10/19/2020 0 Comments Iffy about NFTs - Non Fungible Tokens Part 2 - NFTs, Collectible and Game Economy In my previous article, I outlined the basic concept around NFTs in order to help newcomers understand this emerging space. Here are four key points; 1) NFTs are non-fungible. They can’t be equally exchanged even if they look alike. Each NFT is unique. 2) There are two main categories within NFTs. There are Utility Tokens and Security Tokens. Utility tokens primarily are used for collectibles and in-game economies. Security tokens are often associated or tied to real world assets and often followed by stern regulations. See recent Youtube video from VID-T and Rolex watches. 3) NFTs are transparent. You can see transactions on what is called block explorers. 4) NFT are disrupting traditional finance. As the NFT market continues to grow and adapt, and as new participants from both categories begin to see the value of these tokens many more will join this ecosystem. In this part 2/2 article I will focus on Utility Tokens (collectibles and in-game economies) geared around the simulation property trading game Upland. If you are unfamiliar with Upland, it is a property trading game where each parcel/lot is mapped to real world addresses. As a player you use your game avatar known as Block Explorer (not to be mistaken for block explorer on the blockchain) to browse for properties you find of interest and value. Each parcel is an in-game NFT. Each marked by a unique address, border, size and value. Imagine owning a digital/virtual version of a well-known property that’s a business, landmark or a famous home. If that’s not possible then can you imagine building your very own home on top of the parcel you purchased. Design as you like (at a later date) with maybe a gallery or a garden. Then real soon, sell that home for either in-game currency called UPX or for traditional money USD. Plus, later on, you will have the ability to run your own business after you obtain a business license – of course lol. Perhaps even a business tied to a real world establishment. These are just a few ideas the Upland team is in the works of developing. But what does this have to do with NFTs? Many blockchain games use NFTs as a means of managing something like a portfolio of assets. I will use common stocks loosely as a comparison only because it is a category many people are familiar with. Say I bought a few stocks from an exchange. I have a portfolio of assets (more related to securities). They go up and down in value over time. I can sell or buy more. Each stock is unique but not transparent. There is no way for me to SEE what is going on behind the scenes. Nor can I build on top these securities and in regard to governance the option to vote is limited. In Upland, I have a few properties (in-game NFTs) that generate a percentage yield per month. A higher yield if you are the first owner or that yield radically changes if you are second or above owner. With an opportunity to increase your yield if your property is part of a collection. As the program develops, with structures and businesses, in theory so will the value of adjacent properties as well. Similar to real world real estate. Take for example Upland’s recent Landmark auction; The Ferry building. Image courtesy of Wikipedia. This virtual parcel and structure established a closing auction price of 5,321,050UPX (US$5,321). See full article here. Now what would naturally or organically happen to the value of its surrounding lots? That means each parcel/lot could rise in value. Added structures can also assist in that appreciation. Let’s not assume this is automatic, there are and will be other factors that can and will affect value just as in the real world. Nothing is a guarantee of course, very few things are. In addition, with these NFTs is governance that is mostly guided by the community – players like me. The community also has opportunities to build and create items and content that are NFTs based to sell or market to an already established audience. Therefore, over time creating Upland player based NFTs to market and brand. So why would You want to do this? That really depends on your perspective. A traditional gamer may find it difficult to cross over to a blockchain gaming environment. As this area is geared more to a slower build vs fast and immediate action. As a player (in any blockchain game) you and you alone must obtain, search, secure and manage all your personal assets. However with strong communities there is someone available to help you get yourself established. But generally, people just want to jump in and play within an environment ready to go. That’s entirely fair. Yet, if you enjoy simulation at a moderate pace (slower than traditional games), building an environment, content creation, marketing options, teamwork and collaboration, I would suggest taking a look at Upland and the timing couldn’t be any better. Fair Start city Fresno opens tomorrow. More on that next article. Regardless if you are #babyboomer, #genxer, #gamer, #femalegamer, #artist, #coder hopefully this article has provided a glimpse into the vast world of NFTs. Other blockchain gaming projects I am involved in:
AlienWorlds: https://alienworlds.io SciFi meets real estate and crypto mining. It will be light gameplay for me as it is still too early to tell what the experience will be like. The development and releases have been well structured and controlled. More game pack releases are scheduled. One this coming Oct 23rd, 2020. Artwork is appealing and representative to genre quiet well. KOGs: https://redfoxlabs.io/how-to-play-kogs// I would try to play here and there, but primarily selected as collection. Is a project that revitalizes 90’s game brought forward into the 21st century. Fantastic artwork with interesting themes. Time will tell how the gameplay actually plays out. NFTs collectibles, more on the artistic side: Mutant Heroes: https://mutant-warriors.com A series of imaginative and colorful illustrations with their own mutant language. Dingleberries: https://twitter.com/TheDingleberri1 Well the name alone should make you wonder and chuckle. If it did it has already succeeded. Part of the reason I was interested.
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NFTs - Non-Fungible Tokens. Changing the economy. Simplified. As much discussion around NFTs has increased in recent days and weeks. I thought it best to move this topic ahead of schedule. I will break away from the hype or FOMO (known in crypto lingo as Fear Of Missing Out) and focus on some of the advantages the NFT and token-economics markets provide. I am not an accountant, financial specialist or advisor. This article is my opinion and it advised that you apply caution with any monetary transaction and do your own due diligence. What are Non Fungible Tokens (NFTs)? I will attempt to simplify explanation and on why NFTs (a blockchain product) are gaining steam for the non coders/programmers such as myself. If more info on the subject check out Blockgeeks’ article. Fungibles are items that provide equal value. Ex. I can have a $5.00 dollar bill and exchange it for 5 x $1.00 dollars, 20x $0.25 cents or another $5.00. Each divisible amount still values $5.00 because a dollar is a dollar. No matter how you slice it. Non-fungible are items where the value and description of any item are different. Each item is unique and can not be ‘EQUALLY’ exchanged. Example, I can not equally (emphasis equally) exchange a loaf of bread for a can of tuna. Now before you say ‘well yes you can it’s called bartering’, I will re-affirm the word equal. You can make an exchange but it often requires both sides to agree upon the value-bargain of that exchange or swap. Maybe it is a loaf of bread for the can of tuna plus X. No matter what, the loaf of bread will NEVER equal a can of tuna. In terms of Fungible Tokens and Non-Fungible Tokens, Bitcoin is Fungible token, 1 Bitcoin is equal to 2x .5 Bitcoin (like traditional money mentioned above). Non fungible tokens are each distinctively different due to the hard coding embedded in the token, even though they may look alike. Take a look a CryptoKitties. No two kittens created on the blockchain are the same. In real life think of this example of a Granny Smith apple. On the surface they may look exactly the same, and carry very similar genetic coding, but weight is different, colour etc. Or another very common example of general knowledge are - fingerprints, snowflakes, even grains of sand. Imagine if they were to be coded on a blockchain. Let me step back a bit and explain there are at a minimum two major types of NFTs, Collectible tokens and Security tokens. The former mainly serves the collectible sector think CryptoKitties and the latter Security Tokens primarily for supply chains such as IBM. Both can offer transparency, authentication, governance, and ownership to name a few. Investment and Speculation: Where the lines blur or do they? Again this is not financial advice. Within the digital collectibles market, there are three top subcategories, Artwork, Virtual Land and Game items. Many wonder why anyone would think to put money in a non tangible item. I explained the theory in my previous article here. The question now is are these even worthy to be seen as an investment or are they an investment on pure speculation. Example: Artwork has for many years been part of a value investment mainly for the wealthy. A hidden portfolio of wealth rarely seen by the mass population, or only seen via a trip to the museum or online content. Someone performs an appraisal of a piece of work and someone else agrees to purchase for X value. Often leaving the creator with the least amount of the pie. In the current digital space, artists (talent) are available and accessible to everyone, around the world. Everyone can purchase a piece of artwork that appeals to them. Each uniquely defined by code. And the artist can gain popularity and direct revenue. Ina very basic outlook, if I took any from category - Art, Virtual Land, Gaming as a project, and speculated on its growth how would it be different from what is already happening in the real world? In the beginning companies like IBM, Telsa, Apple, Google, GE, Amazon, eBay, all had ‘investors’ inject money speculating on the profitable gain some time in the future. The funny difference in the current speculation argument from those who are quick to dismiss the value of NFTs claim these companies had a ‘working’ business plan/model or historical successes but are also quick to forget it was still speculation - nothing was proven. Even though the number one rule is not to invest solely on historical data to predict future gains.They invested because they either liked the project (intrinsic) and/or were convinced it had future monetary value (extrinsic). The second argument is that NFTs have no utility value (extrinsic value) in the real world. Again a short sightedness. And the pandemic is proving that is incorrect. More and more NFTs are used and created to secure real world assets such as supply chain, look at Coca-Cola, medical records, Real Estate etc. You can also refer to these links from cointelegraph about Art Industry shift and Investment Companies re-evaluation of NFTs. Bright future for Artist Christies Morgan Creek Execs The true big difference here is the ‘regulation’ of the emerging blockchain technology and its sub categories. Security Tokens often would require that all investments be registered. Not the case for Utility tokens. This is the big grey, confusing, debatable area. Do NFTs pass or are under what is known as Howey’s Test? Want to know more about Howey’s Test? Check this article. This is an area many regulators around the globe are scrambling to categorize without crippling the economy - where NFTs have provided a positive economic impact so far. Final thoughts. Why are NFTs becoming very popular? They can provide actual ownership, provenance and transparency but they also provide the opportunity for Consumer to become a Prosumer. An active participant and ‘direct’ supporter of projects that one likes and desires. A direct investor without the layers upon layers of bureaucracy with extremely low risk or manipulation. The other advantage to be part of projects with teams that share your values, and integrity. Reputation is value. I am not speaking about perfection but accountability and responsibility vs the lip service often written from many corporations where actions are less than admirable - see recent JP Morgan article. Final Example to ponder. A profound cover artwork for the comic book #Spawn made by Canadian artist #Todd McFanlane. It is a cover illustrating tribute to the late Chadwick Boseman. Which one are you? A) Not interested. Don’t like comics, B) Interested only for possible monetary value, I don’t care about comics. C) Love comics don’t care about monetary value o D) Love comics and monetary value. Some will see value others will not. Some will see its significant global and community importance others will not. And if there were NFTs of similar design or theme, the response/reaction would be no different, because we see value from a personal and collective manner. There is no right or wrong answer. We operate on both intrinsic and extrinsic values to some degree on areas of interest. That should be what we must understand at the core. 9/8/2020 0 Comments Blockchain GamingBlockchain Gaming - Its increasing popularity. And why it should be on the radar of traditional gamers, coders and artist. Blockchain technology and blockchain gaming are relative new terms appearing in traditional gaming circles. Not too long ago any reference to blockchain was automatically and solely aligned with cryptocurrencies like Bitcoin, Ethereum and Litecoin. There was barely a thought that Blockchain technology would have any association with gaming. That time is changing. Blockchain gaming although still in its infancy has been around for about 4-5 years. So what is blockchain? In the most simplest form it is an immutable record of every digital transaction, recorded on a chain in a form of blocks. Each new block stores historical information from the previous block as it records new transactions. These blocks(data) are stored on a large network of various computers (nodes) around the world for integrity/consensus and decentralization (in most cases). Therefore a transaction is tamper proof because all the nodes on the network must agree the transaction is ‘true/valid’. If someone attempts a false transaction it will be rejected by the network. Blockchain also provides transparency allowing anyone to see the transactions through a web browser on what is called a block explorer. You can look at data in realtime or look for historical information. Here are two in-depth links to blockchain and blockchain explorer. Now that you have a vary basic understanding of blockchain, I’ll attempt to explain how the two gaming styles differ. I am not a heavy gamer, and definitely not an expert, however I am familiar with the two worlds. Growing up and participating in the ‘High Score’ era (a Netflix movie) and witnessing the growth of blockchain I see the benefits as well as the challenges of blockchain gaming. This comparison is not to pit one against the other but to illustrate some differences so that new players/developers/coders/artist from the traditional gaming wanting to explore blockchain gaming have a more realistic expectations. Traditional Games. Generally all games are predetermined. The assets: your avatar/character, elements in environment, the mission or objective are already defined. This makes entry or onboarding very simple and easy. In some games, a game could introduce secondary games to assist with player engagement. Game signup is often just a payment or subscription an email and a password. And depending on the game they could offer ways to advance or enhance your player. Such as a purchase for X item with in-game currency or credit card. Where X items could be skins, tools, furniture, seeds, armour. You get the idea. The one thing that is most constant is that game play whatever it is, is immediate. Sign in and off you go. The computers storing all the game and player data are on a centralized network. However, what has slowly emerged is the realization that none of the assets purchased belong to a player, but remain the property of the game developer. The other factor is lack of community involvement with game direction and development and lack of transparency on how monetary funds are deployed. Blockchain Games: Here is where it gets tricky. The approach to a blockchain game is different and thus requires a different way of thinking, while still retaining conventional gaming mechanics. Blockchain Gaming carries over all the same constructs to its counterpart and more. The major difference is how the game is developed. Generally at a slower rate one segment at time vs full game release. Let us take away most of the presets and start completely blank or on a simple grid. Every new feature must first be coded AND be viable across a vast decentralized network. Most items first require to be ‘owned’ before they can be utilized as an asset, modified or played. In essence because the game is on a blockchain there needs to be a transaction of some kind. A purchase, a trade, a sale, or other (to be determined) that work harmoniously. All these transactions are recorded on the network for your reference as an owner or any other player/owner since all transactions are transparent. What does it mean to be an owner? Just that, the assets you acquire are yours forever. The purchases you make, in most if not all instances, can trade, upgrade or sell your assets also known as NFTs (non-fungible tokens) for money or other cryptocurrencies and have a say or input on game direction. The computers storing game and player info are accessible via the block explorer. You can see your game transactions whenever you want. But there are a few challenges with Blockchain gaming. -Because the game is set on blockchain, most games require a crypto wallet and if you are not familiar with cryptocurrencies this could be overwhelming for most traditional gamers and the mass population. The game Upland scores major points here since no wallet is required to play simple signup (email and password). -Robust gameplay remains a bit of a challenge in comparison to traditional gaming. As you may already assume gameplay must integrate with the blockchain showing every record. Not an easy feat to accomplish - yet. -Design and aesthetics, there is room for improvement and a few have, such as Upland and Chibis Global compared to earlier games and there are other blockchain games on the horizon that have scaled up their visuals as well. So let’s be fair, traditional gaming had 35 + years to evolve. Take a look at Donkey Kong back in 1981, Mario today is no where near the gameplay or graphics back then. It is now far more complex and detailed. We can’t expect blockchain gaming to be at the same level just yet. However I doubt it will take 35+ years to get there. Internet image from YouTube. Now you may think this comparison favours traditional gaming over blockchain gaming. Not at all, I pretty much enjoy both with a heavy lean towards blockchain. This article is to bring early awareness about blockchain gaming adoption to the traditional gaming sector and its supporting communities.
Take a look at articles from CoinDesk and Hedgetrade discussing the popular Minecraft utilizing blockchain to tokenize elements in the game. If you read any of my early articles/blogs you will know I favour blockchain as a new tool for society in general. Blockchain gaming in my opinion offers one of the best onboarding methods for mass adoption into this new technology. Blockchain Gaming like early Minecraft is for anyone with an interest to build (or maybe more accurately re-build), create and share environments within a strong supportive communities. To develop a platform for future gameplay features while learning about blockchain and cryptocurrency. Patience is key, it takes time to build a different type of game, a city, much less a universe. However the earlier you are involved the better and more opportunities you have help shape the game and to me that that kind of ownership is the most impressive. I hope this article provided some highlights about blockchain gaming. What blockchain games have you discovered and enjoyed? #femalegamers, #blackfemalegamers, #femalegamedevelopers, #gamedevelopers, #blackfemalecoders, #coders, #underrepresented, #blockchaingaming, #NFT, #femalecreators, #femaleartists, #creators, #artists, #womeningames, #womeninblockchain, #Upland, #genX, #generationX, #proportionalrepresentation 8/27/2020 0 Comments Upland enters Manhattan, NYHere you have it. Even More Virtual Real Estate available. Upland has officially expanded to include Manhattan, New York. At time of writing, Manhattan’s second bubble has been released. These series of calculated releases is based on the percentage of San Francisco properties that have been sold and introduces Upland’s Fair Start Act, which is to even out purchasing opportunities for all players regardless of a player’s in-game net worth. This includes some properties being locked out from purchase, therefore in theory allowing players of modest means the chance to purchase properties closer to their in-game net worth. This is the first and will no doubt requiring some tweaking as the game structure develops, but it also illustrates how the team has been listening to community concerns. The 5 Manhattan bubbles are determined at increments of 40%, 42%, 44%, 46%, 48% of properties sold in San Francisco. Ex. First bubble accomplished when 40% of San Francisco had been sold, Lower East Side was opened. Other regions of Manhattan include Upper West side, Upper East Side, Midtown, Village/Chelsea. Once 50% of San Francisco has been sold, all of Manhattan is available for purchase. *** Update: As I write this Upland added another feature that will open up all of Manhattan randomly for a short period of time. The details on when or how this will happen is still pending. Maybe the time you read this it has already passed.** What does the roll-out for New York look like? During this controlled release Upland had prepared challenges for a chance to win 12 hour exclusive access to open segments. Personally I have mixed feeling about it. Time will tell how it all unfolds. The other thing worth noting is Manhattan will open up in vanilla mode. This means there will not be any collections to collect and no Treasure Hunts to find. Thirdly, any new game enhancements like the property build or business license will not be available in Manhattan. San Francisco will remain as the main focus. You may be saying then why bother with Manhattan if you are unable to do anything? I wrote a small analogy referencing real estate sub division in real life you can read about it here. Upland is very similar. It’s about building your own portfolio one layer at a time. My trip to Manhattan including my experience with bubble 1. Yup flew over to New York State. First I sent my gallant seahorse to one of the airport parcels. Purchased a ticket for 2,500 UPX at one of the terminals, and on a flight lasting about 45mins. You even receive a nice animation of plane take off. Sat back, chill. I took a peak to see the progress and was nicely informed my flight had 19mins remaining. Once I landed another neat notification prompted me I was ready to deplane the aircraft. From the airport it was sending my Seahorse to the first minted property in Manhattan, and was it every busy. The block explorers were hoovering around like seagulls waiting for food in this case the first light green indicator (for those who haven’t read through my blog, light green indicates a property within range and available for purchase) and off to the races. Needless to say it wasn’t the smoothest experience. On my end I had freezings glitches, the game went under maintenance a few times and there we no sends (sends - paper airplanes that allows your block explorer to jump from one property to the next - paying rent unless it’s your own property), but that was quickly addressed. Frustrating a bit, but also in a good way. Because to me this indicated there’s interest, the game is growing and also offers the team hard evidence on resource demand to better prepare for bubble 2 etc. Conclusion: It was exciting. I bought a few properties and stayed for about a week before purchasing my return ticket back to San Fran. At this moment it is unlikely I’ll participate in bubble 2, but will see how things move along for bubble 3 and onward - or maybe all of Manhattan will be available if the demand continues. There are really good stuff happening, take advantage of my referral code: https://discover.upland.me/TheCatalyst to gain a bonus on your first property purchase. Soon -- I'll touch on NFTs (non fungible tokens). |
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