According to new research, non-fungible tokens may be the latest cryptocurrency epidemic, but Second Life’s virtual economy is much more popular.
Approximately 360,000 individuals own almost all non-fungible tokens (NFTs) available, according to a new report.
As reported by Financial Times, About 80% of the total value associated with NFT-based items is held by only 9% of the community. That’s about 2.7 million unique NFTs held by just 32,400 users, which at first glance looks like an impressive ratio. However, this statistic only considers the unique “wallet” that is linked to the acquired NFT. Users can own multiple wallets, suggesting that the actual number of individuals participating in NFT sales and purchases is even lower than originally expected.
Actual statistics are surprisingly low when compared to other virtual economies that do not utilize blockchain technology. As New World Notes points out, more than 500,000 people own virtual items in popular cult classic games. Second life.. Although the MMO virtual market has been active since 2008, MMOs are widely considered to be a niche title that has failed to penetrate the following mainstream audiences: RuneScape also World of Warcraft..
Statistics show that NFTs haven’t left the niche corner of the Internet yet, but despite the bad publicity surrounding technology, they haven’t prevented companies from supporting the move.Video game publisher Ubisoft has recently been criticized for adding NFTs to Ghost Recon Breakpoint, A decision that seems to have resulted in only 15 sales. Square Enix also announced that it will invest in NFT and blockchain gaming opportunities in 2022, causing massive protests from fans.
The video game industry isn’t the only one trying to break into NFTs. Comic fans were indignant when Stanley’s personal Twitter account, the beloved creator of Marvel Comics, was used to sell The Invincible, the chakra NFT. Hell boy Creator Mike Mignola recently issued a statement that the NFT for his work is floating on the internet, advising fans that the images are unauthorized and unofficial.
In its most basic form, non-fungible tokens are the form of blockchain technology used to validate virtual items. Users will be provided with a serial number that certifies ownership of the in-game item, image, or video so they can be authenticated. Many claim that this technology is the future of digital ownership, while others say tokens are harmful to the environment because of the amount of power needed to generate a single NFT. I am raising concerns.
Source: Financial Times, Via New World Notes
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