When I heard "play to earn" I heard "grind endlessly in boring gameplay to make pennies" but it's really "pay tons of your hardearned money for the chance to make pennies" and I wanna cry at how scummy that is
back in the mid 00's there was a virtual scratch and lotto ticket site, where you could earn few pennies or sometimes even some dollars on scratchoff tickets. if you reached 100 dollar minimum they wired you the money if you choose to. sounds like a bit of a scam as you could buy tickets both with your rl money and your ingame earned money, but every day you had 4-5 free tickets, plus a new ticket cost like 5 pennies. obviously there were some whales who pumped the money into it, but i never spent a dime on it just scratched away and 'reinvested' my earnings and in the end, after 3-4months i stopped around 30 bucks, because i realised what a waste of time it was and never logged back. still it was fun and gave the gambling fueled enjoyment and excitement without costing me anything. but i felt bad for whoever had no self control and spent money on it.
Still don't understand instead of working their ass out for money or invest money into something more reliable and smarter, they chose to invest into something that doesn't exist, the whole thing is just a bunch of people funding their money into a big chunk, then some people get profits from that, some don't, some lose their money. the whole thing isn't even based on relations of productions, the most basic thing in economic. total understandable it stops before it even starts.
Really cute how the NFT bros try to astroturf their way to gaming, pretend they have any idea of what happened, and just say "you know what gamers want? More microtransactions!"
@@mapleflag6518 no instead they charge you 5 dollars for a few items that should belong in the stuff category then you have 10 dollar stuff packs for a few more items and once you get to 20 you have even more stuff aside from something like vampires which actually adds something to the game aside from items that should have been there in the first place and then you have the 40 dollar dlcs and all of this totals to an extremely high price point but i dont reccomend buying all not because its all overpriced but because some of these microtransactions can actually effect your game negatively and you would need to mod it to even hope to fix it cause ea will never release something finished its why theres sims 4 pets and sims 4 pet stuff or you could do what most people do and pirate the crap out of ea and get all the dlcs you want for free
Turns out that making a video with the words "Crypto" and "NFT" invites bot accounts that try promote their scam accounts. Says a lot about the whole thing. Beware...
If somebody is watching this, i think they have enough mental capacity to not fall for the "I gave my money to MR. Morgan and have been making 2million a day since! WOW!. He asked me not to tell anyone but i was stupid and came here on RUclips to comment about it lolol!"
@@Hiihtopipa saying that people who get scammed lack "mental capacity" is the most damaging idea out there related to scams. ANYONE, regardless of "mental capacity" and intelligence, CAN GET SCAMMED. If you think you "have to be stupid to fall for a scam", well, you are a PRIME TARGET for getting scammed. I mean, only stupid people can get scammed, right? And you, yourself, are smart. So, of course you will not fall for a scam. You will spot it miles away, because you have "the mental capacity". Oh, what's this? You find yourself in a difficult life situation and desperately need a solution, but see none? Wait, there is one! Here's an appealing offer which will save your life! Yes, it's a bit risky to send your money and data to this charismatic stranger, but hey, do you have a choice? You can only hope for the best and........ You have been scammed of your last penny and your hopeless situation got so much worse. Never assume scammers are dumber than you. The ones who are you will spot, but you will always spot the ones who aren't too late. But mostly, it's about exploiting psychological vulnerability. EVERYONE has one and scammers are MASTERS of exploiting it.
This is an actually wonderful game, it doesn't require a lot of investment, the difficulty can be chosen by the player himself, and mining, despite being thematic focus of the game doesn't distract you from the fun parts. Oh, sorry, I was talking about Deep Rock Galactic.
The thing with Crypto in video games is that it always ends up being a project to make gamble investments seem fun, as opposed to making already fun experiences more valuable.
@@IsaacClodfelter Inserting Crypto into a game makes it 100% of the time worse. There is no value to it for gaming. It‘s obviously and only there for profit of the company. Fck that shit.
Actually, there's 2 ways to make money in NFT games either - sacrifice your gpu into "crappy, unoptimised" games which actually using your gpu to mining not for gaming. - sacrifice your money because the game locked progress for "free player". In order to continue, you must buy "this" NFT. Either way, its feels wrong to say NFT games are "Play to Earn" More like "Pay to Earn, and make this as your second job if you want profit"
So what the developers were saying is that players need to to pay into the system in order for the system to run, which will then pay out to players later down the line, but only if current players reinvest their earnings, or new players invest fresh money, in to the game to keep the system running. All while the developers probably are taking a cut of market trading and minting for their own pockets and development. Hmm, that sounds a bit like a ponzi scheme, but hey at least everyone is having fun, right?
Or like multi level markering. I think the only difference is that mlms have actual products that can (in theory) be sold to outsiders, while ponzi schemes don't even have a product and are just a big lie.
Straight up just how crypto works. The big pro crypto movements happen because the market needs new people to pull money from, because crypto isn't money, just the idea of it.
I just cannot understand how people can fail to understand this. The very idea of play to earn makes absolutely no sense. Like, where do people think the value is going to come from? A system that only has value as long as people keep putting money into and don't take it out it is not producing anything, so there's nothing to earn.
'play to earn' is basically always a pyramid scheme, but just indirectly. People can only earn money as long as *other* people are joining the game, spending money, and then leaving with a net loss. There's no direct 'you're my downline' type of dynamic in many of them (although some of them do act like that), but unless more people are joining, nobody can make money. NFTs and cryptocurrency don't create new value, it just moves it around between different hands. So for one person to gain money, someone else has to lose it, and it certainly isn't coming from the developer's pockets. Therefore it must be coming from players.
In that case it's closer to a ponzi scheme, people pay into a pot of money with the claim that they'll get dividends because they're investing in a productive asset, when in reality the returns they get are effectively just money out of the pot (in this case crypto buoyed by people constantly paying in), and to ensure that there's still money in the pot new people have to be pumping outside money into the scheme, and once people stop joining, and especially if they start pulling out, the scheme collapses.
A Ponzi scheeme. You give me money. Someone else gives me money. I give you this money. Someone else joins. I give this money to the second person. Rinse and repeat
@@josesaldua8111 yeah you made money off of idiots. The average person can’t afford to spend so much money on NFTs and get such a little return . They would be better off buying stocks.
Not true. It usually leads to empty wallets, homelessness and eventual seppuku when grandma realizes you wasted your inheritance on jpegs of ugly monkeys, and she's beating down your door with her rolling pin.
Ah yes make a game with a "decentralised" profit system yet 1 person held almost the entire game on their shoulders and decided to bale sounds about right
The best they could hope to ever be is gambling, but gambling is a heavily regulated industry where you have to compete with governments and organized crime. Good luck.
It's funny how games are advertised like this. Look at some popular MMOs out there, people are willing to trade for real money, thats true play to earn right there.
@@jusstyno RWT is still a risky business; you normally have to trade i high volumes to make back what you lose on banned accounts and time lost getting them able to farm.
I never followed this, but if to developers held the majority of tokens, some "whale" sold a large number of tokens which tanked the market, and the developers are already planning ANOTHER relaunch with little concern or setback from the first game.... It's almost like the developers are the ones which used the game as a pump and dump, and are going to do it again. But haha, that's crazy, right?
Actually, legit P2E players lose more money than scammers, as scammers only invest time to try and grab some money, while the players have to invest money and hope to get their money back while the project owners just sell lots of tokens when the price reach a good value making a snowball effect that will prevent the legit player from ever receiving the money spent back.
@@Goldern "Legit" "players" are just scammers. You can't intend to make money from a bigger fool scam without being a scammer. That's the problem with the entire system. None of it creates any real value, has any real value, it all relies on having another fool to buy you out, because it's worthless outside the scam.
I don't think pay to earn players are scammers. They're just generally either not very knowledgeable on the fact that most of these games are complete scams, or are fairly stupid and think that they can earn money despite knowing that the game is a scam.
Trying to make money via video games is a lot like trying to make money in a casino. And a casino that has more money flowing out as winnings then flowing in will not remain open for very long. Every win is built on the back the loss of someone else, either directly or indirectly. The house always wins.
At least you get some excitement out of a casino or betting on sports and stuff unlike these boring games. The only kinda positive thing is that p2e games are a lot less addictive than gambling and loot boxes.
The thing is that "making money" while playing videogames is possible, in it's simplest form getting good at competitive games like fighting games could potentially make you win prize money on tournaments, or in most mundane cases farming objects and gold in MMORPG where people is willing to pay real money for it can make you back some cash If that's in really what you want. But in order for that you have to make a game that people don't play only in order to make money.
So am I wrong, or are these NFT games just like the stock market but with extra "fun" and "interactive" steps and way less stable.... which is saying something since the stock market isnt very stable to begin with
PRetty much. THe entire concept of NFTs is to buy lot and sell high which is LITTERALLY the motto of the stock market. BUt unlike the stock market which deals in real companies (ideally) and real products (again ideally) NFTs are entirely intangible and have no real world significance at all.
@@metazoxan2 Stocks also have actual real value. If you stock in a company, you actually have say and power over that company, depending on how much stock you have. If you have the majority of stock, you can literally tell the company what to do. But more than that, because you have stake in the company, you are actually PROTECTED by law, in case the company fucks you and your stock over. As seen in the news a lot this past month, Twitter's Board are BOUND by law to not screw over Stock Holders, and do everything to make them profits, and will get sued and lose everything if they fuck them over. NFTs tho, are bound to Crypto currencies, a fake digital currency with no value, no power, no meaning, other than what value people decide it's worth. This is why it always FAILS. 100%. EVERY single one fails. Period. Without exception. Cause all it requires is people to decide. "You know what... I don't want to buy X coin anymore." And that currency instantly becomes worthless. Cause it's tied to nothing but people's belief. That is why, like in this video, the second a majority of people experience 'Fear' of any kind, the currency instantly dies. Also 99%, literally 99%! 19 out of 20 currencies looked into, were Scams, Fraud, and ways for Rich people to hide money for tax evasions and hide assets from tax audits. Literally EVERY single one, but 1! Why ANYONE would trust, literal 1s and 0s with no value, existing in people's mind and the digital space, as having actual real world value boggles my fucking mind with the shear stupidity and ignorance of idiots that exist across the globe.
im convinced the "fun" and "interactive" coat of paint on most of these projects is just a manipulation to scam the vulnerable, stupid and young out of money they think its fine because its a game
If the Devs had a large chunk of the currency, it is possible that a whale didn't pull the trigger and sell, but actually the developer. They got cold feet when people were analyzing the game and decided to sell to make a profit. That is my theory.
If the code was analysed, that could be found out. Example: Save the Kids. It was found out that there was no anti-whale selling code, meaning a dump was intended. If there was something similar with this situation it would shed light on their intentions
It's rally amazing how quickly this NFT thing blew up and how little any real people give a damn about it. EVeryone I ask either hates them or has no idea they even exist. BUt so many companies just see dollar sign potential and dove head first into it dreaming of fabulous fortune. None of them bothered to check if there was a legitimate market for NFTs and just assumed the market would materialize.
The problem with pay to earn games is that playing games simply does not create any value, unlike actual jobs No bricks get produced No roads are built No toilets get scrubbed ect ect. So the only real way to make money out of these pay to earn games is to have some of the players literally pay the other players for paying. Imagine signing up for a company to work and the work they added 0 value and all that happens is that each of the 50% youngest workers give 100$ to each of the oldest 50% That's pretty much what you're doing when you play pay to earn games, you're literally just giving someone money unless you're at the top in case someone is giving you money
I’d say that crytpo and NFT’s most closely resemble a hybrid of a Ponzi scheme and a pump and dump scheme. New people pay into the scheme with actual money, increasing the value of the tokens, and this allows people already in the scheme to cash out and profit. So long as more people are buying in than cashing out at any given time, it keeps making money. But once people start pulling out en masse the value crashes and the last wave of suckers is left holding the bag. Or should I say hodling the bag?
There are alot of online games with strong pay to play mechanics. Loot boxes, battle passes, RMT and power leveling to list just a few. If there is enough demand in a game for currency that itself is the 'bricks produced/toilets scrubbed' analogy for ya. Then you just have to divide the player base into those who are creating this currency through game play, to sell to the whale/$$$investor customer and rinse repeat. Guildwars2 beat RMT by implementing gems that can be purchased with in game earned currency or purchased with real world money directly to the company. It's essentially a virtual currency that has a dollar value that can be earned by doing virtual tasks in a video game. Now if that same game paid real world money out directly to the players (maybe charging a transaction tax to support the game) they would be able to create a pay to earn game for some while still allowing the pay to win/play aspect the rest enjoy. MMOs are the easiest example because they function in game very similarly to a business in that you are managing so many things and investing currency/time etc.
Lol, NFTs absolutely have a shelf life, and this gane shutting down puts it on full display: when the servers that contain the assets linked to the tokens are shut down and the assetd are no longer accessible or usable, the tokens become worthless.
Imagine the poor crypto doomer guy who lost all his money to this and now gets lured into the 2.0 version of it because the developer said "it's even more predatory now, but bro, believe us, it's gonna be so awesome this time!"
Anytime I hear "play to earn", I just hear "let's take something fun that you do just for the sake of it being fun and turn it into another job". Let fun be fun and let jobs be jobs; they are different and serve different purposes.
It's worse than that, really, because these games are always doomed. They can't really produce anything useful. In theory they could produce entertainment, but none of them have actually been any fun to play. So the business model is just that of a ponzi scheme: The only way that anyone can get money out is to have new players constantly joining (and thus putting money in), and they all expect to make money too which demands even more new players. It can only function so long as there is continual growth, and endless growth is impossible.
I can't understand how people invest money in something that ultimately has absolutely zero protection and regulation, practically like someone on the street saying "give me all your money and I'll make you rich". What guarantees are there that the success rates of the activities of this "game" are actually respected? Zero
The lesson is to never even have the thought of touching NFTs since they're just to scam idiots out of their money. Not saying you're an idiot unless you get scammed and didn't learn your lesson.
I hate NFTs on a rational level, but I've made about $500k off flipping them in the past year. I came from a background of utter poverty, you best believe I'm going to take advantage of one of the largest redistributions of wealth in our lifetimes, even if I actively dislike the product. I'm not saying any of this to brag or convince anyone to buy NFTs, in fact you'll probably lose money unless you really do your research. But it is possible, and not everybody loses money, I know I'm in the minority though, and I'm fine with that, it is what it is.
Whenever NFT-related things die and NFT bros cry because they lost a lot of money to that garbage, I gain more power. I feed off of their suffering. Mhhhm, yes, more!!!!
power is your wealth relative to the mean wealth. while some people lost big, others gained as much, this is all just money moving between other people so how does that change your relative buying power? Ultimately this is just a tragic loss of efficiency and an unjust transfer of money from the scamed to some scum sucking bottom feeders. The bottom feeders could have used their skills to make a real game instead, the scamed could have played that game and had some fun, or spent the time looking for a real job, and avoided a shameful loss. it makes me sad
Pretty funny, Runescape can't stop people from trading their ingame gold for real life money and these guys can't make it happen with that as their goal
Runescape provides something of value, an enjoyable experience (at least to the players who enjoy that kind of game). Thus its content has an actual value.
as someone who's been anti crypto/NFT since day 1; i cant help but laugh to see people fall for this scam. while it is sad how people lose everything thanks to believing in this bullshit, they should've known better and listened to the many warnings about this concept
All the uses of blockchain technology for patenting, completly bulletproof ownership laws, licensing, right to repair, god knows what else. MONKEY PICTURES. SCAM GAMING. THAT'S WHERE WE ENDED UP RAAAAAAFGGHHHJFGHJ.
The the "FUD" concerns were that the devs held all the coin, the "whale" with all the coin sold and decimated it's value, and the devs said they'd cut their losses and walk away. Am I missing something or does this sound like a huge rug pull? I guess it's crypto and someone probably would have been tracked by now, but it sure seems handy that the devs built the coins value, it got sold quickly, they said "oh, the problem is that you all weren't spending enough" (which, as you say, doesn't seem like a solid reason), and can try again. I just wouldn't be surprised at all if in the future that whale in question was found to be involved with those devs. Just speculating of course, but something just seems off.
It is certainly a scam, but there's a nonzero chance that the devs were the marks as well, depending on how their currency was circulating. It is entirely possible someone saw a chance to run a pump and dump scheme under the dev's noses. It's very unlikely, true, but it's a question of stupidity vs malice. And either way, don't give these guys any money.
@@watchm4ker didn't certain youtubers and streamers do similar things? They would hardcore promote a new coin, have the price of it skyrocket and sell for a 100x profit and pretty much leaving their viewers with a huge loss because they decided to use it as a way to make quick money? People have to realize at some point that when someone holds most of one certain thing, they have control over it.
@@twiztedmind209 Straightforward pump-and-dump. They're all over the place in the Crypto market, because it doesn't take much demand for the price to skyrocket.
I love that the lesson the devs took from the first failure, assuming it was not caused by them pulling the rug, is that the ecosystem did not encourage adding more money from the outside enough to remain stable. Now, where did I hear about "investment schemes" that are fully dependent on new investors putting more and more money in to keep going... Nope, does not ring a bell, must be perfectly legit model.
@@lyokianhitchhiker crypto claims to solve the problem of fiat, that being that its a money based on trust alone and nothing else, by making hyper-fiat that is also dependent on a system that can go down for months with a few snipped wires... at least you can hold onto your fake paper money, but you can't hold your 0s and 1s at all. all crypto is is an elaborate gambling scheme. watch this stock go up and down, lose your life savings. at least 'real' stocks have insider info, but here it's just the whims of the world lol
The big problem with pay to earn model is: The games aren't fun and people only play them to earn money. But the things you earn can only be used in the game itself. So when people evetually stop playing or move to other crypto games your currency becomes worthless. Or like in this case, if you have a drop in value (which in crypto is quite common even with the successful coins) there is no reason for people to keep playing and your game and currency/nfts are doomed. It's a downward spiral. The only way I see this model succeeding long term is: A. Make a fun game that people want to play regardless of the crypto stuff. Crypto and nfts are volatile and it's a lot easier to recover from a drop if players stick around and keep playing the game for fun. B. Strike a deal so your currency has value outside and independent of the game. This may make your game more appealing to people that don't care about Crypto or nfts and at the same time acts as a sort of safety net for the investors even if the game isn't a hit.
B is basically impossible. Whoever you partner with will be wanting to convert their scrip into cash to pay their real-world costs, and that will be on *you* to provide.
Always nice to see DRG getting a little shoutout. Probably the best group of devs alive atm. Regular free content updates that deeply vetted & tested by the community, & some minor cosmetic DLCs along the way to continue funding the team. Not to mention the fact that the game has an obscene amount of cosmetics you can get just from playing, & the game goes 1/2 off for a while with every major update. It quickly became my most played game of all time over the past few years. A large portion of the community buys the cosmetic DLCs just because they actually WANT to support the devs & how fantastic they are. It's a wonderful community.
Yeah, it's like they are recreating the very beginnings of market economies, with all the teething problems the rest of the world got rid of hundreds of years ago. Many of them claim to hate the traditional money system so much, but they fail to realise they retrace almost the exact same steps.
if you're loud and insufferable enough, you'll always find new marks these types prey on the uninformed and lure them in with brash marketing and outlandish, unfounded promises
That's just literally capitalism always. There's a huge likelihood that if you were born in the last 40 years, your childhood will have been impacted by a global recession/financial crisis. Capitalism is inherently based on the systems seen in crypto/nft stuff *because crypto is in essence just a microcosm of unregulated capitalism and therefore shows the inherent traits at a vastly increased speed*
I got a Blankos ad on this video like holy shit imagine trying to get me hooked on your NFT game on a video about a NFT game being terrible or something
I feel like at a certain point you would have so many ships and workers that continuously reinvesting will become a full time job managing all your assets. At a certain point the wales will switch from reinvestment to just management of what they have. Why invest in more ships or workers where if you miss a single day of gameplay your swamped with work assuming your ships and crews to new planets? This floods the market in game of its crypto without any more investment of real world money. Just bad game design with end game content being tedious as fuck. Making it so the workers and ships expire as their fix makes the end game even more tedious and less profitable. This doesn’t fix the fundamental issue that the game is boring as hell to play as a wale.
I’m new to the channel but just binged the most recent “What went wrong with x” videos and now finishing up this one. Looking forward to supporting this channel. I really needed more to watch
The real thing that killed the token of this game is that it tried to be money for nothing so the only thing that was buoying it was constant infusions of outside cash by new players. There are two ways to actually earn money: Either labor yourself, for someone else or as an independent entrepreneur/freelancer, or own some kind of productive/in demand asset like shares in a company or property for rent. This game calls itself mining, but unlike actual mining, no valuable minerals are being extracted from the ground for sale. Fundamentally, all crypto, as a non-productive asset that doesn't even have a tie to a physical commodity with an actual use, will only continue to be valuable so long as outside cash flows into it. Crypto produces nothing, crypto does nothing, crypto is basically taking stock, which has had issues due to being somewhat abstract for centuries, and completely divorcing it from the productive assets that give stock its backing. It is literally trying to be money for nothing, or arguably even worse, money for wasted energy.
Making these games is a really good trick. Just hold a lot of the currency as dev. Wait until it is valuable, sell everything. -> Half the Money from all people in the game is now mine.
I think it needs to be pointed out that this wasn't just a case of bad execution, the concept is fundamentally unworkable. It is not possible to have a play-to-earn game where everyone involved makes a profit in actual currency. You can profit in the in-game currency, but in order to cash out and make that profit real, someone else must buy in for an equal amount, therefore it's always a zero-sum game (except it's actually negative-sum for players, because the developer also takes a cut. In other words, it's a bigger-fool scam). As soon as people stop pouring in investment, the value of the ingame currency will drop to nothing. Since the game doesn't actually produce anything of economic value, there is no reason for that investment to continue in the long run. The NFT bros envision a world where you can make money playing games but they don't understand how economics actually works. There are play-to-earn systems out there which are sustainable, they follow one of 2 patterns. One model is to get investment from non-players: almost invariably advertisers. There are two problems here. First, advertising is cheap, so to turn a significant profit you need to either exploit other players somehow (MLM-style referral schemes) or cheat (botting). The second problem is that these games have a perverse incentive from the developer to cram as much advertising into the game as possible, so the quality of the game experience is likely to be very low. You're basically just watching ads for less than minimum wage while being distracted with some shitty mobile game. The one actually decent model I know of is that of poker (or PLEX in EVE), where some players are able to profit because others make a loss. For this to be sustainable, the loss-making players must be willing to keep paying because they enjoy the game, and not because they're trying to make a profit. With this business model it's possible for a successful and sustainable NFT game to appear (though there's no reason at all to use NFTs for this instead of traditional virtual currencies/items), but it has to be a good game first and an investment opportunity second. The odds of that actually happening are tiny in my opinion. It directly conflicts with the stated ideology of NFTbros (everything should be an investment opportunity) and it conflicts even more with the actual ideology of NFTbros (throw together a low-effort project, take the money and run). They are never going to come up with a genuinely good game concept, and then hire a proper game studio to create something of real artistic merit and quality.
Honestly I don't feel like having an NFT or crypto game makes any sense. Why use a decentralized ledger for a centralized product? Especially a centralized product that is nowhere near as secure as the blockchain. A video game with a crypto economy is like Greece and the Euro: An economy that has no control over its money supply
surprise surprise, the crypto game was a scam; who'd've thought. It really is like a bunch of people invested real money into monopoly money, and then the chief of the monopoly money took the real money and said "see ya, chumps"
NFT's are purely a scam, so any game that employs them becomes a scam by extension. NFT's are basically just environmentally hazardous Microtransactions. I have yet to see any actual use of NFTs in a way that ONLY NFTs could do it. "But you can buy NFTs and have them be cross-game and then you can use them in all your games!" is something I often hear said. No you can't. Games aren't cross compatible like that. Every game would have to be designed with the express purpose to be compatible like that. And then you can as well just not to the NFTs and just transfer your Microtransactions outright. Pokemon doesn't use NFT's and yet I can still use the Blaziken I got in Gen 3 in todays Pokemon games. Cross Compability of games is a thing that needs to be programmed, but it does not need NFTs to work.
Pokemon is actually an excellent example of why the NFT multiverse will never work the way they claim. There are some pokemon you cannot bring into the newest Pokemon games.
Crypto mining consumes power resources equal to a small country, it's like literally torching the Earth to generate petty cash. The energy requirements are so massive for mining operations that they have to steal the energy or else they don't generate a profit. Tesla stopped accepting Bitcoin because of how environmentally destructive mining is.
At first when I saw Deep Rock Galactic i was like "but you do need to invest" but then I realised nah you don't you just spend money and then you have the thing you paid for ... and futur content via updates ... Played it a while back at a friend's house ! Really fun ! Wish I had it tho :/ But yeah this game is extremelly fun ! (I can't imagine how much more fun it probably is nowadays with the many new update it probably has by now ...) Molly I miss you :(
logically i know the nft game you're talking about isnt the game being shown on screen, but subconsciously i keep thinking you're showing footage of the nft game and i keep thinking its not that bad lol
You should watch folding ideas's line go up. The whole premise of a pay to earn game is that people put money in and some people earn it out. It is 0 sum and since the game has running costs it will literally infinitely blead money, some players will make money, but for every dollar earned someone has to loose a dollar. If you keep screwing half your player base a game like this will never work.
I think steam marketplace does NFT gaming better than anyone else. The stuff you can buy for a few cents/dollars, then you have the CS:GO marketplace inside of steam marketplace where you can essentially day trade. It just isn't worth anything outside the closed system, and you can't technically "cash out" outside Steam without using sketchy websites.
the screenshots of workers and stuff showed look like theyre ripped from an old ps3 game i used to play called 'dust 514'. cant confirm it for sure but thats just something i noticed.
Wear and tear isn't the point where NFTs are doomed. NFTs are doomed because they are extremely similar to those real world financial derivatives. Like most of derivatives (which cause 2008 subprime mortgage collapse) they are doomed to fail.
From what I can tell... it was most likely the devs who themselves dumped the game. With their new profits they expanded themselves with the reborn remake, lotto, and brawl systems. Any other dev team that would have made this kind of game and a whale did cashed out won't want to redo it all over again.
In your description of the game i was missing vital part of an economy: Where does the money come from that you as a "player" are supposed to earn? In order for you to earn something someone else has to pay for something that you offer, be it a thing, a service or your time. For example if you play an MMORPG you could farm rare items (with your time and/or skill) that someone else could buy from you. Or you could farm ingame currency that someone else could buy from you for items or real world money. In either case the other party gets something that they don't have to put time or effort into getting themselves. Here you pay eternal to get ships an crew, you pay eternal to send your crew mining. As reward for mining you get eternal. What is it that someone else would buy here? If you want to make a living from a game you regularly take money out of the game. For that to work someone needs to regularly put money into the game that they don't get back. Why would someone want to pay money into this game?
You hit the nail on the head why the pay-to-earn model is fundamentally broken, at least in its current implementation in these games. What you have is essentially a bunch of producers of goods and services, but no consumers of said goods and services. In such a situation, how could the producers ever make money? What people who believes in the pay-to-earn model seem to not understand is that it's the demand of something that gives it value, not the supply.
The creator is probably the one that sold and move on. regardless, this sounds just like a pyramid scheme that offers 100% return each month, and once the income cant pay the investor, the creator just vanishes with their money(or moves to their next project) and as a Gamer standpoint Whoever bothers with P2E is clearly never played any MMO. If there is money to be earned, there will be gold farmers/ bots. And even IF the perfect game does exist. It will be more cost-efficient to outsource the "Player" to 3rd world country player to play against you. and suddenly you are now Playing 2 Earn less than $1/hr due to oversupply.
Diablo 3 in its early days had an interesting take on the play to earn concept and some people do earn a lot from that game selling gears useless to them. It was eventually removed due to backlash, but it was good while it lasted.
there are also games that pretend to be games and use your computer as a datamine in the background, people with beefy gaming computers report that the game uses all their cpu while not being that heavy itself
That graph showed 100% a pump and dump scheme coordinated by like 2 or 3 whales. There is no way that the developers didn’t know who that was, and it was likely themselves. That amount of crypto hoarding is insane considering one massive dump was all it took which means players barely owned a percentage of the coins
Basically, what I’m getting at is that you should make an entire game with the intent of it being a gamble but even more time consuming. So if I get this right you spend money to get the things to do it, such as crew and ship, then you start a contract to do said planet, in which case you wait an extended period of time so they can laugh at you for a good while, and then you redeem your reward if you get one. But the reward is a fixed reward rate so no matter if you have the best or worst you still get the same. Gambling with more steps, more wait, and the same reward regardless of investment. What’s not to go apeshit wild over. Casinos give you the worst odds and the highest reward, scratch offs give you meh to bad odds to get meh to amazing rewards, a drink bet gives you unknown odds and the amount you put back in. But notice how these are relatively fast. This game you got to wait, best use of a nft before it was a thing was Csgo skins, couldn’t save image. If you had the skin it was yours, the float could make it more expensive, the stat track could make it more expensive, and the rarity could make it more expensive. But you can sell and buy with out needing to spend a lot of money, and it’s based of the community, and it’s appraisals. So basically we ant to steal valves system, but make it absolutely useless to own. In Csgo your stuff still has some cool factor to it. No one says oooh look at my nft isn’t it sick? If they do don’t be around them for more than 3 minutes they give off radiation and will liquify your Brain. (TLDR) Gamble with a scratch off, they haven’t found a way to really copy Csgo skins. stay away from crypto and nft bros they will liquify your brain and make you retarded.
Wait a minute, so you're telling me a project that's based entirely on new users buying in to stay afloat and pay out existing users ultimately dried up when new users and even existing bailed? I've heard of an idea like that before, bonzi...fonzi...man it's right on the tip of my tongue...oh well, surely that's just a coincidence anyways.
The problem with pay to earn, is that many of these 'tokens' that fail to produce a real world value which would cause this to fail no matter how much faith you have in the system.
I mean... Why would anyone hoping to use cryptocurrency as an actual currency accept game tokens? If the point is that there is no centralized control, why go to a system where the central bank is a shoddily built and poorly disguised casino?
@@watchm4ker agreed! Like the reason stocks rise and fall is because there are real world consequences. The reason bitcoin succeeded was because it introduced artificial scarcity and once the “mines” depleted there is no more. This gives the coin its value and the fact it can be used outside its own system is another reason it has value.
@@gandalftheantlion Close, and certainly important, but the key is that the parameters of the token were set into law within the trading system as a whole, and can only be changed with the consent of the majority of users on the network. That is as impartial a central bank can get under real-world circumstances. That said, having a hard cap on the amount of currency is a pretty terrible idea. The point of a currency is to trade with it, not to hoard and stockpile it. A currency should grow and shrink with the economy that uses it, and have a stable, relatively constant value.
I think that the developers just hyped up the system, payed some content creators to create some gameplay footage and then once the level was good they flood the marked with their own supply of tokens "as developers that hold always the majority". So they took a huge profit already. This is the classic ponzi scheme but "game edition"
When I heard "play to earn" I heard "grind endlessly in boring gameplay to make pennies" but it's really "pay tons of your hardearned money for the chance to make pennies" and I wanna cry at how scummy that is
back in the mid 00's there was a virtual scratch and lotto ticket site, where you could earn few pennies or sometimes even some dollars on scratchoff tickets. if you reached 100 dollar minimum they wired you the money if you choose to. sounds like a bit of a scam as you could buy tickets both with your rl money and your ingame earned money, but every day you had 4-5 free tickets, plus a new ticket cost like 5 pennies. obviously there were some whales who pumped the money into it, but i never spent a dime on it just scratched away and 'reinvested' my earnings and in the end, after 3-4months i stopped around 30 bucks, because i realised what a waste of time it was and never logged back. still it was fun and gave the gambling fueled enjoyment and excitement without costing me anything. but i felt bad for whoever had no self control and spent money on it.
Still don't understand instead of working their ass out for money or invest money into something more reliable and smarter, they chose to invest into something that doesn't exist, the whole thing is just a bunch of people funding their money into a big chunk, then some people get profits from that, some don't, some lose their money. the whole thing isn't even based on relations of productions, the most basic thing in economic. total understandable it stops before it even starts.
"Play to earn" is ok I guess but "pay to earn"....
Just like casinos and gambling machines, but with extra steps, and an insecure system that can close whenever they feel like it.
well... still better than Star Citizen lol
Really cute how the NFT bros try to astroturf their way to gaming, pretend they have any idea of what happened, and just say "you know what gamers want? More microtransactions!"
NFTS are not microtransactions tho xD
@@theFishy_ correct, they're gigatransactions
@Scarlet Dani It will not surprise me if i learn that the sims game will add nft
@@JustBuyTheWaywardsRealms EA has surprisingly not stooped that low.
@@mapleflag6518 no instead they charge you 5 dollars for a few items that should belong in the stuff category then you have 10 dollar stuff packs for a few more items and once you get to 20 you have even more stuff aside from something like vampires which actually adds something to the game aside from items that should have been there in the first place and then you have the 40 dollar dlcs and all of this totals to an extremely high price point but i dont reccomend buying all not because its all overpriced but because some of these microtransactions can actually effect your game negatively and you would need to mod it to even hope to fix it cause ea will never release something finished its why theres sims 4 pets and sims 4 pet stuff or you could do what most people do and pirate the crap out of ea and get all the dlcs you want for free
Turns out that making a video with the words "Crypto" and "NFT" invites bot accounts that try promote their scam accounts. Says a lot about the whole thing. Beware...
Lol
If somebody is watching this, i think they have enough mental capacity to not fall for the "I gave my money to MR. Morgan and have been making 2million a day since! WOW!. He asked me not to tell anyone but i was stupid and came here on RUclips to comment about it lolol!"
@Butch2076 I'm sorry for your loss
@@Hiihtopipa saying that people who get scammed lack "mental capacity" is the most damaging idea out there related to scams. ANYONE, regardless of "mental capacity" and intelligence, CAN GET SCAMMED. If you think you "have to be stupid to fall for a scam", well, you are a PRIME TARGET for getting scammed. I mean, only stupid people can get scammed, right? And you, yourself, are smart. So, of course you will not fall for a scam. You will spot it miles away, because you have "the mental capacity". Oh, what's this? You find yourself in a difficult life situation and desperately need a solution, but see none? Wait, there is one! Here's an appealing offer which will save your life! Yes, it's a bit risky to send your money and data to this charismatic stranger, but hey, do you have a choice? You can only hope for the best and........ You have been scammed of your last penny and your hopeless situation got so much worse.
Never assume scammers are dumber than you. The ones who are you will spot, but you will always spot the ones who aren't too late. But mostly, it's about exploiting psychological vulnerability. EVERYONE has one and scammers are MASTERS of exploiting it.
Crypto can only be two things. Scams, or dystopic nightmare
This is an actually wonderful game, it doesn't require a lot of investment, the difficulty can be chosen by the player himself, and mining, despite being thematic focus of the game doesn't distract you from the fun parts. Oh, sorry, I was talking about Deep Rock Galactic.
You almost got me there
lmfao I was about to diss you as one of those con artists good one lol.
I was about to insult you... had me in the first half, not gonna lie. :D
DRG is goated
@@Akunai_ Rock and Stone, brother!
The thing with Crypto in video games is that it always ends up being a project to make gamble investments seem fun, as opposed to making already fun experiences more valuable.
High-tech scam
Entropia manged to pull that stunt; no better way to have fun than picking up virtual faeces and harvesting monster sweat.
It's unfortunate because if everyone involved was acting in good faith a game doing the latter could probably be made.
@@IsaacClodfelter Inserting Crypto into a game makes it 100% of the time worse. There is no value to it for gaming. It‘s obviously and only there for profit of the company. Fck that shit.
Actually, there's 2 ways to make money in NFT games either
- sacrifice your gpu into "crappy, unoptimised" games which actually using your gpu to mining not for gaming.
- sacrifice your money because the game locked progress for "free player". In order to continue, you must buy "this" NFT.
Either way, its feels wrong to say NFT games are "Play to Earn" More like "Pay to Earn, and make this as your second job if you want profit"
So what the developers were saying is that players need to to pay into the system in order for the system to run, which will then pay out to players later down the line, but only if current players reinvest their earnings, or new players invest fresh money, in to the game to keep the system running. All while the developers probably are taking a cut of market trading and minting for their own pockets and development. Hmm, that sounds a bit like a ponzi scheme, but hey at least everyone is having fun, right?
Or like multi level markering.
I think the only difference is that mlms have actual products that can (in theory) be sold to outsiders, while ponzi schemes don't even have a product and are just a big lie.
you just described every crypto/NFT ever
Straight up just how crypto works. The big pro crypto movements happen because the market needs new people to pull money from, because crypto isn't money, just the idea of it.
I just cannot understand how people can fail to understand this. The very idea of play to earn makes absolutely no sense. Like, where do people think the value is going to come from? A system that only has value as long as people keep putting money into and don't take it out it is not producing anything, so there's nothing to earn.
The debs also hold the largest stock of the mining and can modify the scrip however they want to you steal all your fictional “assets”
"This game failed, not because it's a terrible idea in general and it had terrible execution, but because of the players."
- the developers
Only the greatest can say that
Capcom, is that you? At least Megaman Legends 3 wasn't a literal ponzi scheme.
'' Nft's can't fail it can only be failed''
the developers were the ones who dumped once the value hit over $800 and cut and ran
"Oh no, my ponzi scheme fell apart! It's the fault of those spreading FUD through the community."
'play to earn' is basically always a pyramid scheme, but just indirectly.
People can only earn money as long as *other* people are joining the game, spending money, and then leaving with a net loss.
There's no direct 'you're my downline' type of dynamic in many of them (although some of them do act like that), but unless more people are joining, nobody can make money.
NFTs and cryptocurrency don't create new value, it just moves it around between different hands. So for one person to gain money, someone else has to lose it, and it certainly isn't coming from the developer's pockets. Therefore it must be coming from players.
You can only win money if other people lose it...
In that case it's closer to a ponzi scheme, people pay into a pot of money with the claim that they'll get dividends because they're investing in a productive asset, when in reality the returns they get are effectively just money out of the pot (in this case crypto buoyed by people constantly paying in), and to ensure that there's still money in the pot new people have to be pumping outside money into the scheme, and once people stop joining, and especially if they start pulling out, the scheme collapses.
It's then called a snowball system and those happen in the real world too, all the time
Cryptocurrency is literally just a pyramid scheme. It's always about getting money off of some other poor sod thinking he'll get rich.
A Ponzi scheeme. You give me money. Someone else gives me money. I give you this money. Someone else joins. I give this money to the second person. Rinse and repeat
I hope people can understand, that nfts will literally lead to nothing in life
lol, i made close to 30k with it
@@josesaldua8111 yeah you made money off of idiots. The average person can’t afford to spend so much money on NFTs and get such a little return . They would be better off buying stocks.
I think you made a wrong turn, the circus is that way👉
"Hi I scammed people by playing on their needs to make money and to belong to a community! Praise me!"
Jose Saldua
Not true. It usually leads to empty wallets, homelessness and eventual seppuku when grandma realizes you wasted your inheritance on jpegs of ugly monkeys, and she's beating down your door with her rolling pin.
Ironic the currency’s called “Eternal” considering the lifespan of the game
The Higgs Boson lasts longer.
LOL! 😂😂😂
@@Bacony_Cakes And how long does that?
0 seconds?
Maybe call it “Flatline,” considering its value and that it’s dead
Plastic lasts a long time, it's everywhere, and cheap
Ah yes make a game with a "decentralised" profit system yet 1 person held almost the entire game on their shoulders and decided to bale sounds about right
exactly
it's bail btw, not Bale, that is an actor
@@coaiemandushman1079 who the fuck asked
@@coaiemandushman1079 there’s also a Welsh Football Player named Bale
@@spoonsforlife967 oh damn ,I'll remember that
If you think it wasn't the devs who did that I have a bridge to sell ya.
Play to Earn will be bad gimmicks at best and actively illegal scams at worst
The best they could hope to ever be is gambling, but gambling is a heavily regulated industry where you have to compete with governments and organized crime. Good luck.
It's funny how games are advertised like this. Look at some popular MMOs out there, people are willing to trade for real money, thats true play to earn right there.
@@jusstyno RWT is still a risky business; you normally have to trade i high volumes to make back what you lose on banned accounts and time lost getting them able to farm.
@@dakota9821 Thats true, but with enough experience and time ivestment its still 100% more reliable than NFT games
@@jusstyno the single biggest difference is that those are (usually) actual games, not just vessels for a crypto scam lol
All the ships in this “game” are not custom made assets. They are taken from a mod for a game called stellaris. the mods name is KRUOGANE. All caps.
Ironic
"KRUOGANE" looks like it was trying to be a Japanese word but misspelled
@@williamdrum9899 Yes it is called Kurogane.
I never followed this, but if to developers held the majority of tokens, some "whale" sold a large number of tokens which tanked the market, and the developers are already planning ANOTHER relaunch with little concern or setback from the first game.... It's almost like the developers are the ones which used the game as a pump and dump, and are going to do it again. But haha, that's crazy, right?
Crypto is inherently a bigger fool scam. Can't say I'm devastated to see scammers lose their money, but it's a shame it goes to other scammers.
Actually, legit P2E players lose more money than scammers, as scammers only invest time to try and grab some money, while the players have to invest money and hope to get their money back while the project owners just sell lots of tokens when the price reach a good value making a snowball effect that will prevent the legit player from ever receiving the money spent back.
@@Goldern "Legit" "players" are just scammers. You can't intend to make money from a bigger fool scam without being a scammer. That's the problem with the entire system. None of it creates any real value, has any real value, it all relies on having another fool to buy you out, because it's worthless outside the scam.
Like all Crypto, it's all just a get rich quick pyramid scheme.
I do not feel sorry for the people that bought into it.
I don't think pay to earn players are scammers. They're just generally either not very knowledgeable on the fact that most of these games are complete scams, or are fairly stupid and think that they can earn money despite knowing that the game is a scam.
Trying to make money via video games is a lot like trying to make money in a casino. And a casino that has more money flowing out as winnings then flowing in will not remain open for very long. Every win is built on the back the loss of someone else, either directly or indirectly.
The house always wins.
The house always wins but poker is fun atleast
At least you get some excitement out of a casino or betting on sports and stuff unlike these boring games. The only kinda positive thing is that p2e games are a lot less addictive than gambling and loot boxes.
The thing is that "making money" while playing videogames is possible, in it's simplest form getting good at competitive games like fighting games could potentially make you win prize money on tournaments, or in most mundane cases farming objects and gold in MMORPG where people is willing to pay real money for it can make you back some cash If that's in really what you want.
But in order for that you have to make a game that people don't play only in order to make money.
Damn, it's like there's a correlation between "scam" and "NFT"
The most charitable interpretation of the data seems to be "It's easy to scam with them".
So am I wrong, or are these NFT games just like the stock market but with extra "fun" and "interactive" steps and way less stable.... which is saying something since the stock market isnt very stable to begin with
PRetty much.
THe entire concept of NFTs is to buy lot and sell high which is LITTERALLY the motto of the stock market.
BUt unlike the stock market which deals in real companies (ideally) and real products (again ideally) NFTs are entirely intangible and have no real world significance at all.
Seems like they are pyramids schemes as well. As they will always need new player buying into the system for it to continue existing.
Nah the stock market is stable you just suck at investing (crypto is just bad)
@@metazoxan2 Stocks also have actual real value. If you stock in a company, you actually have say and power over that company, depending on how much stock you have. If you have the majority of stock, you can literally tell the company what to do. But more than that, because you have stake in the company, you are actually PROTECTED by law, in case the company fucks you and your stock over. As seen in the news a lot this past month, Twitter's Board are BOUND by law to not screw over Stock Holders, and do everything to make them profits, and will get sued and lose everything if they fuck them over.
NFTs tho, are bound to Crypto currencies, a fake digital currency with no value, no power, no meaning, other than what value people decide it's worth. This is why it always FAILS. 100%. EVERY single one fails. Period. Without exception. Cause all it requires is people to decide. "You know what... I don't want to buy X coin anymore." And that currency instantly becomes worthless. Cause it's tied to nothing but people's belief. That is why, like in this video, the second a majority of people experience 'Fear' of any kind, the currency instantly dies.
Also 99%, literally 99%! 19 out of 20 currencies looked into, were Scams, Fraud, and ways for Rich people to hide money for tax evasions and hide assets from tax audits. Literally EVERY single one, but 1! Why ANYONE would trust, literal 1s and 0s with no value, existing in people's mind and the digital space, as having actual real world value boggles my fucking mind with the shear stupidity and ignorance of idiots that exist across the globe.
im convinced the "fun" and "interactive" coat of paint on most of these projects is just a manipulation to scam the vulnerable, stupid and young out of money they think its fine because its a game
If the Devs had a large chunk of the currency, it is possible that a whale didn't pull the trigger and sell, but actually the developer. They got cold feet when people were analyzing the game and decided to sell to make a profit. That is my theory.
If the code was analysed, that could be found out. Example: Save the Kids. It was found out that there was no anti-whale selling code, meaning a dump was intended. If there was something similar with this situation it would shed light on their intentions
NFT's and Games don't mix Because They don't belong in games at all!
It's rally amazing how quickly this NFT thing blew up and how little any real people give a damn about it. EVeryone I ask either hates them or has no idea they even exist.
BUt so many companies just see dollar sign potential and dove head first into it dreaming of fabulous fortune.
None of them bothered to check if there was a legitimate market for NFTs and just assumed the market would materialize.
Nfts don’t mix well
@@fatduckdays208 to tell you the truth, I hate NFT's so much!
Nfts don’t
don't
The problem with pay to earn games is that playing games simply does not create any value, unlike actual jobs
No bricks get produced
No roads are built
No toilets get scrubbed
ect ect. So the only real way to make money out of these pay to earn games is to have some of the players literally pay the other players for paying.
Imagine signing up for a company to work and the work they added 0 value and all that happens is that each of the 50% youngest workers give 100$ to each of the oldest 50%
That's pretty much what you're doing when you play pay to earn games, you're literally just giving someone money unless you're at the top in case someone is giving you money
Sounds like a roundabout pyramid scheme with extra steps.
@@workemail909 yes. pyramid scheme, ponzi scheme, toulip bouble.
Crypto recembles all 3 to some degree and all 3 schemes work very similarly.
@@iceman7157 Plenty of people profited from Bernie Madoff too because they pulled out before that scam fell apart
I’d say that crytpo and NFT’s most closely resemble a hybrid of a Ponzi scheme and a pump and dump scheme. New people pay into the scheme with actual money, increasing the value of the tokens, and this allows people already in the scheme to cash out and profit. So long as more people are buying in than cashing out at any given time, it keeps making money. But once people start pulling out en masse the value crashes and the last wave of suckers is left holding the bag. Or should I say hodling the bag?
There are alot of online games with strong pay to play mechanics. Loot boxes, battle passes, RMT and power leveling to list just a few. If there is enough demand in a game for currency that itself is the 'bricks produced/toilets scrubbed' analogy for ya. Then you just have to divide the player base into those who are creating this currency through game play, to sell to the whale/$$$investor customer and rinse repeat. Guildwars2 beat RMT by implementing gems that can be purchased with in game earned currency or purchased with real world money directly to the company. It's essentially a virtual currency that has a dollar value that can be earned by doing virtual tasks in a video game. Now if that same game paid real world money out directly to the players (maybe charging a transaction tax to support the game) they would be able to create a pay to earn game for some while still allowing the pay to win/play aspect the rest enjoy. MMOs are the easiest example because they function in game very similarly to a business in that you are managing so many things and investing currency/time etc.
An NFT game?
More like "No Fucking Thanks, I'll stick to genshin impact and waste my money there".
Imagine NFTs in games. I’m looking at you Ubisoftnuts
@@WickedWiz Ubi"I'mBankruptPLEASEbuyme!"
@@WickedWiz ubisoftnuts💀💀
How many children do you molest a day? Per month? Per year?
@@WickedWiz i always refer to them as U Be Soft because they really make me lose my hard on.
Lol, NFTs absolutely have a shelf life, and this gane shutting down puts it on full display: when the servers that contain the assets linked to the tokens are shut down and the assetd are no longer accessible or usable, the tokens become worthless.
Oi, excuse me, but in Deep Rock Galactic you don't mine asteroids. You mine a planet, you pointy-eared leaf-lover.
You want some?! Put ‘em up! I’ll have you I will!
Imagine the poor crypto doomer guy who lost all his money to this and now gets lured into the 2.0 version of it because the developer said "it's even more predatory now, but bro, believe us, it's gonna be so awesome this time!"
Anytime I hear "play to earn", I just hear "let's take something fun that you do just for the sake of it being fun and turn it into another job". Let fun be fun and let jobs be jobs; they are different and serve different purposes.
Kinda like trying to level up any charcater in Genshin impact it’s like chores you have to do everyday jus for a hope to further in the game
It's worse than that, really, because these games are always doomed. They can't really produce anything useful. In theory they could produce entertainment, but none of them have actually been any fun to play. So the business model is just that of a ponzi scheme: The only way that anyone can get money out is to have new players constantly joining (and thus putting money in), and they all expect to make money too which demands even more new players. It can only function so long as there is continual growth, and endless growth is impossible.
I can't understand how people invest money in something that ultimately has absolutely zero protection and regulation,
practically like someone on the street saying "give me all your money and I'll make you rich".
What guarantees are there that the success rates of the activities of this "game" are actually respected? Zero
people make new ways to scam
Rich peoples
"Pay To Earn" is literally some Black Mirror shit. You work during the day, only to work during your time off work.
The lesson is to never even have the thought of touching NFTs since they're just to scam idiots out of their money. Not saying you're an idiot unless you get scammed and didn't learn your lesson.
I hate NFTs on a rational level, but I've made about $500k off flipping them in the past year.
I came from a background of utter poverty, you best believe I'm going to take advantage of one of the largest redistributions of wealth in our lifetimes, even if I actively dislike the product.
I'm not saying any of this to brag or convince anyone to buy NFTs, in fact you'll probably lose money unless you really do your research. But it is possible, and not everybody loses money, I know I'm in the minority though, and I'm fine with that, it is what it is.
Whenever NFT-related things die and NFT bros cry because they lost a lot of money to that garbage, I gain more power.
I feed off of their suffering. Mhhhm, yes, more!!!!
power is your wealth relative to the mean wealth. while some people lost big, others gained as much, this is all just money moving between other people so how does that change your relative buying power?
Ultimately this is just a tragic loss of efficiency and an unjust transfer of money from the scamed to some scum sucking bottom feeders.
The bottom feeders could have used their skills to make a real game instead, the scamed could have played that game and had some fun, or spent the time looking for a real job, and avoided a shameful loss.
it makes me sad
I'm so surprised that an NFT game was a scam... CRAZY SUBVERSION TO EXPECTATIONS.
Pretty funny, Runescape can't stop people from trading their ingame gold for real life money and these guys can't make it happen with that as their goal
Runescape provides something of value, an enjoyable experience (at least to the players who enjoy that kind of game). Thus its content has an actual value.
Oh god. The workers get “tired”? So its both an NFT scam AND a facebook game?
as someone who's been anti crypto/NFT since day 1; i cant help but laugh to see people fall for this scam. while it is sad how people lose everything thanks to believing in this bullshit, they should've known better and listened to the many warnings about this concept
All the uses of blockchain technology for patenting, completly bulletproof ownership laws, licensing, right to repair, god knows what else.
MONKEY PICTURES. SCAM GAMING. THAT'S WHERE WE ENDED UP RAAAAAAFGGHHHJFGHJ.
I've never met someone who was scammed, who wasn't also stupid; and I don't sympathize with stupid.
shit I like crypto and even I know NFT's are a scam
To me it's rather comical actually
How they see a picture of an ape with a 10k price tag and miss the huge red flags will always be baffling to me.
The the "FUD" concerns were that the devs held all the coin, the "whale" with all the coin sold and decimated it's value, and the devs said they'd cut their losses and walk away. Am I missing something or does this sound like a huge rug pull? I guess it's crypto and someone probably would have been tracked by now, but it sure seems handy that the devs built the coins value, it got sold quickly, they said "oh, the problem is that you all weren't spending enough" (which, as you say, doesn't seem like a solid reason), and can try again. I just wouldn't be surprised at all if in the future that whale in question was found to be involved with those devs. Just speculating of course, but something just seems off.
It is certainly a scam, but there's a nonzero chance that the devs were the marks as well, depending on how their currency was circulating. It is entirely possible someone saw a chance to run a pump and dump scheme under the dev's noses.
It's very unlikely, true, but it's a question of stupidity vs malice.
And either way, don't give these guys any money.
@@watchm4ker didn't certain youtubers and streamers do similar things? They would hardcore promote a new coin, have the price of it skyrocket and sell for a 100x profit and pretty much leaving their viewers with a huge loss because they decided to use it as a way to make quick money? People have to realize at some point that when someone holds most of one certain thing, they have control over it.
@@twiztedmind209 Straightforward pump-and-dump. They're all over the place in the Crypto market, because it doesn't take much demand for the price to skyrocket.
its so easy to run a pump and dump using crypto that it probably happened by accident
@@twiztedmind209 funny how a comment just brought me back to this chain a year later, right after coffee exposed KSI for doing exactly this
Good to know the general consesus is that NFTbros are laughingstocks, my faith in the "gamer" community and humanity has been restored a little
I love that the lesson the devs took from the first failure, assuming it was not caused by them pulling the rug, is that the ecosystem did not encourage adding more money from the outside enough to remain stable. Now, where did I hear about "investment schemes" that are fully dependent on new investors putting more and more money in to keep going... Nope, does not ring a bell, must be perfectly legit model.
To be honest, I can't feel anything but happiness for this "game" death.
What’s crazy is that people who invested in this are calling it a scam yet people don’t realise crypto itself is a scam…
It’s not. It’s just got stability problems.
@@lyokianhitchhiker crypto claims to solve the problem of fiat, that being that its a money based on trust alone and nothing else, by making hyper-fiat that is also dependent on a system that can go down for months with a few snipped wires... at least you can hold onto your fake paper money, but you can't hold your 0s and 1s at all.
all crypto is is an elaborate gambling scheme. watch this stock go up and down, lose your life savings. at least 'real' stocks have insider info, but here it's just the whims of the world lol
@@thepawnmusic Like I said: stability issues does not equal scam.
The big problem with pay to earn model is:
The games aren't fun and people only play them to earn money. But the things you earn can only be used in the game itself. So when people evetually stop playing or move to other crypto games your currency becomes worthless. Or like in this case, if you have a drop in value (which in crypto is quite common even with the successful coins) there is no reason for people to keep playing and your game and currency/nfts are doomed.
It's a downward spiral.
The only way I see this model succeeding long term is:
A. Make a fun game that people want to play regardless of the crypto stuff.
Crypto and nfts are volatile and it's a lot easier to recover from a drop if players stick around and keep playing the game for fun.
B. Strike a deal so your currency has value outside and independent of the game. This may make your game more appealing to people that don't care about Crypto or nfts and at the same time acts as a sort of safety net for the investors even if the game isn't a hit.
B is basically impossible. Whoever you partner with will be wanting to convert their scrip into cash to pay their real-world costs, and that will be on *you* to provide.
Like the Steam marketplace and Team Fortresses Unusual Hat system before the 2013 (2015?) community market crash over buds?
The world of crypto is so funny, full of scammers that say "hey the first time we took your money but give us a second chance this time we will not !"
The virgin nft transactions vs the chad normal microtransactions
fr
Now that's a actual funny reference
Can we just call crypto games Pay to Pay? There is no Play to be found, and Earn would defeat their purpose for the publishers.
Always nice to see DRG getting a little shoutout. Probably the best group of devs alive atm. Regular free content updates that deeply vetted & tested by the community, & some minor cosmetic DLCs along the way to continue funding the team. Not to mention the fact that the game has an obscene amount of cosmetics you can get just from playing, & the game goes 1/2 off for a while with every major update. It quickly became my most played game of all time over the past few years. A large portion of the community buys the cosmetic DLCs just because they actually WANT to support the devs & how fantastic they are. It's a wonderful community.
B is for bot
@@micah5918 it's for Brandon, but I got tired of the horde of, "Let's go Brandon!" replies lmao.
@@thenameless9087 *crying pepe*
@@bbbbbbb51 LETS GO BRANDON
For rock and stone brother
1:22 DID I HEAR A "ROCK & STONE"?!
ROCK & STONE
Damn this is really predatory.
I like how crypto people dont realise why markets are controlled despite facing all the consuquences of uncontrolled markets
Yeah, it's like they are recreating the very beginnings of market economies, with all the teething problems the rest of the world got rid of hundreds of years ago. Many of them claim to hate the traditional money system so much, but they fail to realise they retrace almost the exact same steps.
I love that we've gotten to such a cynical point in capitalism that the response to a scam failing is just "eh, try it again"
if you're loud and insufferable enough, you'll always find new marks
these types prey on the uninformed and lure them in with brash marketing and outlandish, unfounded promises
That's just literally capitalism always. There's a huge likelihood that if you were born in the last 40 years, your childhood will have been impacted by a global recession/financial crisis. Capitalism is inherently based on the systems seen in crypto/nft stuff *because crypto is in essence just a microcosm of unregulated capitalism and therefore shows the inherent traits at a vastly increased speed*
Immediate respect for featuring DRG in your video, my guy. *ROCK AND STONE!!!*
I like this idea of explaining why a game died or will die
I got a Blankos ad on this video
like holy shit imagine trying to get me hooked on your NFT game on a video about a NFT game being terrible or something
I feel like at a certain point you would have so many ships and workers that continuously reinvesting will become a full time job managing all your assets. At a certain point the wales will switch from reinvestment to just management of what they have. Why invest in more ships or workers where if you miss a single day of gameplay your swamped with work assuming your ships and crews to new planets? This floods the market in game of its crypto without any more investment of real world money.
Just bad game design with end game content being tedious as fuck. Making it so the workers and ships expire as their fix makes the end game even more tedious and less profitable. This doesn’t fix the fundamental issue that the game is boring as hell to play as a wale.
I’m new to the channel but just binged the most recent “What went wrong with x” videos and now finishing up this one. Looking forward to supporting this channel. I really needed more to watch
Thank you for the shoutout!🤩
Thank you for the support!
wonder how many people get that name
@@z0ck3r not much!🤣 I whish you a awsome day and night and lovely greetings from austria!❤🇦🇹
Sorry for my bad english!😅
The real thing that killed the token of this game is that it tried to be money for nothing so the only thing that was buoying it was constant infusions of outside cash by new players. There are two ways to actually earn money: Either labor yourself, for someone else or as an independent entrepreneur/freelancer, or own some kind of productive/in demand asset like shares in a company or property for rent. This game calls itself mining, but unlike actual mining, no valuable minerals are being extracted from the ground for sale. Fundamentally, all crypto, as a non-productive asset that doesn't even have a tie to a physical commodity with an actual use, will only continue to be valuable so long as outside cash flows into it. Crypto produces nothing, crypto does nothing, crypto is basically taking stock, which has had issues due to being somewhat abstract for centuries, and completely divorcing it from the productive assets that give stock its backing. It is literally trying to be money for nothing, or arguably even worse, money for wasted energy.
Backed by burning of fossil fuels!
You should watch the show Over the Garden Wall. Not to review, but just to enjoy. It's pretty cool.
"our game relies on investment and re-investment" is just crypto-speak for "we're running a Bigger Fool scam"
Making these games is a really good trick. Just hold a lot of the currency as dev. Wait until it is valuable, sell everything. -> Half the Money from all people in the game is now mine.
I think it needs to be pointed out that this wasn't just a case of bad execution, the concept is fundamentally unworkable. It is not possible to have a play-to-earn game where everyone involved makes a profit in actual currency. You can profit in the in-game currency, but in order to cash out and make that profit real, someone else must buy in for an equal amount, therefore it's always a zero-sum game (except it's actually negative-sum for players, because the developer also takes a cut. In other words, it's a bigger-fool scam). As soon as people stop pouring in investment, the value of the ingame currency will drop to nothing. Since the game doesn't actually produce anything of economic value, there is no reason for that investment to continue in the long run. The NFT bros envision a world where you can make money playing games but they don't understand how economics actually works.
There are play-to-earn systems out there which are sustainable, they follow one of 2 patterns. One model is to get investment from non-players: almost invariably advertisers. There are two problems here. First, advertising is cheap, so to turn a significant profit you need to either exploit other players somehow (MLM-style referral schemes) or cheat (botting). The second problem is that these games have a perverse incentive from the developer to cram as much advertising into the game as possible, so the quality of the game experience is likely to be very low. You're basically just watching ads for less than minimum wage while being distracted with some shitty mobile game.
The one actually decent model I know of is that of poker (or PLEX in EVE), where some players are able to profit because others make a loss. For this to be sustainable, the loss-making players must be willing to keep paying because they enjoy the game, and not because they're trying to make a profit. With this business model it's possible for a successful and sustainable NFT game to appear (though there's no reason at all to use NFTs for this instead of traditional virtual currencies/items), but it has to be a good game first and an investment opportunity second. The odds of that actually happening are tiny in my opinion. It directly conflicts with the stated ideology of NFTbros (everything should be an investment opportunity) and it conflicts even more with the actual ideology of NFTbros (throw together a low-effort project, take the money and run). They are never going to come up with a genuinely good game concept, and then hire a proper game studio to create something of real artistic merit and quality.
Your first two paragraphs were correct but your third was false likely due to your own bias.
@@GeorgeMonet Which part was false? Hard for me to respond if I don't know what you actually disagreed with.
Honestly I don't feel like having an NFT or crypto game makes any sense. Why use a decentralized ledger for a centralized product? Especially a centralized product that is nowhere near as secure as the blockchain. A video game with a crypto economy is like Greece and the Euro: An economy that has no control over its money supply
It's called "pay to earn" instead of "play to earn" because they took the L
The fact that you have DRG as your gameplay background already makes you based
yoooo, you play DRG too?! Fucking love that game.
also, you're mining out Hoxxes IV - not asteroids.
Haha thanks. It’s probably one of my most favourite games to chill with
@@WickedWiz yeah, it's fun af.
Only problem I have is that in DRG you don't mine asteroids, you mine different sectors of one planet: Hoxxes IV
surprise surprise, the crypto game was a scam; who'd've thought.
It really is like a bunch of people invested real money into monopoly money, and then the chief of the monopoly money took the real money and said "see ya, chumps"
I ironically got an ad about a crypto game before this video started lol
The funniest thing about crypto games is that the developers and publishers keep forgetting about the "game" part.
Literally
10:21 Ah yes, The average driller main. Killing a teammate and himself with one C4.
These NFT games make Hunt down the freeman look like a masterpiece.
NFT's are purely a scam, so any game that employs them becomes a scam by extension. NFT's are basically just environmentally hazardous Microtransactions. I have yet to see any actual use of NFTs in a way that ONLY NFTs could do it.
"But you can buy NFTs and have them be cross-game and then you can use them in all your games!" is something I often hear said. No you can't. Games aren't cross compatible like that. Every game would have to be designed with the express purpose to be compatible like that. And then you can as well just not to the NFTs and just transfer your Microtransactions outright. Pokemon doesn't use NFT's and yet I can still use the Blaziken I got in Gen 3 in todays Pokemon games. Cross Compability of games is a thing that needs to be programmed, but it does not need NFTs to work.
Pokemon is actually an excellent example of why the NFT multiverse will never work the way they claim.
There are some pokemon you cannot bring into the newest Pokemon games.
How are they environmentally hazardous
Crypto mining consumes power resources equal to a small country, it's like literally torching the Earth to generate petty cash. The energy requirements are so massive for mining operations that they have to steal the energy or else they don't generate a profit. Tesla stopped accepting Bitcoin because of how environmentally destructive mining is.
@@hansloyalitat9774 bitcoin mining creates carbon emissions
@@weluvkearney5125 wtf how
Fun fact, the workers models are on the unity store, I’ve actually used those exact ones for a project
A less nefarious one, I hope
At first when I saw Deep Rock Galactic i was like "but you do need to invest" but then I realised nah you don't you just spend money and then you have the thing you paid for ... and futur content via updates ...
Played it a while back at a friend's house ! Really fun !
Wish I had it tho :/
But yeah this game is extremelly fun ! (I can't imagine how much more fun it probably is nowadays with the many new update it probably has by now ...)
Molly I miss you :(
I hate it when people say "investing" instead of "speculating"... the first is exanging money for growth, the second is gambling...
Imagine creating a poorly disguised ponzi and then being pissed when someone else takes advantage of it and runs with the money 😂
They really just added an L and thought no one would notice. Plyramid scheme.
Man I sure am glad Deep Rick Galactic didn’t wind up as an pay to earn game.
"people feel scammed"
Well that's probably because they fell for a scam.
This is funnier than it deserves to be
logically i know the nft game you're talking about isnt the game being shown on screen, but subconsciously i keep thinking you're showing footage of the nft game and i keep thinking its not that bad lol
I've been trying to warn everyone from day one: Crypto is a scam 😅
How did any of that Need NFTs? It seems all that could have been done with a standard game server?
You should watch folding ideas's line go up. The whole premise of a pay to earn game is that people put money in and some people earn it out. It is 0 sum and since the game has running costs it will literally infinitely blead money, some players will make money, but for every dollar earned someone has to loose a dollar. If you keep screwing half your player base a game like this will never work.
I think steam marketplace does NFT gaming better than anyone else. The stuff you can buy for a few cents/dollars, then you have the CS:GO marketplace inside of steam marketplace where you can essentially day trade. It just isn't worth anything outside the closed system, and you can't technically "cash out" outside Steam without using sketchy websites.
TF2.
nft are basically just videogame item that are not videogame item but are treated as such and yes I agreee
the screenshots of workers and stuff showed look like theyre ripped from an old ps3 game i used to play called 'dust 514'. cant confirm it for sure but thats just something i noticed.
nfts are literally just manufactured inflation for crypto
Wear and tear isn't the point where NFTs are doomed. NFTs are doomed because they are extremely similar to those real world financial derivatives. Like most of derivatives (which cause 2008 subprime mortgage collapse) they are doomed to fail.
From what I can tell... it was most likely the devs who themselves dumped the game. With their new profits they expanded themselves with the reborn remake, lotto, and brawl systems. Any other dev team that would have made this kind of game and a whale did cashed out won't want to redo it all over again.
In your description of the game i was missing vital part of an economy:
Where does the money come from that you as a "player" are supposed to earn?
In order for you to earn something someone else has to pay for something that you offer, be it a thing, a service or your time.
For example if you play an MMORPG you could farm rare items (with your time and/or skill) that someone else could buy from you.
Or you could farm ingame currency that someone else could buy from you for items or real world money.
In either case the other party gets something that they don't have to put time or effort into getting themselves.
Here you pay eternal to get ships an crew, you pay eternal to send your crew mining.
As reward for mining you get eternal. What is it that someone else would buy here?
If you want to make a living from a game you regularly take money out of the game.
For that to work someone needs to regularly put money into the game that they don't get back.
Why would someone want to pay money into this game?
You hit the nail on the head why the pay-to-earn model is fundamentally broken, at least in its current implementation in these games. What you have is essentially a bunch of producers of goods and services, but no consumers of said goods and services. In such a situation, how could the producers ever make money? What people who believes in the pay-to-earn model seem to not understand is that it's the demand of something that gives it value, not the supply.
The creator is probably the one that sold and move on.
regardless, this sounds just like a pyramid scheme that offers 100% return each month, and once the income cant pay the investor, the creator just vanishes with their money(or moves to their next project)
and as a Gamer standpoint
Whoever bothers with P2E is clearly never played any MMO. If there is money to be earned, there will be gold farmers/ bots.
And even IF the perfect game does exist.
It will be more cost-efficient to outsource the "Player" to 3rd world country player to play against you.
and suddenly you are now Playing 2 Earn less than $1/hr due to oversupply.
Diablo 3 in its early days had an interesting take on the play to earn concept and some people do earn a lot from that game selling gears useless to them. It was eventually removed due to backlash, but it was good while it lasted.
If games implement NFT's, you can instantly tell it's a scam.
Fuck them.
nft=scam 99% of the time
there are also games that pretend to be games and use your computer as a datamine in the background, people with beefy gaming computers report that the game uses all their cpu while not being that heavy itself
This sounds like a pyramid scheme with extra steps
That graph showed 100% a pump and dump scheme coordinated by like 2 or 3 whales. There is no way that the developers didn’t know who that was, and it was likely themselves. That amount of crypto hoarding is insane considering one massive dump was all it took which means players barely owned a percentage of the coins
When the developers can shut down a project, then it is not really decentralized and NFTs make no sense at all.
Those dreadnaught fights went well. ROCK AND STONE!
I love how people still believe NFT is anything but a scam to scam idiots out of their money, and then get offended when they fall for that scam lmao
Basically, what I’m getting at is that you should make an entire game with the intent of it being a gamble but even more time consuming. So if I get this right you spend money to get the things to do it, such as crew and ship, then you start a contract to do said planet, in which case you wait an extended period of time so they can laugh at you for a good while, and then you redeem your reward if you get one. But the reward is a fixed reward rate so no matter if you have the best or worst you still get the same. Gambling with more steps, more wait, and the same reward regardless of investment. What’s not to go apeshit wild over. Casinos give you the worst odds and the highest reward, scratch offs give you meh to bad odds to get meh to amazing rewards, a drink bet gives you unknown odds and the amount you put back in. But notice how these are relatively fast. This game you got to wait, best use of a nft before it was a thing was Csgo skins, couldn’t save image. If you had the skin it was yours, the float could make it more expensive, the stat track could make it more expensive, and the rarity could make it more expensive. But you can sell and buy with out needing to spend a lot of money, and it’s based of the community, and it’s appraisals. So basically we ant to steal valves system, but make it absolutely useless to own. In Csgo your stuff still has some cool factor to it. No one says oooh look at my nft isn’t it sick? If they do don’t be around them for more than 3 minutes they give off radiation and will liquify your Brain.
(TLDR)
Gamble with a scratch off, they haven’t found a way to really copy Csgo skins. stay away from crypto and nft bros they will liquify your brain and make you retarded.
Wait a minute, so you're telling me a project that's based entirely on new users buying in to stay afloat and pay out existing users ultimately dried up when new users and even existing bailed? I've heard of an idea like that before, bonzi...fonzi...man it's right on the tip of my tongue...oh well, surely that's just a coincidence anyways.
1:25 If you dont ROCK AND STONE you aint comin home.
Its not an astroid. Its a Planet called "Hoxxies" btw.
The problem with pay to earn, is that many of these 'tokens' that fail to produce a real world value which would cause this to fail no matter how much faith you have in the system.
I mean... Why would anyone hoping to use cryptocurrency as an actual currency accept game tokens? If the point is that there is no centralized control, why go to a system where the central bank is a shoddily built and poorly disguised casino?
@@watchm4ker agreed! Like the reason stocks rise and fall is because there are real world consequences. The reason bitcoin succeeded was because it introduced artificial scarcity and once the “mines” depleted there is no more. This gives the coin its value and the fact it can be used outside its own system is another reason it has value.
@@gandalftheantlion Close, and certainly important, but the key is that the parameters of the token were set into law within the trading system as a whole, and can only be changed with the consent of the majority of users on the network. That is as impartial a central bank can get under real-world circumstances.
That said, having a hard cap on the amount of currency is a pretty terrible idea. The point of a currency is to trade with it, not to hoard and stockpile it. A currency should grow and shrink with the economy that uses it, and have a stable, relatively constant value.
@@watchm4ker very good point! I agree, I just found bitcoin still having value and even still being traded.
The virgin NFT vs the Chad Bitcoin
I think that the developers just hyped up the system, payed some content creators to create some gameplay footage and then once the level was good they flood the marked with their own supply of tokens "as developers that hold always the majority". So they took a huge profit already. This is the classic ponzi scheme but "game edition"