By Nathan Ferguson
On Tuesday, Binance CEO – Changpeng Zhao – condemned the establishment of a GameFi-based exclusive business model which is free to own. He noted that there is no need for them to work hard if everything is freely available within the world.
Changpeng Zhao Declares Free-to-Own Model in GameFi as Highly Hazardous
The CEO added that nothing can be free, indicating how the zero trading charges for Ether (ETH) and Bitcoin (BTC) pairs are offered by the exchange due to the appropriate revenue earned from the rest of the trading pairs. He elaborated that the unique programs that permit players to enter without any fees can have extreme hazards involved for the primary adopters.
Limit Break is the name of the company which has been criticized by Zhao. It is known as a gaming venture having collected up to $200M on 29 August via VC funding. The project received a lot of fame by introducing a collection of free-mint non-fungible tokens (NFTs) under the title “DigiDaigaku.” At the start, the community has the capability of starting with no charges and owning NFTs for free.
These NFTs operate as factories to generate exclusive non-fungible tokens for cosmetics and gameplay. The concept behind this is that with the provision of free NFTs, the players would not feel to be pressurized to recover their investment’s cost in the nearest time possible, and thus they can stay as well as get involved in the gameplay for a relatively long period.
A Delphi Digital-based game economist, Ryan Foo, mentioned that just ten percent is charged by the Limit Break on NFTs. After the release of the respective NFTs up till now, the trading worth up to 3,900 ETH has been done. This has paved the way toward a remarkable revenue of more than $600,000. Ryan took to Twitter and shared that this counts as a unique Web3-based model with which a revolution will be witnessed in the sphere of game monetization.
Minecraft Creator Expresses Intention to Restrict NFT Integrations
During the previous months, the games based on blockchain technology have gone through harsh condemnation from the professionals within the gaming industry because of their attention toward profit-making rather than enjoyment. For instance, Minecraft’s creator – Mojang Studios – revealed that NFT integrations would be prohibited by it, referring to the investment mentality and speculative pricing that hinders the game experience.