There is a popular opinion about recent trends like NFT, Metaverse and P2E considered to be completely new, revolutionary ideas that are only to be developed fully. However, taking a closer look at the crypto industry’s past, shows us that most nowadays ideas have already been utilised in the past. Let’s discuss whether the statement is correct or not. 🤔
The opinion on…
The main idea behind NFT is the ability to make anything into a financial asset. However, NFT is just a better executed model from the past.
Back in 2017
By that time users were already able to cheaply and easily create unique tokens that could be auctioned on DEXs on such platforms as Bitshares (BTS), NEM (XEM), Waves (WAVES) and others. However, every token with a controlled emission can be technically considered non-fungible and unique with the only difference being a picture of any other data attached to the token with a link. That token was still stored using web2.0 infrastructure, though. 👎
The only difference with nowadays NFTs is tokens being represented in browser applications directly from the wallet. The process is, however, far from perfection - some tokens can not be shown correctly and some can not be shown at all. ❌
The innovation of metaverse is highly influenced by what meaning does the termin have behind it. If the metaverse is all the recently introduced technology like AI or VR, the progress is significant. 📈
However, if we think of metaverse as a place for people to meet with each other in an artificial online world, then technology doesn’t seem too new anymore. Games like Fortnite or Minecraft have been organising public servers and events with thousands of participants a long time before Sandbox of Decentraland were introduced. ⏳ Comparing the active user numbers would also show that centralised games outperform decentralised applications significantly with Decentraland only having a 1000 active users. 😴
Another example of repetitive technology would be P2E, which could technically be considered a financial pyramid that relies on new users joining the game. The difference here would be the profit division - the more you play, the more you earn. 👎
If you look at all that from a different perspective…
don’t rely on technology that much. The main hype around was caused by marketing and showing people that such a tool is available for use as well as making the creation of NFT as easy as possible. 🤝
is only to be brought into the masses and the technology has nothing to do with the user quantity. The main selling point of metaverse is their safety, because of blockchain base and neither Minecraft nor Fortnite can compete here. 😎
P2E is closer to traditional gaming, rather than financial pyramids. Once again, blockchain brings safety to them and this is what differs those the most. Another reason for P2E being different is the profit distribution - you shall obviously invest something into a project for that project to pay you for your joy. 😉
Everything can be criticised, if the critic is biased and the topic isn’t covered properly, so always make up your own opinion. 🙌
Stay tuned 📻
FAQ: What is P2E?
A P2E game is a kind of decentralised application, that rewards you for playing some game or getting achievements in it. You might get your prize in the game’s domestic tokens or in some other more stable tokens 🪙.