“Why NFTs Are a Nightmare” talk goes viral

After tweeting his talk, the post on Mark Venturelli’s talk went viral. It was retweeted over 700 times and got more than 5000 likes. Following the twitter buzz, there was a news storm of major outlets covering the talk including PCGamer, Kotaku, Techraptor, The Gamer, The Enemy and more.

Mark shocked everyone when his talk was supposedly on the future of gaming. But as he started talking he then said the real name of his talk was “Por qué los NFT son una pesadilla”. That translates to Why NFTs are a nightmare. Which is a message that has been resonating well with a lot of gamers.

Screenshot from a video of Mark’s presentation at the BIG conference in Brazil

What made it even more shocking is that the conference was sponsored mostly by blockchain companies. The sponsor’s were all there to make presentations of why NFT and Blockchain enabled games are the future.

In addition to the usual complaints about NFT’s that have been repeated by opponents of NFTs in games. He was going into how money can ruin a game. He said, “Organized groups are going to fucking crush you. What actually is going to happen is that if you just naively play a game and have fun—imagine that—then you want to sell your stuff, your stuff is not going to be worth anything. It’s gonna be worth fractions of a cent, but what you give in return for that fraction of a cent is that you’re completely powerless now. Your fantasy, your ability to be impactful in the world as an individual is gone, because now it is controlled by these guys.”

There are definitely organized groups forming around games. The guilds are getting stronger. YGG has a fully diluted Market Cap of 600 million dollars. At the height of the market it was worth over 10 billion. The phenomenal success of this guild encouraged others such as Merit Circle, Guildfi, Blackpool and a host of others to Organize.

Some of the more popular gaming guilds

So he definitely had a point that there will be organized groups participating in these games. You are going to go in to have fun, and you will be up against organized groups with Billions behind them competing for the resources in a game.

Clearly this is a very polarized industry, but there are billions on the table and money keeps getting invested. The industry is not going away anytime soon. It will be interesting to see where the final balance is found between those that want and those that don’t want crypto in games.

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