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Every time I hear about this I am reminded of this strategy game I once played in ~2008. It was a strategy game and it promised to pay you money if you were able to capture certain territory. I cannot for the life of me remember it's name though, anyone recall something like this?
I guess it's Entropia Universe now https://en.wikipedia.org/wiki/Entropia_Universe
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It's way more ethical for people across the world, primarily in 3rd world countries, to be able to share in the success of a company via its tokens than just being mined for data so some asshole in San Francisco can be paid 10 million dollars a month in rent.
There is no “success of the company that you can share in”. This is a zero sum game: as long as more people buy tokens to get in the game, then it continue going up, and every one feels like they are getting richer. But anyone selling their tokens is taking money out of the system, from all the players. If everyone sell their tokens, there will be exactly the same amount of money that comes out than that went in, jus…
I'm heavily invested into axie (5 figures), happy to answer any questions.
Just trying to understand the innovation. Is it primarily that game rewards can be exchanged on chain, while the granting of the rewards is still centralized?
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It seems like we are really going fast towards game regulation based on what I saw. Gambling with real fake money for teens in a game designed to be basically a pokemon clone with all ways to keep users engaged? It may not be a ponzi scheme, but if it keeps growing, we will hear about it as a new panic in US.
China has already been aggressively regulating games for the last few years, in part due to how exploitative lootbox/gacha games got over there. The worst of monetized games in the West are already as bad as things were there before regulation if not worse - to a degree, any good guidelines we have here are enforced by Google and Apple for parity with Chinese rules (requirement to publish rates, etc.) Chinese Genshin…
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That isn't much difference. If there is a promise of payments for enrolling others, that is still a subsidy from later to earlier investors.
So any SaaS startup that offers referral fees is now a pyramid scheme?
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People sharing in the success of a new company is not a ponzi scheme. If a company is started from nothing, is providing value, and early adopters are paid with tokens as a way to jump start the business the tokens are simply being used to extract future value into the present. In some cases there's no actual value in the future because the product isn't good, but that doesn't make it a ponzi scheme, just a poor busi…
"Providing value" is doing some serious heavy lifting in that sentence - MLM/Ponzi schemes can definitely argue they "provide value" and its telling that its your metric for not being a con. In a traditional ponzi scheme many people get paid, until the last people are left holding the bag.
> Axie, which is loosely based on the Pokemon franchise, rewards players with tokens for winning battles and completing quests. So I looked for a gameplay video on YT, and it looks very much like a typical free-to-play mobile game. I'm guessing the difference is that you can exchange the in-game currency for actual money? Not sure why you'd need a blockchain if that's the case... Also, are these games actually fun? O…
It's basically just a way to work around regulations. Technically the game doesn't deal with a real currency, but they give fungible tokens that can be relatively easily traded on third party exchanges.
The financial aspect of these games makes zero sense, as is the whole concept of "play to earn" which should be immediately nonsensical for anybody who has a basic understanding of how the economy works.
Yet another terrible, useless, scammy, pyramid-schemy, economically-inept concept brought to you by the cryptocurrency crowd. But hey, any day now it'll all be worth it!
Every time I hear about this I am reminded of this strategy game I once played in ~2008. It was a strategy game and it promised to pay you money if you were able to capture certain territory. I cannot for the life of me remember it's name though, anyone recall something like this?
Project Entropia? I guess it's Entropia Universe now https://en.wikipedia.org/wiki/Entropia_Universe
> Andreessen Horowitz’s cryptocurrency fund made one of its largest investments to date in Sky Mavis, leading a $152m financing that valued the company at $3bn. > Sky Mavis, which takes a 4.5 per cent cut of transactions within the game, has made about $1.2bn of revenues I mean, say what you want about this being a scam, ponzi scheme, etc. That is some real cash. I saw this game popping up on Twitch a few months ago…
> It really makes me reconsider the group-think on hacker news. This is pretty bad when it comes to crypto topics. A lot of the crypto ecosystem is toxic and gross. Schemes, scams, marketing fluff, and meme bro attitudes galore. BUT, if you can bear to pay attention and cut through the noise, there are some pretty incredible innovations occurring in crypto, gaming, and defi. HN is very dismissive on these topics. It…
The HN community is very dismissive, embraces feverishly, doesn't care about, [the rest of the stances] "crypto". There are many diverse opinions in the minds of the commenters here and this type of comment, while I've seen it's like more commonly in recent times, is clearly an erroneous over generalization.
> Axie, which is loosely based on the Pokemon franchise, rewards players with tokens for winning battles and completing quests. So I looked for a gameplay video on YT, and it looks very much like a typical free-to-play mobile game. I'm guessing the difference is that you can exchange the in-game currency for actual money? Not sure why you'd need a blockchain if that's the case... Also, are these games actually fun? O…
Because otherwise nobody would pay any attention to what is obviously just another F2P mobile game?