New Opportunity for Streamers and NFT Invasion?
Chain Games, Competition, Scams and Loot. What a crazy week.
Chain Games
I recently discovered an exciting new cryptocurrency. it’s called Chain Games. It’s goal is to allow gamers to host tournaments where they can gamble their crypto.
The process works like this.
You buy some chain tokens
Enter a tournament
Win, hopefully
Collect your winnings
It’s actually pretty straightforward.
As a gamer myself, I couldn’t help but get a little excited.
Gaming is actually really difficult. It takes a lot of patience and practice to master a game. And with the exception of becoming a professional gamer, there is no opportunity to cash in on your skill.
This project offers a way for gamers to cash in on their hours in game.
But it goes beyond just gambling.
There is serious potential here for gaming creators. Hear me out.
Gaming live streams have gone mainstream now. Twitch is massive and has thousands of creators and millions of viewers.
Imagine how much more intense a stream would be if there was cryptocurrency on the line in one of these tournaments.
Chain Games + Twitch = Amazing Streams
People wouldn’t just be playing for fun anymore. They would be playing to win the tournament.
I think this would make streaming significantly more enjoyable. There would be real pressure and that makes things exciting.
And what’s even more exciting? All you would need is a single big name to use it. And the entire community would adopt it.
I’ve written an entire blog post about this project, so feel free to check that out.
Solana vs Ethereum
It’s no secret that Ethereum is really expensive to use right now. The gas fees are through the roof. This prices out small crypto users.
That’s part of the reason people are so eager for a viable competitor to Ethereum. There have been dozens of these “Ethereum killers.” From Cardono to Binance smart chain, and many more.
However, most of them fail to deliver.
But there is one project gaining a lot of steam right now. It’s called Solana. And the reason it’s blowing up? It just launched their own NFT marketplace.
As you guys know, competition is great. It forces everyone to up their game.
And people are desperate for an alternative to Ethereum. Only for the reason that gas fees are unbearable right now.
Maybe Solana is going to be the competitor that changes everything. Or maybe it fails to deliver on all its promises like Cardono.
Either way, we should all be excited about new competition Indian ovation in the space. Regardless of what crypto project you own, you should encourage the Solana team just as much as the Ethereum foundation.
NFTs Invaded by Scammers
The good news is that NFTs are going viral. The bad news is that NFTs are going viral.
Whenever people find out how much money you can make in crypto or NFTs, they start swarming like flies.
People that never gave a dang about this community suddenly launch their own cryptocurrency or their own NFT project.
This cycle is no different.
One of the Paul brothers launched their own NFT project. As you might imagine, people were pretty skeptical.
But his fanbase, mostly being children, seemed to love it.
Thankfully, a wise scholar named Coffeezilla has exposed the project for being unoriginal.
Apparently, they just took animal stock photos from the Adobe stock photo collection and photo shopped mildly interesting traits.
This picture sums it up pretty well.
As anyone in this space should know, this kind of thing is going to happen. And there isn’t anything we can do about it.
After all, everything is decentralized. The best we can do is expose the obvious scams and call them out.
But despite nonsense like this, the NFT space still has lots of room for growth.
Loot and NFT Potential
Loot is the child of entrepreneur and programmer Dom Hofmann. He announced on his Twitter that anyone can claim one of the 8K NFTs.
But, what are they?
Images with text on them. They look something like this.
It doesn’t look fancy. But it’s not supposed to be art. It’s going to be part of a community created adventure game.
Hofmann even explained that he’s not taking a leading role in guiding the community. He’s simply a member.
The point of this project is to enable the community to do what it wants. Not to follow the direction of him or any other individual.
The creator of Ethereum even weighed in on this.
Ultimately, no one knows what’s going to happen with this project. It might die in the cradle because no one builds something worthwhile.
Or, it can turn out to be the biggest success in the NFT space. After all, it will be part of a game. Which would make it the first of its kind.
It’s probably too late to get in on LOOT. Only because they’re pretty dang expensive now. But this project illustrates something really important.
Anyone can build anything in this ecosystem. There’s so much room to grow and so many possibilities to explore.
I don’t care what kind of creator you are. You should be excited about the space.