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Buyers of Bored Ape NFTs sue after digital apes turn out to be bad investment (arstechnica.com)
submitted 3 years ago by to c/technology@lemmy.world
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[–] 1 point 3 years ago (1 child)

Never said it's needed, I said it could be used for it and would lower the amount of effort required on the distributor's side.

They also have no reason to allow people to sell in game items at the moment, yet look at Steam making bank from item sales!

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  • [–] 1 point 3 years ago*

    Yeah and they only make bank because they sit in the middle of the transactions as the trusted third party.

    The only way to possibly make NFTs work for Steam would be for them to also start up a side business of "SteamCoin" currency, because the only way to offload the enormous costs of running a blockchain network at scale is to have miners and nodes running the network for their own gains.

    And even then, they'd lose autonomy over their own business and it would likely be slower in terms of transactions per second for normal customers.

    It's a losing proposition pretty much all around. The only way that an existing company with an adequately equipped IT department would transition to this is if they were forced to by law...and I don't see that happening ever.

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