Technology

When NFT started getting popular. Forums were full of idiots saying "now I can really BUY something and HAVE it!" as opposed to, say, game publishers having their server with user accounts on it and their item there. There's even people that touted "we will be able to bring items from one game to another!". Pointing the silliness of the idea to them was a lost cause.

And, since that's not how any of this works, it crashed and aside from some big publisher being incredibly late to the party, the idea is now buried deep and forgotten.

Not that long ago. Many still do, although you'll primarily find them in more niche spaces within the overarching crypto community.

In fact, just a few years back, I used to be one of them. Of course, later on I became disillusioned with the promises of crypto after learning more about socialism, thinking more closely about how the system fundamentally worked, and realizing that it was effectively just a slightly more distributed variant of capitalism that would inevitably fall to the same structural failings, that being capital accumulation.

To clarify the reasoning that was often used, including by myself, the reason people specifically thought blockchains would make microtransactions better is because they thought that it would lead to more user freedom, and open markets. If you can buy a skin now, then sell it later when you're done with it, then the effective cost of the skin is lower than in a game where you are unable to sell, for instance.

Obviously the concept of selling in-game items isn't novel in any way, but the main selling point was that it could be tradeable on any marketplace (or peer-to-peer with no marketplace at all), meaning low to no fees, and they items could be given native revenue-share splits, where the publisher of a game would get a set % of every sale, leading to a way for them to generate revenue that didn't have to be releasing new but low quality things at a quick pace, and could then allow them to focus on making higher quality items with a slower release schedule.

Of course, looking back retrospectively:

1. Financializing games more just means people play them more for money than for enjoyment
2. This increases the incentives for hacking accounts to steal their items/skins
3. Game publishers would then lose profits from old accounts being able to empty their skins onto the market when they quit the game instead of those skins being permanently tied to that account

There are a small subset of people who legitimately just don't understand game development fundamentals though, and they actually believe that things would just be fully interchangeable. As in, you buy a skin in Fortnite, and you can then open up Roblox and set it as your player model.

Those ones are especially not the brightest.