NFT games promise easy money but are as risky as the day business; understood – 02/18/2022 – Tec

Amid the popularity of NFTs, games that use cryptocurrencies in their virtual markets have increased significantly. Play-to-get games like the promise of easy money, but they end up like a low-paying type of work, according to experts.

In order to participate in many of these games, the user must first interact with the interface with a digital wallet and purchase NFT. The difference is that cryptoassets will not have to wait for the customer on OpenSea, a platform specifically for trading non-fungible tokens.

Digital authenticity certifications, also known as NFT games, or cryptogames, have advantages. They represent characters, equipment, or capabilities that allow the user to make a real game.

But when in the air games players are rewarded with virtual coins that only benefit them in the ecosystem they come from, in the game-to-get game What the user gets when doing certain games is a token.

The term is used to refer to assets that work on the blockchain, such as bitcoin and ethereum. The difference between a token and a virtual currency game is that it can be converted into similar currencies, such as real money and dollar denominations, based on daily value.

This means that the gifts that were previously intended only for modification and improvement, as in popular games such as League of Legends and World of Warcraft, are also a legacy. in the cryptocurrency market.

In the case of Axie Infinity, an NFT game that has 2.8 million daily players, the token is SLP (Smooth Love Potion), whose price is rising in mid-2021. According to the official website, the first Vietnamese game has generated US $ 3.6 billion (R $ 18.5 billion) since its inception.

Axie Infinity’s gameplay included using NFTs in the first place – now represented by cute animals with their own characters – for battle against the computer or other players, as in the Pokémon franchise.

It is by winning battles and completing daily tournaments that the player earns SLPs, which are not only used to improve the Axies team and to support future battles. later, but also changed to reais.

But whoever pays the user with tokens is not Sky Mavis, a developer based in Ho Chi Mihn City, Vietnam. Just like in apps like Uber, the game works perfectly between its users and the market, with its costs and policies. The market, in the case of Axie Infinity, is a crypto-asset.

NFT industry standards are usually developed by experts to be specific. It is on the basis of this trust, also supported by the cryptography of blockchains, that SLP is valuable, like bitcoin itself.

“What the size of the blockchain and cryptocurrency’s doing is to support virtual markets, with traders guaranteeing the structure, functionality and balance of those terms” explains Thiago Falcão, professor of Digital Media at UFPB (Federal University of Paraíba).

While the promise of earning more money from mobile or desktop games appeals to users of various profiles, from teens to financial experts, tokens are a treasure trove. very much that needs to be accomplished in the market. It seems as if, instead of the employee getting his salary in reais, he gets it in the goods.

“The most appropriate diet of these games requires players to access the culture of cryptocurrencies, to understand the exchange rate, buy and sell. It is introduction to modern trading, for the stock market “, said Falcão. “You can play in an unbelievable way, but you’ll not go anywhere.”

The first cost issue of play-to-get play has led to a number of working relationships. In “scholarships” (or “escolinhas”, as they are called in Brazil), the bankers illegally seek users to play for them and, therefore, divide the winnings, its percentage From 30% to 50%.

Entrepreneur Jean Maia met Axie Infinity in November 2021 through Instagram profiles devoted to finance and cryptocurrencies. He started playing after getting a place in a small school, without having to invest out of his pocket.

“We were earning between US $ 150 (R $ 770) and US $ 200 (R $ 1,000) a month, but when I stopped, in January, we were earning US $ 30 (R $ 154)”, That said, that spends two hours a day in the game.

“Today I have two NFTs, one worth US $ 120 (R $ 616) and the other worth US $ 150, stopped, trying to sell, due to low game,” he complained.

Heloísa Passos, CEO of Sp4ce, a Brazilian company specializing in cryptogames, estimates that around 80,000 Brazilians will be playing Axie Infinity by the end of 2021.

In his opinion, the success of the game is due to its structure, which must be right in an environment where few can support themselves in the long run, and where interested people will be tried as protesters.

According to UFPB experts, NFT games have many more incredible functions than video games, because people feel the need to spend as much time on their devices as possible. in search of results that will not come.

“It’s not a fun game. They are not a process designed for fun, but a standardized gamified operation. In NFT games, there is very little of a game, a game. The interest, the content and the context of the game, nothing. That’s in the cryptogames, “he said.

Psychology student Vanessa de Barros is not as lucky as Jean. After spending a few weeks playing at Axie Infinity School, where he earned R $ 70 a week, he borrowed R $ 5,000 from a friend to invest in a personal account.

Vanessa used the money to buy NFTs to start and formed a group of Axies with the confidence that they would have a quick repayment. But, with the cost of SLP and the dollar in recent months, the current account is worth R $ 2,000, with cryptoassets that it can only solve by reducing the price. more.

“I know I will not go anywhere [jogo NFT]. I’m waiting for the SLP to step up and try to get back at least what I have invested, and I do not think it’s worth the stress, “I want to pay more for games than games to get.”

For Passos, the main reason for the decline of SLP in recent months is oversupply and lack of health in the gaming ecosystem, a violation of the developer itself . This means more SLPs end up in the user wallet than holding back in the game.

It is believed that players who intend to pose a risk in one of the cryptogames should be aware of red alert messages, such as the promise of a high return on investment (ROI), without any data. Public document about the project (free form) and dependencies. from access of new players to enjoy of tokens.

“It is important that people, before entering this market, understand how it works, so that they can invest their good money. the game, research needs to be done, “he said.

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