Calling it quartz is perfect since quartz is the mineral that surrounds _actually_ valuable shit like gold. So you don't have any gold you just have the package it comes in
There's a theory that somebody or some people at Ubisoft banked on this failing, because the vast majority of employees (like 95 percent) hate this NFT shit and were forced to implement it. So they introduced it to a game nobody plays and nobody is buying or selling them so they can write the whole thing off as a failure rather than a reaction to outrage. Still, I have a real bad feeling about the future of this NFT garbage. I really hope something stops it dead in its tracks.
I think quarz bombing is going to help, but the only thing that can really kill NFTs is a lot of high-profile failures in a row. And they will inevitably fail, because there's no REAL money there. Almost every high-profile NFT sale involved shady backroom dealings, famous people jumping on something they don't understand, or blind, dumb-ass luck. Almost nobody is able to make significant money except by ponzi-scheming other gullible idiots into it, and ponzi schemes by their very nature MUST inevitably collapse.
you would think you wouldn't piss their staff off while two major Chinese Companies (Tencent and Mihoyo) are clearly poaching their workers but i guess they didn;t think about that
@@adams3627 I'd give it a year or two at most. Ponzi schemes only work when everyone is jumping into the same scheme giving it brand recognition. With NFT's however, every single lion jpeg is a new ponzi and the barrier to entry is so low everyone who would invest can just mint their own fresh ponzi.
@@hurrdurrmurrgurr well it's also use to launder money And the CIA admitted to use it for their funding But several nations have already banned it and bit coins So probably still be a thing in the west
@@Dante45p casual reminder that the majority of crime and fraud takes place with cash. All art markets are rife with tax evasion. Same methods apply with NFTs but isn't unique to it. A handful of authoritarian nations have banned it, a handful of emerging nations have accepted it as legal tender. Most are middle of the road to one degree or another.
NFTs are so weird, because unlike other trends (at least in gaming) literally everyone and every company is outraged at it, every attempt at integration has failed. The cryptobros made such a "sweet" scam that corporations are like "hey, a free scam already set up for us to exploit, how could be NOT try"
Yup Hell even loot boxes had at least some defenses when it was implemented right (free new content to everyone instead of DLCs because of them) There's no way where this is defendable even when implemented in the "best" way it can.
NFTs are the new fine art collecting, basically a vehicle for doing all kinds of shady stuff with money so as to keep it out of the governments sight. the thing about NFTs is NFT people liken it to FIAT currency, which is a money system that only has value because it's issued in a limited amount by the government to be used as currency, its not like gold and silver with its value based on the fact that its a rare metal. but what these people don't understand is a government can be held accountable if the currency they issue to you isnt worth what they say it is. that makes the currency backed by something tangible. NFTs aren't backed by shit except their limited quantity. you cant hold the block chain accountable and squeeze it if it deceives you. fine art collecting at least had tangible things (alot of the art was shit) but it was more reasonable than this garbo.
NFTs are like joining the “adopt a highway” program only to get pissed when you learn that other people are still allowed to drive on it. Your name may be on some signage, but that’s about it.
And companies can do this, without having a weird crypto system. Shit, getting your name on a patreon based video is basically the feature set of NFTs but way more honest about ir.
I disagree; I feel like most people joining an adopt a highway program are doing it out of selflessness, not greed. ...Or they get a paid day off from work to be outside instead, which is nice.
I’d never really drawn the parallel to multi-level marketing before with NFT’s but Pat’s super right, it’s a bunch of rich assholes at the top pawning this “you gotta get on this” scheme to collaborating gremlins and then they run off and try and rope innocent people into it as well, all the while pushing the high and mighty “this will help artists!” schtick. But with the semi-recent blowout of Bitcoins and cryptocurrencies a lot more uninformed and vulnerable people are buying into it without much thought, “that bitcoin thing made a lot of people rich not too long ago, what if this is that kind of thing too?”
The fun part is hearing the asinine defences of NFT technology. How if you have an NFT gun and the game shuts down you can take it to a different game and continue using it. As if a developer trying to milk you with NFT's wouldn't have a whitelist forcing people to buy new NFT's every time. And then NFT bros try to get vague describing NFT's as a form of unalterable document on the blockchain, good for making a ledger. Not realising they're just describing smart contracts which don't need NFT's at all.
People have calculated that it took Ubisoft a bit over $700 to mint all of their NFTs. As of this comment being posted, about $500 worth of them have been sold. They haven't made their initial investment back, ignoring development time and marketing costs.
If you're talking about the cost to mint, this is simply proof that most people have no idea what they're talking about when it comes to crypto or NFTs.
Afaik UBISOFT isn't selling anything yet? The NFTs they're minting are being given away as gameplay rewards (including one for SIX HUNDRED HOURS in game), so that $500 is being made by players reselling them to other players.
@@Revan058 okay, so they've made Some Percentage of that $500. Guessing 10% tops, if they care about avoiding inflation? Point is it's worse than "they spent $700 and made $500"
@@CasualCoreK Yeah, basically. Just saying there is a logic to their stupidity, but I'm very happy to see just how badly it's exploding in their faces. Fuck NFTs with a spiked baseball bat.
So in order to buy an NFT in Ghost Reckon you have to spend 600 hours in the game, give all your security numbers and addresses to Ubisoft, and in the end you don't even get that "You got the prize!" that lootboxes give you. ...yeah, even with greedy eyes this doesn't look like it will attract many people
4:55 - Certain people who cause blind seething rage from people who still use Twitter basically spelled this negotiating tactic out in the 1980s yet people think it's new information.
@@KAPTAINmORGANnWo4eva Well depends on how you define scam I guess. Manipulating someone or preying on the inherent ignorance of people is how scams work. Selling the product with any method is the negotiation phase, it's just up to the fish to take the bait.
@@KAPTAINmORGANnWo4eva You're talking to someone who doesn't understand you can still get sick even if you get a vaccine, expect him to not understand some pretty fundamental shit.
The NFT bro looks at the ususual burning captain bison hat in tf2 and dont understand why that is hype but their AI generated ape that they dont even technically own sucks ass
On the other end of the spectrum, Peter Molyneux managed to sell about 50 millions USD of NFT of his yet to be released game. Which seems to indicate how much of a good conman Molyneux still is.
ubisoft: lies about visuals promises offline features then removes them to always online ( for honor ) turns linear singleplayer games to always online multiplayer ( beyond good and evil 2 ) refuse to make a unique singleplayer ip that isn't assasins creed, farcry and watchdogs ( except for immortal fenyx) done awful shit in real life lies all the time forces uplay into there games and locks content behind them refuse to revive franchises and the ones they do turns them into multiplayer now the NFT shit
I don't think they also consider that people play games because of the intrinsic reward and fun, if you take that away and bring in grimy nft Bros, (assuming they learned how to hype their scam).... Uh, people aren't going to have positive associations with your brand and buy off of nostalgia. 🤷♀️ Paul Marketing can't keep getting away with it!!
Crypto gaming will have a lane but it'll probably cater more to mobile gamer types for the most part. It's going to be goofy and ham fisted until there's some clear use cases.
14:02 Pat and I have the opposite reaction I read those posts and laugh so much. The fact that someone took out a second mortgage on their families home to buy these things is hilarious. Rule 1 of Investing: Never invest more than you can afford to lose.
As shitty as NFTs are, I thankfully don’t see this as much more than a passing fad, because the average consumer has no reason to engage with them. Contrast them with other scummy stuff the industry has pushed through. With DLC and microtransactions, you as a layperson have a reason to grumble and fork over your money: more content, more convenience, whatever. NFTs don’t have that, the only use value they hold is that maybe one day you can sell it at a profit to someone else.
I love Pat's sigh at the beginning. I imagine getting into cryptocurrency is too much for these companies so this is the next big thing to exploit and run into the ground.
So between mantis cannibalism, wolf pack hierarchies, and now the boiled frog thing, were there any animal psychology studies that were legitimate? Next, you're going to tell me that crabs don't drag others down when trying to survive inside a bucket!
Pat makes a critical error here. The key to seeing that NFTs are bullshit is not tech-savyness. There are people with brilliant technical literacy who get taken in by this shit. What is required is even a basic groundwork understanding of political economy, which Americans usually have virtually none of. Edit: Or just being familiar with speculation-based scams, like Pat's dad apparently is (and Pat himself, of course)
-Law hardens against the use of fine art as a money laundering vehicle. Almost zero seconds later: -NFT gets pushed on social media platforms. Just a coincidence I'm sure.
The IRS can take your computer, they can force anyone you trade crypto through to give them whatever credentials of yours that you have, or they can find out how much crypto you have and decide you owe the government dollars based on that amount. You’d have to convert crypto not linked to a bank account into money in a bank account in a foreign country then launder it back into the US through other means. Possible but difficult
Literally the only people who continue to convince me that capitalism is bad are people who are doing everything in their power to explain to me why capitalism is good.
When I, someone who'd objectively benefit from a decentralised and anonymous currency/payment system in a myriad of ways, am calling out crypto/NFT's as being a dead-end, then yeah, kinda says it all. I could sit here and spend maybe a few minutes discussing the merits of a decentralised currency not subject to the 'moral' whims of MPP's, or the power-grabbing proclivities of the State, but NFT's? Good luck with that.
There's also the little matter that web3-adjacent stuff is rarely anonymous in practice and, in fact, may even put your personal info at even more risk
i have a relative who had been all in on crypto since he learned about it. he kept showing me graphs of his chosen coin increasing in value and trying to get me to buy in too. then a big celeb bought into to it and my relative basically said "hey this celeb has invested in this. this is your last chance to get in on it before it skyrockets." and i responded with "you know whats more profitable than long term investing in this coin? buying into a coin and waiting for my celebrity profile to jack up the value of it as a thousand other investors try to get in on it at the right time and once that huge spike starts to taper off i dump all of the coin for a large profit margin. its called "pump and dump"" he didn't believe me but sure enough....
People who think the gub’mint can’t go after crypto clearly don’t know about the Commerce Clause of the Constitution, which explicitly gives Congress authority to fuck with Commerce however they want. They also clearly haven’t heard of the Proper and Necessary Clause either, which says Congress can basically do anything if they can give a reasonable justification for it first.
So we would it be fair to say that right now we have people trying to get the ball rolling? Nft bro's have to start the chain by selling you thier garbage using block chain. Didn't know everyone in the chain gets a cut.
This is why I think lots of people get nfts and crypto fucked up. Legitamate artists can create and digitally sell content (music, art, gifs, film,books etc.) that can be resold and receive royalties in perpetuity. No, they don't all just have to be receipts to a url link that can be modified. That's only some very specific and early contracts that there are already alternatives to and more are being built. No middlemen, no record label, no publisher etc it's a massive improvement in resource efficiency to pipeline direct from creator to consumer. I understand the cynicism and it's completely warranted. But there's also a significant amount of power that swings much heavier in favor of users and creators than it does suits.
@@bangarang3810 And that power is also destroying the environment. And a lot of those artists are actually having their shit stolen by NFT cryptofools.
From a technical standpoint, NFTs seemed kinda interesting, but so much *_ABSOLUTE CRAP_* has been just thrown at it (or NFTs have been thrown at so much crap Vice versa) that it’s really hard to take it seriously
"Blah blah blah, blockchain something or other, yeah so you own a JPEG but not really. How much? Oh about 200k. Trust me it's worth it. Why would I scam you"
Lol, i still dont even buy most microtransactions and wait well past launch for discounts. None of the corpo nonsense of the past decade has ever done anything then bounce personally, no idea what chumps keep falling for these scams. Just stop playing AAA's gamings nonsense, this shit would have died years ago. Or keep getting ripped off i guess xp.
I've asked this question many times. From what I gathered, it's a receipt that you "own" this piece of art. There is somehow a way to make money off of NFT stuff.
Non fungible token. Cryptographically secured one of one contract that can be programmed to be anything. A receipt. Form of identity. A contract. Concert ticket etc
It's a manufactured way to bilk people out of money. All it really is is an entry on a database saying "you own this particular digital thing". There's no limit; everyone can start their own, of whatever items they want. The only thing that gives the things value at all is people thinking the things will be worth more in the future, which basically requires people to constantly be buying into it more and more. That's it. Once people realize it's all bullshit it collapses in an instant. (Or the prices get insane and rich people start using it to dodge taxes and launder money.)
Non fungible token. Its a piece of unique data on a digital ledger. You can think of it similarly to putting a serial number on something and therefore making it unique. Sometimes what will make something unique is that it just has different pattern or coloring. Its a broad term.
I honestly dont get the blowback for NFTs in general (besides the Ubisoft case). I just want something akin to the steam market place where I can buy and sell my gun skins or whatever
No matter how we all feel about this in 10 year its gonna be the norm just like microtransactions and dlc 10 years ago was really different and annoying and weird.
@@LieseFury I mean... You just said the term ponzi scheme. Enough people continuing to be born and raised around this and not be taught why it is dumb and predatory will be the new norm and keep it alive. Like modern art being a money laundering scheme. There is always new idiots to take advantage of.
@@bangarang3810 These are horrible comparisons. Mobile gaming is a natural continuation of handheld gaming, and problems with it are not inherent to it. NFTs are a scam, and problems with it ARE inherent to it.
Cosmetic(and not so cosmetic) DLCs/lootboxes are not the same as NFTs, even if both deal in digital sales and pray on similar aspects of consumer habits, few are buying MannCo. Box keys in the hopes of turning a profit by selling the loot inside the MannCo. Box...
Ubisoft quartz minting cost is fake news guys. The exorbitant fees are only really on the ethereum network. Ubisoft partnered with tezos, different blockchain, would cost a fee cents, max to mint.
@@cattibingo that isn't what they said at all. for all i care he's he stupidest person on the planet and eats babies, i don't know. but you're puppeting his statement as the most possible extreme. that's just disingenuous.
Just because 95% of the NFT market is a speculative bubble, doesn't mean the technology is a scam. Housing is a bubble, but the ledgers that say you own your home are very important. Also, gotta love Pat acting like the government taxing the value of crypto is the same as the government printing trillions in debt owed by the average taxpayer to bail out the worst people in the country.
Some stuff I agree with what you said some stuff your just wrong on or I think just uninformed and just cynical just like crypto once NFT gets normalized and it will no one will care a dev somewhere is gonna make something so simple and streamlined with NFT it’s gonna takeoff but this is America get it any way can can hail capitalism I don’t blame anyone.
The problem is that crypto and NTFs in general have no tangible benefits for video game consumers and many of them fuck the environment in the process of not benefitting anyone except the publishers. They already get away with such egregious bullshit with microtransactions, it's pure greed plain and simple. If anything I would expect anyone that actually gives a shit about crypto to rail against big corporations bastardizing the technology the way they inevitably will try to.
Calling it quartz is perfect since quartz is the mineral that surrounds _actually_ valuable shit like gold. So you don't have any gold you just have the package it comes in
If only it was called Pyrite.
Quartz is super useful tho.
@@charleswisconsin9196 not in Minecraft
Kinda like Quark discovering his latinum bars are just empty worthless packets of gold.
You can farm quartz, in a big hot tank of baking soda
I just can't wait to right click and save Ubisoft as a jpeg
Or a png, if you’re Naughty (dog).
Needs putting straight in the recycle bin
There's a theory that somebody or some people at Ubisoft banked on this failing, because the vast majority of employees (like 95 percent) hate this NFT shit and were forced to implement it. So they introduced it to a game nobody plays and nobody is buying or selling them so they can write the whole thing off as a failure rather than a reaction to outrage.
Still, I have a real bad feeling about the future of this NFT garbage. I really hope something stops it dead in its tracks.
I think quarz bombing is going to help, but the only thing that can really kill NFTs is a lot of high-profile failures in a row. And they will inevitably fail, because there's no REAL money there. Almost every high-profile NFT sale involved shady backroom dealings, famous people jumping on something they don't understand, or blind, dumb-ass luck. Almost nobody is able to make significant money except by ponzi-scheming other gullible idiots into it, and ponzi schemes by their very nature MUST inevitably collapse.
you would think you wouldn't piss their staff off while two major Chinese Companies (Tencent and Mihoyo) are clearly poaching their workers
but i guess they didn;t think about that
@@adams3627 I'd give it a year or two at most. Ponzi schemes only work when everyone is jumping into the same scheme giving it brand recognition. With NFT's however, every single lion jpeg is a new ponzi and the barrier to entry is so low everyone who would invest can just mint their own fresh ponzi.
@@hurrdurrmurrgurr well it's also use to launder money
And the CIA admitted to use it for their funding
But several nations have already banned it and bit coins
So probably still be a thing in the west
@@Dante45p casual reminder that the majority of crime and fraud takes place with cash.
All art markets are rife with tax evasion. Same methods apply with NFTs but isn't unique to it.
A handful of authoritarian nations have banned it, a handful of emerging nations have accepted it as legal tender. Most are middle of the road to one degree or another.
NFTs are so weird, because unlike other trends (at least in gaming) literally everyone and every company is outraged at it, every attempt at integration has failed.
The cryptobros made such a "sweet" scam that corporations are like "hey, a free scam already set up for us to exploit, how could be NOT try"
Yup
Hell even loot boxes had at least some defenses when it was implemented right (free new content to everyone instead of DLCs because of them)
There's no way where this is defendable even when implemented in the "best" way it can.
NFTs are the new fine art collecting, basically a vehicle for doing all kinds of shady stuff with money so as to keep it out of the governments sight.
the thing about NFTs is NFT people liken it to FIAT currency, which is a money system that only has value because it's issued in a limited amount by the government to be used as currency, its not like gold and silver with its value based on the fact that its a rare metal. but what these people don't understand is a government can be held accountable if the currency they issue to you isnt worth what they say it is. that makes the currency backed by something tangible. NFTs aren't backed by shit except their limited quantity. you cant hold the block chain accountable and squeeze it if it deceives you. fine art collecting at least had tangible things (alot of the art was shit) but it was more reasonable than this garbo.
NFTs are like joining the “adopt a highway” program only to get pissed when you learn that other people are still allowed to drive on it. Your name may be on some signage, but that’s about it.
or when they sell people a piece of Mars.
And companies can do this, without having a weird crypto system.
Shit, getting your name on a patreon based video is basically the feature set of NFTs but way more honest about ir.
I disagree; I feel like most people joining an adopt a highway program are doing it out of selflessness, not greed.
...Or they get a paid day off from work to be outside instead, which is nice.
people "adopt" highways to clean them of litter tossed by those drivers.
I forgot Pat said "they essentially paid money to recieve bad press" jfc.. so on point. Someone actually thought Quartz was profitable.
A 3ft long cvs receipt would probably be the ultimate nft
Even the Joker fears the IRS
It's 2022 and DJ Woolie is rallying the skaters to bring down the dastardly Ubikaku group
Happy Holidays
I’d never really drawn the parallel to multi-level marketing before with NFT’s but Pat’s super right, it’s a bunch of rich assholes at the top pawning this “you gotta get on this” scheme to collaborating gremlins and then they run off and try and rope innocent people into it as well, all the while pushing the high and mighty “this will help artists!” schtick.
But with the semi-recent blowout of Bitcoins and cryptocurrencies a lot more uninformed and vulnerable people are buying into it without much thought, “that bitcoin thing made a lot of people rich not too long ago, what if this is that kind of thing too?”
The fun part is hearing the asinine defences of NFT technology. How if you have an NFT gun and the game shuts down you can take it to a different game and continue using it. As if a developer trying to milk you with NFT's wouldn't have a whitelist forcing people to buy new NFT's every time. And then NFT bros try to get vague describing NFT's as a form of unalterable document on the blockchain, good for making a ledger. Not realising they're just describing smart contracts which don't need NFT's at all.
Man I could pay a furry to make an NFT monkey and it'd actually look good and be uncomfortably sexy for like, probably less than $100.
The fact they haven’t jumped into NFTs should be a sign
Furry artist*
Big difference
Outrage marketing doesn’t work this way Ubisoft
People have calculated that it took Ubisoft a bit over $700 to mint all of their NFTs. As of this comment being posted, about $500 worth of them have been sold. They haven't made their initial investment back, ignoring development time and marketing costs.
If you're talking about the cost to mint, this is simply proof that most people have no idea what they're talking about when it comes to crypto or NFTs.
Afaik UBISOFT isn't selling anything yet? The NFTs they're minting are being given away as gameplay rewards (including one for SIX HUNDRED HOURS in game), so that $500 is being made by players reselling them to other players.
@@CasualCoreK Due to how NFTs work, the person who mints it gets a percentage of every transaction. This percentage depends on the minter.
@@Revan058 okay, so they've made Some Percentage of that $500. Guessing 10% tops, if they care about avoiding inflation? Point is it's worse than "they spent $700 and made $500"
@@CasualCoreK Yeah, basically. Just saying there is a logic to their stupidity, but I'm very happy to see just how badly it's exploding in their faces.
Fuck NFTs with a spiked baseball bat.
NFT = Pyramid Scheme. That is the clearest definition I can give.
what do you mean the only value of it is reselling to another sucker???
Even worse. It's a cult.
@Simple Barghest Also people needing to reassure themselves that there is in fact value to what they're doing.
So in order to buy an NFT in Ghost Reckon you have to spend 600 hours in the game, give all your security numbers and addresses to Ubisoft, and in the end you don't even get that "You got the prize!" that lootboxes give you.
...yeah, even with greedy eyes this doesn't look like it will attract many people
4:55 - Certain people who cause blind seething rage from people who still use Twitter basically spelled this negotiating tactic out in the 1980s yet people think it's new information.
New to them mate. 50 years ago and schools aren't teaching this to keep the scams going.
@@RavenCloak13 Negotiation isn't inherently a scam though. It's just a part of transacting in some industries.
@@KAPTAINmORGANnWo4eva
Well depends on how you define scam I guess. Manipulating someone or preying on the inherent ignorance of people is how scams work. Selling the product with any method is the negotiation phase, it's just up to the fish to take the bait.
@@RavenCloak13 Yes, all scam artists use negotiating techniques but not all negotiators are scam artists.
@@KAPTAINmORGANnWo4eva You're talking to someone who doesn't understand you can still get sick even if you get a vaccine, expect him to not understand some pretty fundamental shit.
I like that everyone is trying their hardest with this NFT shit when valve kind of has a trading system that works.
I saw someone essentially just re-create the steam market on twitter yesterday.
The NFT bro looks at the ususual burning captain bison hat in tf2 and dont understand why that is hype but their AI generated ape that they dont even technically own sucks ass
@@xLittlebigQuebecx I'll take the hat over the monkey anyday
On the other end of the spectrum, Peter Molyneux managed to sell about 50 millions USD of NFT of his yet to be released game. Which seems to indicate how much of a good conman Molyneux still is.
Or how dumb some of his fanbase is.
@@IstasPumaNevada or those crypto fanatics.
I want to create time travel so i can go back in time and give brain damage to everyone who tries to start the NFT movement
I think they beat you to it themselves.
How do we know you weren't successful, and it is in fact this brain damage that gave rise to NFTs...?!
@@Revan058 damn...
@@IstasPumaNevada my gift of brain damage would hopefully make them incapable of movement
This episode of The Twilight Zone sucks
ubisoft:
lies about visuals
promises offline features then removes them to always online ( for honor )
turns linear singleplayer games to always online multiplayer ( beyond good and evil 2 )
refuse to make a unique singleplayer ip that isn't assasins creed, farcry and watchdogs ( except for immortal fenyx)
done awful shit in real life
lies all the time
forces uplay into there games and locks content behind them
refuse to revive franchises and the ones they do turns them into multiplayer
now the NFT shit
Wait, did Beyond Good and Evil 2 come out? Last I heard of that game was E3 2018.
Merry Christmas everyone!
I don't think they also consider that people play games because of the intrinsic reward and fun, if you take that away and bring in grimy nft Bros, (assuming they learned how to hype their scam).... Uh, people aren't going to have positive associations with your brand and buy off of nostalgia. 🤷♀️ Paul Marketing can't keep getting away with it!!
Crypto gaming will have a lane but it'll probably cater more to mobile gamer types for the most part.
It's going to be goofy and ham fisted until there's some clear use cases.
You seem to forget grinding in games is a thing, and some companies take advantage of that, so I dont know.
@@leithaziz2716 ok. 🤷♀️
14:02 Pat and I have the opposite reaction I read those posts and laugh so much. The fact that someone took out a second mortgage on their families home to buy these things is hilarious.
Rule 1 of Investing: Never invest more than you can afford to lose.
As shitty as NFTs are, I thankfully don’t see this as much more than a passing fad, because the average consumer has no reason to engage with them. Contrast them with other scummy stuff the industry has pushed through. With DLC and microtransactions, you as a layperson have a reason to grumble and fork over your money: more content, more convenience, whatever. NFTs don’t have that, the only use value they hold is that maybe one day you can sell it at a profit to someone else.
I sure hope you're right, and the sooner the better.
I love Pat's sigh at the beginning.
I imagine getting into cryptocurrency is too much for these companies so this is the next big thing to exploit and run into the ground.
They don't have anything new to bring to crypto, but NFTs give them a way to sell "their thing".
I honestly think I'd at least be slightly more sympathetic with NFT bros if 99% of NFTs weren't the most agregious pieces of "art" I'd ever seen.
Pyramid scheme time
I fucking hate the frog metaphor, it isn't even true. That only happened after the frogs had been lobotomized first.
So between mantis cannibalism, wolf pack hierarchies, and now the boiled frog thing, were there any animal psychology studies that were legitimate? Next, you're going to tell me that crabs don't drag others down when trying to survive inside a bucket!
@@buckmoonmedia5113 lemmings won't just follow others over cliffs. Disney pushed them.
those tax havens sure aren't gonna last
any moment now...
Pat makes a critical error here. The key to seeing that NFTs are bullshit is not tech-savyness. There are people with brilliant technical literacy who get taken in by this shit. What is required is even a basic groundwork understanding of political economy, which Americans usually have virtually none of.
Edit: Or just being familiar with speculation-based scams, like Pat's dad apparently is (and Pat himself, of course)
Karl jobst's video on the retro game market is good for learning about that stuff
great. another one just using this as an opportunity to go "haha america bad"
@@charleswisconsin9196 cry about it dude
So you're telling me I can sell my grocery receipts to techbros?
-Law hardens against the use of fine art as a money laundering vehicle.
Almost zero seconds later:
-NFT gets pushed on social media platforms.
Just a coincidence I'm sure.
Pat's exhausted sigh as soon as he hears NFT is a mood.
1:28 I think this is what some people think Woolie is doing when he tries to explain why he made a mistake.
Man, people should just learn to pay with their souls like in dark souls universe XD
I like how South Park explained NFTs to me.
10:38 is such a perfect way to describe it
The IRS can take your computer, they can force anyone you trade crypto through to give them whatever credentials of yours that you have, or they can find out how much crypto you have and decide you owe the government dollars based on that amount. You’d have to convert crypto not linked to a bank account into money in a bank account in a foreign country then launder it back into the US through other means. Possible but difficult
Literally the only people who continue to convince me that capitalism is bad are people who are doing everything in their power to explain to me why capitalism is good.
what about the people trying to convince you it's bad? do they convince you it's good? perhaps you just like being a "that guy"
When I, someone who'd objectively benefit from a decentralised and anonymous currency/payment system in a myriad of ways, am calling out crypto/NFT's as being a dead-end, then yeah, kinda says it all.
I could sit here and spend maybe a few minutes discussing the merits of a decentralised currency not subject to the 'moral' whims of MPP's, or the power-grabbing proclivities of the State, but NFT's? Good luck with that.
There's also the little matter that web3-adjacent stuff is rarely anonymous in practice and, in fact, may even put your personal info at even more risk
You know, I heard hentai artist have made hentai NFT's. At the very least those people made something pretty to look at as a receipt.
i have a relative who had been all in on crypto since he learned about it. he kept showing me graphs of his chosen coin increasing in value and trying to get me to buy in too. then a big celeb bought into to it and my relative basically said "hey this celeb has invested in this. this is your last chance to get in on it before it skyrockets." and i responded with "you know whats more profitable than long term investing in this coin? buying into a coin and waiting for my celebrity profile to jack up the value of it as a thousand other investors try to get in on it at the right time and once that huge spike starts to taper off i dump all of the coin for a large profit margin. its called "pump and dump""
he didn't believe me but sure enough....
Woolie should explain what benefits he sees in decentralised currencies.
People who think the gub’mint can’t go after crypto clearly don’t know about the Commerce Clause of the Constitution, which explicitly gives Congress authority to fuck with Commerce however they want. They also clearly haven’t heard of the Proper and Necessary Clause either, which says Congress can basically do anything if they can give a reasonable justification for it first.
tax's existed before money
Easy. Not spending my money on games with NFTs.
So we would it be fair to say that right now we have people trying to get the ball rolling? Nft bro's have to start the chain by selling you thier garbage using block chain.
Didn't know everyone in the chain gets a cut.
That's probably why they keep stealing the art to put on the blockchain so they dont have to share a cut with anyone else.
This is why I think lots of people get nfts and crypto fucked up.
Legitamate artists can create and digitally sell content (music, art, gifs, film,books etc.) that can be resold and receive royalties in perpetuity.
No, they don't all just have to be receipts to a url link that can be modified. That's only some very specific and early contracts that there are already alternatives to and more are being built.
No middlemen, no record label, no publisher etc it's a massive improvement in resource efficiency to pipeline direct from creator to consumer.
I understand the cynicism and it's completely warranted. But there's also a significant amount of power that swings much heavier in favor of users and creators than it does suits.
@@bangarang3810 And that power is also destroying the environment. And a lot of those artists are actually having their shit stolen by NFT cryptofools.
@@GreekJR2 nothing you're describing is a unique criticism to crypto.
Y'all don't realize not all crypto uses a lot of energy.
Tezos is extremely energy efficient.
That's who Ubisoft partnered with, not ethereum.
Don't worry it's priced in
I’m still waiting for the dark timeline of a NFT TCG GATCHA game
Thats what TCGs are
From a technical standpoint, NFTs seemed kinda interesting, but so much *_ABSOLUTE CRAP_* has been just thrown at it (or NFTs have been thrown at so much crap Vice versa) that it’s really hard to take it seriously
do they really have to remake the game from scratch, I don't really know what I'm talking about but can't you just recompile the code?
Trade offer: I get NFTsplain, You take Mansplain away. I think it's a good deal.
> Wolf Game
YOU MEAN THAT FUGGIN DINGLERUMPUS FANGAME
i beleive that this is all a stunt to make people less pissed about micro transactions
"Blah blah blah, blockchain something or other, yeah so you own a JPEG but not really. How much? Oh about 200k. Trust me it's worth it. Why would I scam you"
Isn't this type of scam where the phrase "I was sold a bill of goods" comes from?
Lol, i still dont even buy most microtransactions and wait well past launch for discounts. None of the corpo nonsense of the past decade has ever done anything then bounce personally, no idea what chumps keep falling for these scams.
Just stop playing AAA's gamings nonsense, this shit would have died years ago.
Or keep getting ripped off i guess xp.
"But mah graphics!" Shit is really kinda sad.
I still don't know what an NFT even is.
I've asked this question many times. From what I gathered, it's a receipt that you "own" this piece of art. There is somehow a way to make money off of NFT stuff.
Non fungible token.
Cryptographically secured one of one contract that can be programmed to be anything. A receipt. Form of identity. A contract. Concert ticket etc
It's a manufactured way to bilk people out of money.
All it really is is an entry on a database saying "you own this particular digital thing". There's no limit; everyone can start their own, of whatever items they want.
The only thing that gives the things value at all is people thinking the things will be worth more in the future, which basically requires people to constantly be buying into it more and more. That's it. Once people realize it's all bullshit it collapses in an instant. (Or the prices get insane and rich people start using it to dodge taxes and launder money.)
@@IstasPumaNevada only part that's legit is the database entry.
The rest is all strawman.
i don't know what a "N.F.T." is, but the fact is abbreviated as "N.F.T." sounds shady.
Non fungible token. Its a piece of unique data on a digital ledger. You can think of it similarly to putting a serial number on something and therefore making it unique. Sometimes what will make something unique is that it just has different pattern or coloring. Its a broad term.
@@93msimpson so it is a scam
I honestly dont get the blowback for NFTs in general (besides the Ubisoft case). I just want something akin to the steam market place where I can buy and sell my gun skins or whatever
Noice
I'm right clickinnnnnnng ahhhh
Ubisoft sullied Tom Clancy legacy
I love nfts and people who dont understand them.
No matter how we all feel about this in 10 year its gonna be the norm just like microtransactions and dlc 10 years ago was really different and annoying and weird.
crypto shit is not going to last another 10 years lol
it's a ponzi scheme and everyone who's gullible enough to buy in has already bought in
If NFTs become the norm, then reason is dead.
@@LieseFury
I mean... You just said the term ponzi scheme. Enough people continuing to be born and raised around this and not be taught why it is dumb and predatory will be the new norm and keep it alive. Like modern art being a money laundering scheme.
There is always new idiots to take advantage of.
Mobile gaming, digital gaming.
People rallied against it, begrudgingly accepted it and now it's normal.
You guys will do the same with crypto.
@@bangarang3810 These are horrible comparisons. Mobile gaming is a natural continuation of handheld gaming, and problems with it are not inherent to it. NFTs are a scam, and problems with it ARE inherent to it.
Steams been dealing in NFTs for years with CS:GO and Team fortress 2 for years
Cosmetic(and not so cosmetic) DLCs/lootboxes are not the same as NFTs, even if both deal in digital sales and pray on similar aspects of consumer habits, few are buying MannCo. Box keys in the hopes of turning a profit by selling the loot inside the MannCo. Box...
Yeah, that's an inaccurate statement, Leech.
Ubisoft quartz minting cost is fake news guys.
The exorbitant fees are only really on the ethereum network.
Ubisoft partnered with tezos, different blockchain, would cost a fee cents, max to mint.
Come on guys your humanity is safe in the blockchain
🤮 no I will not link the Blockchain lolll
@@cattibingo yes good luck trusting your government.
Ask Lebanon and Venezuela how their currencies are working out for them
@@cattibingo that isn't what they said at all. for all i care he's he stupidest person on the planet and eats babies, i don't know. but you're puppeting his statement as the most possible extreme. that's just disingenuous.
Bro just pull out now and stop trying to spread the scam
Just because 95% of the NFT market is a speculative bubble, doesn't mean the technology is a scam. Housing is a bubble, but the ledgers that say you own your home are very important. Also, gotta love Pat acting like the government taxing the value of crypto is the same as the government printing trillions in debt owed by the average taxpayer to bail out the worst people in the country.
Some stuff I agree with what you said some stuff your just wrong on or I think just uninformed and just cynical just like crypto once NFT gets normalized and it will no one will care a dev somewhere is gonna make something so simple and streamlined with NFT it’s gonna takeoff but this is America get it any way can can hail capitalism I don’t blame anyone.
No
@@fartface8918 that’s fair I don’t expect everyone to agree in the end the market will decide like always
I don't think NFT's are worth it. They don't add anything to the experience and only hurts nature along the way.
@@MasterJazz09
Well, less the market deciding and more the established companies just continuing to do it till it's the norm.
The problem is that crypto and NTFs in general have no tangible benefits for video game consumers and many of them fuck the environment in the process of not benefitting anyone except the publishers. They already get away with such egregious bullshit with microtransactions, it's pure greed plain and simple. If anything I would expect anyone that actually gives a shit about crypto to rail against big corporations bastardizing the technology the way they inevitably will try to.