There is a notion that "hardcore" or "true" gamers despise NFTs and that they will probably hit you on the head with their RGB keyboard if you even tried to explain why "traditional" gaming is an outdated concept that needs to be burned down to the ground.

The truth here is very simple. Gamers don't hate NFTs, they don't understand NFTs and that is why they think they hate them.

The only reason I know this is because I was once a hardcore gamer spending days, weeks and even months doing absolutely nothing apart from playing video games. I feel fairly confident when I say that anyone thinking NFTs will somehow ruin gaming has no clue what they are talking about.

The Problem

Account ownership seems so simple and straightforward but over the years the meaning of this term has fluctuated wildly. When online gaming took off the norm was that you had a separate account for every game. It seemed like you own the account but it was always tied to an email address and if that gets compromised so does your account.

Over the years the gaming industry perfected convenience and instead of every game being a separate product we now have platforms like Steam and Origin that serve as gaming aggregators. One account to rule them all but again, a compromised email compromises every single game on the aggregator of your choice.

At the end of the day your account is as secure as your email password and one could argue that the same applies to blockchain gaming, but does it?

I recently had the fortune to be a target of a hacking spree in which I lost a Metamask wallet and an old Hive account both of which contained a significant amount of assets ranging from different cryptocurrencies to in-game assets such as Splinerlands cards. The aftermath of this hacking spree isn't a total disaster as it would be if my email was compromised. Let me explain why.

The Solution

Blockchain wallets are easy to create but impossible to access without the mnemonic phrase that provides access to assets belonging to that wallet. As opposed to email addresses, your mnemonic phrase isn't stored anywhere. It's not sitting on a Google server waiting to be discovered by a bad actor. It is your responsibility to store it securely and it was my irresponsibility that gave someone else access to my assets but here is the main difference between an email address and a blockchain wallet.

Instead of my assets having a new owner, they now have two owners. I still have access to my Metamask wallet. If I had better recovery set up on my Hive account I would probably have access to it as well but that is a different story.

If a bad actor stole my email address they could have easily changed the password and locked me out of the account but with a Metamask wallet we ended up in an awkward situation. While the hacker was trying to figure out every network I had assets on I managed to salvage a lot of the assets before they could get to them.

Even a month after my wallet got compromised I managed to transfer Gods Unchained cards to a new wallet because the second owner didn't bother to look at ImmutableX. If the same happened to my Steam account I would have no chance at recovering anything and Steam support would have no reason to believe me that it is me that lost the email and not the hacker that changed my password.

Blockchain wallets remove the risk factor of a centralized entity being responsible for your assets being lost. If you are responsible with your wallets there is zero chance anyone will ever get access to them. This is impossible to do with email addresses and the whole debate should end here but...

The Overlooked

When debating the value of GameFi with a "non believer" their main argument will be that gaming should be fun, not something you treat as a job and, I agree. The problem is that they never tried playing blockchain games in the first place.

I had my fair share of fun with Splinterlands, and I had my share of fun with Gods Unchained. While having fun I obtained certain in-game items that belong to my account and if this was a traditional game those assets would only seemingly belong to me. With NFTs I can verify ownership because I have proof that I own, for example, the 56th Shield Bearer or the 1st ever minted Gods Unchained card.

Instead of putting my in-game progress on pause every time I close the game I can rent out my possessions to others that obviously need them. If they didn't why would they rent them? This brings us to the value debate where some believe in-game items should have no value to which I have to ask, why does Steam have a marketplace where I can sell my Counter-Strike skins then?

If these assets are so easy to come by and have absolutely no monetary value why are people still willing to pay thousands for an AWP skin? Because they want to own it and it is a rare drop in the game. They are willing to spend money instead of time to obtain that item. If there is demand for such an item why is selling it to those that want to buy it considered an act of pure evil?

Another argument would be that a fun gaming experience shouldn't reward you something of value because that ruins the fun part which is partly true in some cases. Once I discovered that gold in World of Warcraft could be sold on black markets I did had a phase where I would focus more on making money than progressing in the game but as soon as that became exhausting I gave up and got back to playing the game. If you don't want to do something you will not do it but why deny that option to the people that want to do it?

Just like Axie Infinity had a phase where it was praised for giving everyone an oppruintity to earn while playing a game WOW was raided by gold farmers that were trying to make a living without having to sell their soul for a minium wage in their country.

The More Things Change The More They Stay The Same

The point I'm trying to make is this - GameFi is not trying to reinvent gaming, it is a necessary evolution of gaming. People like me want to own their in-game assets, I see that as a basic right because I "worked" for them. If you don't believe me go and try to play Fortnite for a while.

What is advertised as a "free-to-play" game is riddled with advertisement and propaganda. Every game you play will feel like plowing through a garbage pile of billboards and banners all looking to grab your attention and make you watch the next big Holywood blockbuster or mainstream anime. Epic Games has managed to create their analog version of the Metaverse where ads are served non-stop for the exchange of being able to play an online game for free.

In other words, the players are the product and the game is just one gigantic billboard that shines in millions of homes worldwide. On the back of these unaware players Epic games is generating billions in revenue while giving players nothing back except a free video game experience. Don't you think that at least giving them ownership over the in-game assets they paid money for would be a fair tradeoff here?

I do...

GameFi isn't perfect and we will probably have to wait a long time before it is at an acceptable level but at least it is trying to level the playing field. Instead of treating players as a product they are sharing the earnings amongst all participants.

Fortnite ad space would be worth exactly $0 if no one was playing the game. NBA ad space would be worth exactly $0 if no one wanted to watch basketball at a professional level...

Do we not see that restricting ownership of in-game assets is the equivalent of the LA Lakers selling you a jersey for $100 when you come to watch a game and making you leave it at the arena so you can put it on the next time you come to watch them play?

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