<
https://www.techdirt.com/2022/07/21/with-the-hype-bubble-burst-companies-try-comically-hard-to-distance-themselves-from-nfts/>
"There’s surely some utility buried somewhere underneath the monumental piles
of bullshit, hype, and outright scams. But with cryptocurrency values tanking
and the public losing interest, the NFT craze appears to be retreating just as
quickly as it arrived.
That’s bad news for the numerous companies that — after bumbling through the
bureaucratic process of new product approval and design — are only just
releasing their NFTs now. Reddit, for example, last week launched (to the
collective sound of a million yawns) “collectible avatars.” Said avatars are on
the blockchain and most definitely NFTs, but in its announcement Reddit avoids
the word like the plague.
Data clearly indicates that gamers aren’t really interested in NFTs and
blockchain games. That doesn’t seem to matter. It didn’t matter when Ubisoft
jumped into NFTs and was greeted with a response ranging from disgust to total
apathy. And it didn’t matter to GameStop, who thought last week would be the
perfect time to launch a big new NFT marketplace to gain some relevance not
reliant on r/WallStreetBets.
Meanwhile, Sony is planning to launch “digital collectibles” which are “3D
rendered representations of things like figurines of video game characters and
past Sony devices” that will be “ultra rare and hard to obtain.” The company
had to go out of its way to tell the Washington Post these weren’t NFTs, which
pretty much tells you everything you need to know about the state of NFTs:
“It’s definitely not NFTs. Definitely not. You can’t trade them or sell them.
It is not leveraging any blockchain technologies and definitely not NFTs,” Chen
said."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
