For starters that is a rather blanket statement its like asking if all emails are scams some yes, but all being a scam not quite. In other words Non Fungible Tokens are a form of technology something inherently neither good nor bad.
NFTs are as legitimate as their creators allow them to be meaning yeah you can buy a meaningless JPEG or a real world item represented by a digital asset. Its a question that gets asked on a case by case basis weather this NFT is a scam or legitimate.
Since NFTs tend to be a subjective market an NFTs legitimacy or value is truly in the eye of the beholder.
Todays write up I'm going to get all economically philosophic on NFTs Highlight a few Collections to check out. Perhaps most importantly explain how South park teaches us Economic Philosophy & its reflation to our modern consumer culture.
Wisecrack economics in south park.
Though both the creators of South park & the YouTube channel Wisecrack more or less hate NFTs. This video incapsulates my NFT argument perfectly going over 4 episodes which question the very nature of value.
From concepts such as inherent bias, consumer subjective appeal, & social interactions framed as a form of value. All the way to valuing assets or brands based upon their relation to other assets or brands.
All of these economic concepts are essential in understanding the value of these 3 letters NFT.
So are NFTs a scam no more then any other modern economic system, crypto users understand how meaningless a dollar is as a concept. Just like crypto value of the US Dollar is backed by nothing more then faith thinly veiled as a nations net worth. Just like crypto projects collapse so to do national currencies.
Collapse an empire as simple as changing a 1 to a 0
Its this skewed detached concept of value that gives rise to anti NFT redirect, they Inherently dont understand the core systems at play so some NFTs are scams = all NFTs are scams.
Can you loose money on NFTs duh, but that doesn't mean there are not NFTs with legitimate value even if its subjective consumer appeal? No!!
I really suggest you check out the Video as while the creators of south park think this of NFTs.
They perhaps have some of the best arguments in favor of this type of market & economic system they just dont realize it.
Play to earn paradox
Now other then the adult film industry & a few dream jobs people usually attribute earnings to something tedious or medial. In other words personal sacrifice denotes legitimate revenue.
So when you encounter Play to earn games for the first time you automatically assume there is a catch like freemium games for instance a scam with an err of legitimacy.
This does not mean all games that have play to earn mechanisms cant be fun or enjoyable just to play.
Splinterlands is currently my legitimate favorite game as its mobile & I like TCG style games. MTG, Pokemon, & YuGiOh thems my beats so a modern smash hit styled off that style card game with legitimate P2E Mechanics sign my ass up.
I can play on break or while on the road as I dont drive usually. Add to that a proprietary Game engine built & maintained by a truly talented team of Devs. Splinterlands Dev teams know their project inside & out this is above the standards of most game publishers in general much less Blockchain Game Publishers.
Their rollouts of new game features / assets are seamless made all the more impressive when you remember this is taking place on & off blockchain(s) simultaneously.
For this reason & many more I put my faith in this NFT collections success / profit potential. Many Play to earn games have talented teams but its an almost impossible level of collectives experience to actually contest. Splinterlands Dev Teams Very well may be the best team Blockchain game developers in the world. The Industry is still in its infancy and a normal game developer is ill equipped to navigate Blockchain integration.
This means you need training in courses not yet taught about subjects still being written. Which is why when you find gems like Splinterlands you Hold on for dear life as this Game is going places.
Since I study WAX & HIVE Blockchains in depth I understand their limitations better then most. Only someone in the market for a while would know you go to one blockchain to deal with increased processing requirements BSC. HIVE & WAX can get a little difficult when you start increasing game complexity significantly. ETH is the old go to but ETH is dead for gaming due to network gas fees. Others have tried XTZ MATIC but they fall short for a number of reasons. BSC is perfect for expanding Splinterlands game functionality.
All the options appear the same at first glance however the details can derail a project proper infrastructure accessibility & existing integrations make the difference extremally important.
A person unfamiliar with Blockchain cant possibly know that, I even have companies approach me personally for blockchain integration consultation with WAX or HIVE.
To them I point out my knowledge is gleamed from research & some limited testing of the systems in question, that being said there are things I simply cant afford to test. In other words those who can do those who cant teach I fall into this later category.
It is because I have read so much & tested so many blockchain games I feel confident when investing can I make bad calls of course, However I will point out most projects I write about I personally profited from already.
Some recent fails where KOGs slam a game I was personally an alpha tester on kind of failed proper WAX NFT integration making the project a non starter. Alien Ships was a bit of a Rug pull literally just disappearing overnight.
That being said I was with both these projects a while & was already in the green investment wise. My personal & blockchain finances are disconnected Blockchain paying for itself I try still not to risk anything over $20 initially. Once I profit those funds can be utilized to further the investment allowing me to purchase more expensive investments.
NFTs & blockchain assets are still highly speculative, high risk = Higher rewards to me its an acceptable trade off. I dont intend any write up as financial advice I'm not a financial advisor but a contractor by trade.
As a habit of the profession I mitigate financial costs & maximize perceived benefit. Its even a problem for my own perception of both elements of cost benefit analysis's.
For this reason when talking play to earn games I aim for free titles or financially negligible costs to play. For this reason I understand the vastly superior position HIVE WAX & EOSIO alts are in when games are concerned.
Nothing beats legitimately free because you risk nothing transactional fees are the biggest problem of blockchain games EOSIO variations find a Staking workaround for this issue.
Add to this the simplicity of WAX sign up & everyone can collect NFTs not strictly the technically inclined among us. I have taught 55 year old construction workers how to utilize a WAX setup no problem. This is like teaching a dog how to use an ATM not impossible but awe inspiring.
Truthfully the specifics needn't be known like most cant explain how a Smart phone works but can use them all the same. I can explain how a smartphone works but I read instruction manuals for fun so....
Since the specifics needn't be known to use WAX its a magnificent advertising & promotional medium. Like my airdrops for instance a few clicks & anyone gets a free NFT airdrop if there the first to click it.
Literally a Blockchain illiterate person can claim WAX NFTs that is powerful beyond measure in this industry.
WAX has that component down HIVE has a loyalty driven by its social components resulting in a near over zealous fandom. These two components are what makes games on both so special.
BSC enters the picture once processing limitations are the issue not social accessibility. To do the inverse is a mistake BSC & WAX integrated projects are ultimately lacking in that social component of HIVE.
I brought up at a public AMA in a futurist conference years back that a proper combination of EOSIO based projects with other POS blockchains will ultimately dethrone ETH. This was addressed to ETH Dapp developers whom laughed at the very notion.
A proper blend of Blockchains with a project & its developer teams talents ultimately guide my selection for Play to earn games to invest in.
Since Splinterlands recent rewards upgrade I'm Averaging 4-5 Reward chests a day thus far in Gold rank.
With around $6 in Rentals for the whole season I can usually hit Diamond rank 3. This means I spend on average 6,000 DEC or Credits Between my rewards for 3 days at Gold ranked odds modifier I have received roughly 4,000 DEC in just rewards chest assets.
A season lasting 15 days total 5 days in at 10 days remaining skipping 2 days (wallet issues) I simply need to generate $2 to justify the rental costs. With a total of 15 Season rewards chests earned thus far the likely hood of profiting is looking good.
Cant tell you how happy I am with Splinterlands new Rewards system thus far, I cant play all day but I average 4-5 Gold Chests which have 2% increase on Gold foil cards odds, increased legendary card odds, & 8x the DEC per chest.
This shows me the chests function in a similar fashion to packs with a plugin odds variable determining contents at moment of execution. What this means is its not a simplistic RNG system which is predeterminate & sorta the standard for similar systems on other games.
You can tell a great deal about a project by looking at the small details which inherently show the project developers professionalism or lack there of.
Splinterlands is a perfect example of thorough project testing & oversight rarely does the customer encounter a problem.
There is a reason besides profit that I cant speak highly enough about Splinterlands. Not to say somewhere in the neighborhood of $30,000 profit is not impressive in its own way. Profit minus costs of Purchases mind you in total I cycled around $20,000 worth of packs.
Usually averaging around $300 to $1,200 a piece I did most of those figures in Gold legendary cards. Though my Legendary summoners fetched me around $700 a piece I had 5 of them.
Knowing when to HODL & when to sell is just as important with NFTs just different factors drive profit margin.
Odds are a funny thing when talking probability your traditionally speaking about a ratio like the odds of the Splinterlands packs out of 5 count packs shown above.
A good visual aid & the odds are representative of a test sample in the thousands I'm unsure of which pack because my records indicate a different conclusion but I have only opened just over 1,000 Chaos legion packs. My data also would be faulty due to the Airdropped Chaos legion cards modifying odds.
Compared to original Chaos legion odds your odds are significantly higher now then at launch of getting a Legendary Card.
You see adding 7 legendary Chaos Legion cards to the colection drastically alters the math in your favor.
Originally out of 91 cards in the colection you had 7 legendary cards possible in each pack. Now out of 98 you have 14 Legendary cards in the chaos legion packs which skews the odds slightly in your favor despite the decreased likely hood.
Which is why Dice packs where so profitable they have the best odds of any pack.
Knowing market demand how the packs function & what the likelihood of profiting on any one pack with potions applied. This is how Splinterlands made me over $30,000 in less then a year.
I was on a budget the majority of my colterol came from a single gold rewards card earned playing.
This was shortly before WAX price blew up I got lucky twice there but I was broke before this which to me now is a totally different statement. Like the market crash wasn't fun I lost $10,000 or so but I'm not at legitimately $0 ever before Splinterlands plain & simple I was. Now I own a house have disposable income never have utilities past due let alone shut off, all of that was normal before Splinterlands.
Legitimately understanding everything about Splinterlands & its market is the very least I can do.
There is no incentive for me to lie here The HIVE & WAX Blockchains have records indicating my claims legitimacy. On HIVE its @chubb149 WAX is akyqy.wam
Its due to my Splinterlands portfolio I can do so many NFT giveaways literally valued well over $1,000 in & of themselves.
For all this I can thank HIVE & Splinterlands, so there is a reason I obsess over their colection.
Want to play the game that literally changed my life, You can join Splinterlands via my referral link below.
It takes $10 for a Spell Book more then worth it.
Another HIVE blockchain game which continues to contribute to my play to earn portfolio Rising Star. Rising Star utilizes the social component of HIVE to truly involve their players with their project.
Several Hivians which are musicians even have their own card NFTs in game. This is in addition to tokenizing artists work as Rising star NFTs.
You can even support albums for an ROI with sales
This fan involvement in both the Music and game aspects of Rising Star is to be commended.
Giveaways & events on Discord, the best part its all free. a year & a half in I'm up to around $700 profit at level 79. Granted you can pay for NFTs or earn them free via STARBITS earnings or Achievements which can award NFTs & packs.
While in the beginning it was a bit lacking Rising Star constantly evolves adds new NFTs, Crypto, & features.
Hell they even have a Beautifully simplistic WAX NFT portal system I'm jealous I didn't think of first.
The HIVE project that can Rising Star is a Game more then welcome in my P2E Portfolio.
You will have to stick with it but Rising Star is truly free & profitable, would you kindly considering join up via my referral below.
The little engine that's gonna no think they can here, more like we are going to. Pulling out all the stops with Staking, Game cross collaboration HIVE projects one after another showing some form of involvement or solidarity.
When I realized they where expressing interest in a WAX NFT portal that is what will do it for them I have faith in that.
Hell they used my art for BUDSX coin design have to love that, they have a HIVE DHF I'm sure they would appreciate support on & I for one would like to see what their team can do with enough resources.
This would be free to you please check it out if you haven't already.
Other then the BUDSX staking they added curation a new game functions like Forge, Raids, & merge to name a few.
If I may my suggestion for Hashkings is NFTs that just serve as support for your project with no game function on WAX or even HIVE but that's a smaller market.
I ran a free add using Galactic 123 using their add faucet earnings mechanic in game. The adds are free for me to run so I figure why not run this add like I occasionally run Weedcash NFT market adds.
Galactic 123 is a TRX / WAX free play to earn in which players may use something called the Traffic exchange to earn crypto or in game credits for Items / NFTs.
Here players can either respond to others adds for crypto & credits or post them personally using ADD POINTS.
I used in game funds from playing a few hours to steadily purchase Web Miners for free. My Web Miners currently produce 9 clicks per day free & I have a backlog.
Yeah its a little rudimentary but this is a legitimate WAX play to earn meaning this is effectively targeted advertising to your key demo.
Just some game play shots Planet selection 👆 Planet selected👇
Admit it this just blew your mind here's the game
As I said a little rough around the edges but this Space RPGs adds go to players funding Party NFTs , Weapon, WEB Miner NFTs, Ship NFTs, & Planet NFTs.
Meaning while not glamorous this is targeted to a demographic more likely to play Hash Kings.
@hashkings These Adds are just the basic advertising through Galactic 123, effectively you can own a WAX planet NFT advertise directly on it in game.
Its a Great tool many WAX NFT collections & play to earn games use even making custom 3d Planets for players to explore themed in a manor advertising their respective game or colection.
Battle Koala P2E Game planet for instance you have to edit these planets personally adding assets to the planets appearance otherwise it stays stock random asset generation.
They edited this much of the planet customization However most like this one tend not to edit the Planetary Surface 3d Assets so its random like so.
Still a truly impressive advertising too which is why I direct your attention to it. I paid absolutely nothing & am able to advertise via the Web miners I got for free playing.
So whatever your working with for funding its affordable Targeted advertising, even free with very little effort.
Anything I can do to help my favorite Cannabis NFT / Crypto P2E Game. Sounds like a small group but I have tested 7 & play 3 currently so its saying something. That add will run for like the next 2 - 3 days & ill occasionally drop add points in the campaign as I do with the others.
The best King in the deck they are usually holding 😎
I have a 6th sense for these things & while it may take a little while I have faith in Hashkings being lucrative to their players once again.
It helps I effectively grow plants for free now in game which is profitable that's a good sign with ownership of some water towers & land plots I grow 7 Plants for free per grow cycle.
I Stake for BUDSX using every 5,000 BUDS Earned usually taking about 1 week with 2 Mexico Land Plots, & 6 South America Land plots. So my 5000 BUDS getting staked earns me on average 3,000 or so BUDSX. All the Seed NFTs required I get for free as I utilize HKWATER generated daily by the 3 Water Tower NFTs I own to purchase seeds.
BUDSX Earnings potential looking solid, HP curation delegation also a solid choice. These are Semi Passive earning mechanics that's important with P2E game longevity. Being able to log in & check it once a week is better however for more active players they have Raids Daily.
Bang Defense being linked to the BUDS earning mechanics will likely be the edge needed by the Hashkings Ecosystem.
This is why I draw your attention @hashkings to Galactic 123 This Cross P2E Game promotion advertising seems fairly effective from my observations. Where alien Worlds or Upland say cost far to much to collaborate with effectively working on WAX / EOS NFT collections only.
Galactic 123 can have a Hive Dapp advertising or even in game URL portal systems like an add in game. Or a custom planet for a much more reasonable price tag, you can set up WAX NFT or crypto rewards systems on planet its not required or necessary to do so.
If you are familiar with the Land Plot Mining Governance on alien Worlds the Galactic 123 Planets function in a similar fashion but a little more customization is possible.
My bad if this is a little jarring to read for the average reader just shouting out Hashkings to get the Devs attention. It isn't to say you shouldn't Check out Galactic 123 if you have anything crypto to advertise.
New to Hashkings can check out Hashkings here & please support their DHF if you can.
Hashkings NFTs can bought here
Farming Tales Hemp sales
Well from one form of digital cannabis growing to another the Hemp Grow Box NFTs for Farming tales recently launched on WAX.
Not because I dislike Farming tales but I simply dont have the time for such a complex game I dont play it very often.
That being said if your into farming sims with vIRL earnings potential Farming Tales is the game for you.
Made utilizing the Unity Game engine on WAX this immersive 3d world built on the WAX blockchain may just be one of WAX Blockchains best games.
Given I have actually tested around 40 WAX games that's saying something.
Best part other then adding Hemp the games road map has them joining us on HIVE in the future & you know how much I like WAX + HIVE working together.
Look out I only attack to defend the HIVE!
Needless defensive behavior aside, the Hemp growing is sure to make this Farming game that much greater. If you want to give Farming Tales a look see its free to play you just Need NFTs to profit log in & give it a look see here.
Weedcash NFTs Stash Pass
Now we have gotten to my personal NFT colection #stashpass, which is a Weedcash(HIVE) NFT colection with a rudimentary use case.
Utilizing the transactional records I verify ownership of randomly chosen NFTs from the #stashpass NFT colection, I host a raffle. Depending upon which pass NFT you own the difficulty of winning & prizes can very.
3 randomly selected #stashpass NFTs get announced those whom own one of the 2 passes & the 3 NFTs win the large prize.
Announced each month on the 20th thus far I have given out over $30 in prizes to winners since 4/20.
Those with the new VIP pass NFT starting at 500 WEED win prizes for every 1 NFT out of the 3 called no Duplicates apply. I launch 2 #stashpass NFTs every week on Sunday 1 is only given away in my posts & the other sold for 10 WEED only 10 of each get made making selling them more then possible.
This helps new HIVE users which my data indicates are more likely to participate in giveaways.
My #stashpass colection is not intended to benefit me like most of my projects its intended to help HIVE. Matter of fact its very unlikely I actually profit, like with my giveaways #stashpass is intended to improve the average HIVE users experience.
So if you find yourself wanting to participate in the #stashpass monthly giveaway Instructions can be found below.
Stash Pass Whitepaper
Or if you have received #stashpass NFTs you wish to sell or want to buy some yourself you can do so here.
WAX NFT airdrop Instructions
Ill still do a single airdrop link on my HIVE (1st) post only. After the Airdrop link has been claimed the first 5 people to leave their twitter or WAX address in the comments on the HIVE post get a single WAX NFT gift sent via the https://bountyblok.io/ WAX NFT gifting system or Nefty Blocks WAX NFT transfer system.
So if the link has been claimed the first 5 to comment their Twitter or WAX wallet address on the HIVE post get a WAX NFT sent via the WAX NFT Gift system of https://bountyblok.io/ or WAX NFT transfer system of https://neftyblocks.com/
I vastly prefer the WAX wallet being used for the second WAX NFT giveaway twitter accounts have been hit or miss.
WAX NFT airdrop
Todays Airdropped NFTs correspond to the following games
For those whom didn't claim the WAX NFT airdrop, ill be giving out the
following NFT Panda Hero NFT to the first 5 people to comment their WAX wallet address.
If your one of the lucky 5 readers that receives the NFT Panda Hero NFT, you will then be able to play the following WAX P2E game.
Stash Pass NFT giveaway
My #stashpass NFTs are Weedcash(HIVE) NFTs of my own design which have a Monthly raffle system utilizing their ownership & a pass NFT ownership to determine random monthly winners.
Like the free #stashpass NFTs I will be giving away today all #stashpass NFTs can be needed to win the monthly raffle.
Only 10 of each NFT including todays will be made, each is rare & is tied to the raffle system if you receive one but dont own the needed pass to participate please consider selling it here.
This is how to get your hands on an exclusive #stashpass NFT which is a part of my year long monthly airdrop NFT program #stashpass to qualify to receive one simply...
Re-blog this HIVE post & comment #stashpass
Be sure & do both just a re-blog or comment alone does not count
First 5 users to do so receive an exclusive #stashpass Weedcash NFT.
Each month I will do an airdrop of cannabis NFTs / crypto from HIVE games & Dapps to HIVE accounts that own the 3 right #stashpass NFTs randomly chosen each month.
Buy or sell Weedcash NFTs like #stashpass here
Weedcash NFTs are sold for WEED a HIVE alt available for trade here
Instructions on #stashpass raffles
Stash Pass Whitepaper
Free WAX / HIVE games
Newer HIVE / WAX users may want to know about all the following free play to earn games on WAX & HIVE.
By free I mean free particularly Rising Star & Galactic 123 are worth a look.
So are NFTs a scam?
As much research as humanly possible cant give you definitive answers to this question, I genuinely enjoy the NFTs I collect & I have made a good amount of money doing so. Its because its a hobby & I am so meticulous that it was possible to do so.
NFTs like any risky investment are likely to cost you money if your not careful even if you are hell I just lost like $10,000 during the last crypto market crash. I didn't put that in its what I am playing with now working up from under $100. Meticulously & carefully for around 2 years I have been trading WAX / HIVE NFTs. Paying close attention to market trends & I have still lost money lots of it out of profit not personal finances.
So while yes NFTs can be a scam, not all NFTs are scams in my opinion. I could be wrong but I think I have observed enough evidence to the contrary, & I simply cant call all NFTs a scam.
This is not intended as Financial advice, I'm not a financial advisor, & do your own research before investing in anything.