a good thing for games but companies were only thinking about dollar signs instead of how it could benefit players
The technology itself could genuinely be useful in VERY specific facets but it immediately got taken over by get rich quick types of people and ruined
@@shap7296It was unlikely they were ever going to be a good thing for games in any way that couldnt already be done far more efficiently if there was any incentive for it. Game publishers dont want you to buy a microtransaction that you can own in some other game, the only conceivable use for NFTs beneficial to consumers, they want to sell it you twice.
The technology itself could have been useful for quite a few things. Having a record of custody on a blockchain is very helpful for verifying the authenticity of works of art, historical documents, etc. Proof of stake is also applicable to functions like verifying identity, ownership of property, and such with the ability to transfer said ownership at the same time. Looking up the nft representing something like a car could reveal its previous owners, and prevent you from buying stolen property or other reasons.
Too bad all we got was a bunch of guys selling jpegs.
Because there never was any objective benefit to it, and the people in the comments below are grasping at straws.
Finally some good news. Funny how these big promoters are all quiet about them dropping NFTs.
Nothing puts a smile on my face and a spring in my step more than knowing NFT crypto bros are continuing to lose their asses on unregulated scams.
Its basic economics.
In order for you to make money, there must be money in it.
What does cryptocurrency do that makes money.
CryptoBros buying Crypto.
Hmmmmmm. Sounds like a one way system where the only solution is for loads of people to lose money.
@@BrandonDenny-we1rw define money. Define NFT. Bet you can’t
Well then you live a sad, uniformed life 😂.
@@_STNML my brother in christ, why do you take it personally?
If you are successful, why feel the need to correct the naysayers?
It's less competition, after all, no?
You're not paying attention early bull run has started we're making gains hand over fist right now
Stay in the rat race I guess many of us are getting out of it right now due to crypto. 🎉
NFTs... a solution in search of a problem to solve.
While creating real and immediate problems.
I think what is happening is the world realized NFTs are just fancy digital receipts, and that any kind of worthless thing like a JPEG file that is represented by these NFTs, is still a worthless thing when all is said and done.
If it was just a digital receipt nobody would care or actively hate them. Its the most inefficient, energy intensive form of receipt in human history.
NFTs are the digital equivalent of hiring a 30-man workforce to calculate & write retail/grocery receipts by hand, then having these crews of professional receipt writers compete with each other for receipt-writing contracts. All of them driving to work everyday and collecting full paychecks, a massive & pointless bureaucracy of receipts.
You'd think they would have gotten a clue the moment people started copy/pasting the JPEG everywhere and they had no legal recourse to stop them. But they still dragged it out for several years.
@@OmegaZyion there is normalized dishonesty in "crypto' bc there is billions to be made of buzzwords, anything that was just an idea someone made for good reason or for lols is copied and hyped by scammers to morons like those that fell for nfts. people fakely sold land on other planets before, sold stars, and now they were selling hyperlinks promising artists fairness. hyperlinks are still cool, what scammers pretended they mean is cringe
@@OmegaZyiondesperation. That’s the only way I can describe it
"What a shocking surprise!" said absolutely no one.
well those who said that are probably already dead
A dude at my work spent $13,000 on a NFT lol. He was boasting when it was worst $45,000. Now he's eating humble pie.
Now if only we stood tall when game and online service prices rose.
You just get called broke it you do, it's pathetic
@3:42 “NFT” stands for “Nothing F__king There”
Best example I can think of out there that actually had a benefit and use was Amiibos.
And even then, they eventually slowed down in use/favor.
And even if they're not useful they're still nice little figurines
It's almost hilarious that Square are so desperate to make NFTs work that even GameStop are more aware of the market than they are
i remember companies got even desperate saying that we don't like nfts because of our lack of understanding and we don't see the bigger picture, that made me so frustrated ngl, i still haven't swallowed the fact that a digital copy of a game costs the same as a physical one and they want me to believe this scam of nfts.
anyway, those are very good news to start my morning, cheers.
I think with the digital game prices, they just want to match the retail variant to still get more money. Still baffles me because if you want more people to get games digitally, why not entice a lower price point than the physical? I'm not just talking sales either. Just the base price.
@@M00nlightOfficial btw physical sales are nothing compared to digital.
You can find a copy of a 60$ game at 5$ or 10$ in a store but in psn or Xbox store it's barely 50% or 60% .
buying a pc was the right option, at least there's steam that has better deals .
The Cowboys got beat down and NFT's are failing miserably. All is right in the world today.
Sound like Cowboy is manchester united of NFL
Now if only the same happens to live-service games and microtransactions on the whole.
Ea in shambles
Those are actually profitable. If they weren’t, companies would stop trying the formula.
that is most likely never going to happen. the best we can hope for is that they wane just a bit and become more reasonable (like many already are)
They're not microtransactions, they cost more than most games
Investors are backing out as more and more live-service games are dying out, or generate no hype. They'll never truly disappear, but the "genre" is passed its prime
All these companies strangely announced their stakes in NFTs and block chain right as crypto crashed.
NFT = No Fuckin' Thanks
I honestly for months forgot about the existence of NFTS.
People of the non-stupid variety rejecting NFTs en masse is one of those things that make me regain a bit of hope in us as a species.
One of the millions of reasons we as a species are devolving…
Is the fact that some people actually bought into this.
Dude, this is not even new. We have a history of selling snake oil to people who are too stupid to know as far as ancient times. And we haven't moved on from that much: the players may be different but the game is the same...
It's not anything new though. There's always been people who fall for the latest scam since ancient times.
There's a sucker born every minute and that will be a constant throughout human history
@@theotherohlourdespadua1131And it's only more common since capitalism & profit motive have been encouraged as fundamental incentives for society
The whole planet continues to get slightly dumber as baseline atmospheric CO2 increases
Its funny that people are saying "regulatory uncertainty" regarding their abandonment of NFT's when the gaming industry has been going full-bore into loot boxes despite the ever growing evidence that they are training children to be problem gamblers. Regulations has nothing to do with it, it was a bad investment from day one.
Just go to smaller game studios and find good games
Big true
Isn't the point of NFT is to be no regulation regarding the transfer of art? If so then they can't complain when the government won't help them stabilize the falling NFT price now does it?
At this point, the only way Square Enix and Ubisoft could be more out of touch is if they cut off their hands.
It still amazes me so many people were so short sited and fell for this
Seemed like the Tulip situation.
Why do people not learn from history?
@@darklighter66 Honestly, NFTs are even worse than Tulipmania on multiple levels. For one thing, at least tulips have some amount of aesthetic value, unlike the tasteless procedurally-generated slop that's used for many NFTs. For another thing, the scarcity of NFTs is a completely artificial constraint (like it is for almost all digital items), whereas the most prized tulips were legitimately rarer and more difficult to create than others (because they had a unique discolouration caused by a virus that also made them more sickly and harder to grow).
Remember Tara Strong's Holiday verse? That movie that never came out.
Now if only Square-Enix and Ubisoft can get the hint
It seems like companys are just following eachother. How did EVERY MAJOR COMPANY make such a horrible uneducated bet on "NFT's". Waste of resources, time, people, management, etc. What happened to companies actually being original and trying new things on their own instead of following everyone else.
That's how it's always been
Working in a multinational company really teaches you that companies waste a lot of money in managment errors or nonsense projects. The amount of systems/platforms implemented that do not work as intended or colpase upon evryone migrates to them i vmhave seen in like 5 years is wild, migrating GxP electronic documentation like 3/4 times in less than a decade is a waste of everyones times
valve nixed nfts super early on
Meanwhile, Square Enix is wearing a straitjacket telling itself that everyone loves NFTs!
And somehow squre Enix wants to use AI and nft more moving forward...
NFT was the fad gold rush last pushed by business speculators, now they’re moving onto AI as a buzzword. Defining the actual benefit (for as many wide array of applications they are claiming it is a one-thing-solves-all thing) as usual, comes later. Outside of a carrot on a stick to try to get executives to think they can trade their workforce for.
I wish people would denounce AI as much as they did NFTs. Not only does it fuck over the artists who get their property stolen, it just sucks and should never be used as a substitute for human creativity
@@spoon7053 Yeah. AI may have a little bit of a different face, but it's being sold on the same inhumane monetary greed reasons that NFTs were being sold on.
@@spoon7053 You're right, but it's never happening. Unlike NFTs, there are innumerable use cases for AI beyond that.
At least AI isn't *totally* useless like NFTs were. However most of it just the same speculative handwaving or desperate CEOs looking for an excuse to cut workers. I even know a guy who said that the invention of Generative AI is comparable to the invention of electricity. Which is rich because I'm planning to become a machine learning engineer and I'm just like... no.
Glad to hear it. Games are expensive enough without them adding more to it. It should be between 50 to 60 but they charge 70 for half a game that is broken. Then they charge for subscription then pay to win bull shish. I won't buy any game with nfts nor will buy any game from any company that releases a half finished broken game. Even if they fix it eventually.
I still cant believe people paid thousands for a picture of monkee boi
The death nail was when exchanges prevented people from cashing out.
it's death knell
You mustn't cash out because in no time at all it's going to fully blow into a fox market, right after it transitions from a rabbit market.
After all these years, nobody can convince me that NFTs aren't a money laundering scheme
In addition to money laundering, there is also wash trading... Which is technically different. Did i convince you? Lol
Never forget that GameStop took all that free meme stonk's money and spent it on this NFT venture...
What a fucking waste!
things like this feel like companies playing follow the leader in an ant death spiral. They only did it because they thought they were following the next big thing, all the way down
And for a few seconds.. it felt like the universe was at peace.
11:57 oops you left that take in there.
“NFTs are the future”
No, they are the present. And they are quickly approaching the past.
Honestly, congrats on getting the LG sponsorship. That's big man!
I had kind of figured Gamestop's plan was to have NFTs tied to digital games that you could trade back in or sell in a market place.
As someone who has worked for the company? I doubt they had much of a plan at all. They just saw money and wanted in on it. They make a lot of extremely dumb decisions and I swear it's like the executives don't want the company to be in business. Lots of "short term gains resulting in long term losses" types of decisions. It's really no wonder they're struggling in my area to actually keep their stores staffed to the point where they're able to even just be open their normally scheduled hours.
Companies will never allow you to resell a digital product without them. It simply will not happen. They want to buy your game back for 5$ so they can sell it for 20+. You as a consumer will never have that freedom. Anyone who says otherwise is lying
Ryan Cohen pumped and dumped apes with nfts
With augmented reality becoming more and more of a thing, you mark my words….this NFT bullshit is going to make a comeback when it can “exist” in the lens of these smart glasses etc., and I’m going to loathe every moment of it.
Gamestop had an NFT marketplace?
It was pretty pretty note worthy when it came out; mainly because users were uploading stolen and already copyrighted materials and Gamestop had zero oversight over it.
Wow,@@sws212 , so they had THE MOST NFT of marketplaces. Surprised I missed that hilarity!
Thanks for the 411 ✌🏼🤣👍🏼
NFTs getting any bids at all at this point is wild.
To think that, three years ago, NFTs were the future to which we had to adapt or die. One can only hope that, in the near future, AI-generated “art” will be looked back on in the same light.
Until NFTs are worth an absolute 0 the job is not done
They were always worth 0, people just tried to convince us otherwise
Square are always the last to jump on and off any bandwagons lol.. They will be touting NFTs for at least another year or 2.
I personally feel that it's the best kind of in-video sponsor you can get
You know, I stay subscribed, because I find Yong a pretty ethical journalist, even though I don't watch these videos a lot lately. But this one I watched :] Absolute music to my ears.
Yong thank you so much for time stamping the ad on your video, many ads youtubers I follow simply wont apply for me as I am outside the U.S.
Thank god.. I foresaw this being a much longer running issue
And nothing of Value was lost.
Looks like the rich guys finish laundering their money.
I bet drug traffickers loved NFT’s
Oh no, what miracle of human genius could have ever possibly seen this coming!?!”
….
All of us, literally, every person and a brain that doesn’t have that sort of income to throw around on digital stickers.
Where did they think the market was? Literally only other wealthy twats.
the big issue with nft in games is they make money, people will just find the easiest way to cheese them and bots will be all over them to make money not actual people. to make nft usable and good you need to make sure the leagalese doesnt have any loopholes and good luck with that. plus companies wont do anything interesting with them anyways. square aint about to add the ability to make a fan game and sell it as an nft award. the best part is corporations trying to get on board. by design nft and blockchain is anticorporate until corporations make mining farms and fork the project when they own enough
Yong could you cover youtube sabotaging its own site and cranking load times and CPU usage for users with adblockers?
well youtube makes its money from ads so they are going o try and stop people using them so seems a no brainier there
Yong out here with an LG sponsorship, my man, congrats.
I thought the nasty fucking things died back in 2022
As an artist, people told me to do nfts and the fomo was real but you know what else is unique that only one person can own? A painting.
If NFTs are dead why do we keep getting these videos?
Literally nobody saw this coming.... damn, if only anyone saw this coming, i wouldn't have sold my house for that jpeg
Lol
What happened to the valve video from yesterday? Was watching it and it vanished? They come after you?
We're about a year or two away from the NFT backstory on Netflix
There’s an alternate reality Yong who’s an NFT bro named YongNope.
Hopefully, this will be a lesson for the future.
At least it is dying further.
I find it interesting how NFTS Became so popular In late 2021 and early 2022 and so many companies are just switching their production to AI stuff which is honestly better than crypto but the future seems a little dark as always with new exploitable technologies I love innovation # Sarcasm
Scams come and go . Sometimes they just keep going. MMLs, pyramids schemes , ponzi etc. My only advice " research"
The tokens got funged
There are lessons to learn here that apply equally to crypto "currencies". Bit-con.
These events spark joy.
And around the 12 minute mark there is an editing error
We're winning guys!
Keep pushing, don't let them breathe!
These billion dollar companies throwing away millions of dollars into salaries of people playing tf out of them. Yall could’ve paid me 10K and work for a day for me to tell ya it was a brain dead idea just by concept….
I legit forgot GameStop even attempted NFTs at all
someone should remake that one robot chicken skit about beanie babies
just replace them with NFTs, and replace the generic old guy with seth green
Square Enix is gonna be outraged! They are guaranteed to open an NFT marketplace now! Keep that sinking boat afloat!
They sold Tomb Raider for this.
The only people I heard talk passionately about NFT's were the manager type high intelligence-low wisdom kind of people that could only see the numbers encouraging their behaviour and how their bank account could benefit. I got the same kind of vibe from people who got ensared by MLM's.
Regardless of the stupidity of NFT's... Sponsorship by LG! Good job Yong!!
Thank you Chong Yue for the awesome news.
"This is the future of gaming, guys! We promise!"
it is though...most likely you just do not see it yet lol.
there are so many play to earn games out that are absolutely amazing that you never heard of...and I will not waste time to list them lol.
People WILL start to play games to earn a living , as AI takes over the workplace...just watch...you clearly have not thought this through...
@@GameDeveloperPrim-EvilDo you even hear yourself?
The nft marketplace is dead, crypto is a shadow of what it was, metaverse is a joke and generate ai is just a basic prediction tool that needs input from thousands of people to function.
People play for fun, if someone wants a grind of a job that pays almost nothing they'd work in telesales
The only time and manner when I could somewhat accept NFTs, while it also alarmed me at first, is when Muse released an album with the option for an NFT-format. And the reason why I could be OK with that is because they didn't bloat the price or anything. It was pretty much the normal price of a digital copy, if not slightly more, but you basically got a limited edition NFT-receipt included, plus some extra digital goodies (non-NFT stuff). - I think they figured they'd try that just in case, but it's was rather ironic for a band that's usually rather principled.
NFTs here one second and thankfully gone the next!! 😅
They never left
I was laughing at the dumb buy in celebs had for NFT's after being recently reminded by it from the new Kevin Heart movie from Netflix called "LIFT". It looks like it was pitched at the time when they thought NFT's were the future, shame things change super fast in the tech world lol.
😂 For giggles I checked out GameStop NFT, someone was selling an NFT for $1 million dollars. No wonder it failed.
NFTs aren't even the items themselves. It just points to a URL. The item can be changed and you still have that same URL.
GameStop had an NFT marketplace?
How exactly did NFTs gain value according to supporters? The whole premise is you buy them to sell them for more. But how exactly do they appreciate? When land appreciates, its because its a finite resource and the surrounding area becomes more developed. Gold is also finite.
I honestly thought NFT’s were not even a thing anymore . . . I look forward to the day when that’s true.
Well now... Let's just hope that SquareEnix finally follows suit in their next new year letter.