GameStop Is Building An NFT Platform On Ethereum (theblockcrypto.com) 41
GameStop has quietly unveiled a new web portal for a non-fungible token (NFT) platform. The Block reports: "We are building a team" the page declares, stating: "We welcome exceptional engineers (solidity, react, python), designers, gamers, marketers, and community leaders. If you want to join our team, send your profile or something you've built to: nfteam@gamestop.com."
The exact scope of the project is unclear, though prominently featured on the page is a link to an Ethereum address, indicating that GameStop's team will use Ethereum as a technology base. The smart contract code declares "Game On Anon" and links to GameStop's NFT page and indicates that potential GameStop-released NFTs will utilize Ethereum's ERC721 standard. The code also points to a dedicated token, GME.
The exact scope of the project is unclear, though prominently featured on the page is a link to an Ethereum address, indicating that GameStop's team will use Ethereum as a technology base. The smart contract code declares "Game On Anon" and links to GameStop's NFT page and indicates that potential GameStop-released NFTs will utilize Ethereum's ERC721 standard. The code also points to a dedicated token, GME.
NFT stands for (Score:2)
Ethereum is a Fraud! (Score:2, Informative)
#1. It is not immutable and can be censored. The developers can roll back transactions and change the rules whenever they want. They can also be pressured by others – such as governments.
#2. ETH's scarcity is artificial. The developers – who prefer inflation – control its monetary policy, which is arbitrary, uncapped, and challenging to audit.
What will the ETH supply be in 5 years?
It could be 120 mil
Re: Ethereum is a Fraud! (Score:1)
Except aas part of reliability you need to be stable
Bitcoin isn't stable because it can't be used to purchase real world goods at consistent Bitcoin prices.
If the dollar bounced as hard as Bitcoin does the us economy would collapse .
Bitcoin is a deflationary (means it loses money constantly) by design. So unless the bulls are pushing Bitcoin up it only goes down.
If china follows through and stops Bitcoin mining expect to see it's value collapse.
Re: (Score:1)
Gold was the best money for 5000+ years. The Classical Gold Standard ended with WWI. Full control of the money by the state means that the state has the ability to increase its own size without limit. Gold was successfully attacked: https://medium.com/@festina_le... [medium.com]
F.A. Hayek in 1984: "I don't believe we shall ever have a good money again be
Re: (Score:2)
Bitcoin has all those same problems.
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So what you're saying then is that it's a perfect fit for GameStop.
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It only costs 5 dollars to store 32 bytes in the NFT chain so you don't have to store everything on another random server and hope your URL never breaks when the random server shuts down. That never happens in the game industry. [slashdot.org] At 32B/$5, you could store a 6MB SNES game for the low cost of $1,000,000 in the Ethereum blockchain. Which since we're living in bizarro world already is only 4,000 GameStop stocks.
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An NFT itself is unique, in the same sense that if I write down the coordinates to a statue in the woods on a sticky note and give it to you, that's a unique item. But there's nothing stopping me from producing a million more sticky notes which are functionally indistinguishable from the one you're holding now.
And while you may "own" that sticky note with my scriblings on it, you don't own the statue it leads you to. You don't own the coordinates, or t
Virtually speaking. (Score:2)
Hazard a guess this will be a virtual Gamestop where you can bring in your virtual purchases, get paid very little for them, and walk out with a genuine virtual game code.
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So many businesses failed during the dot-com nonsense. Yet some investors made a ton of money. Mostly the money came out of the retirement accounts of people who let "professionals" manage them. A lot of people had their final retirement income reduced, or their retirement delayed by a few years. That's how it goes, people who aren't involved in the nonsense are usually the ones left holding the bag at the end.
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The bailouts wind up for the people at the bottom edge of the pyramid. When stuff tanks, the guys who did the schemes have already cashed out and are onto their next machinations.
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Apart from the 'damn good' part, does global warming mean nothing to you?
Solar panels massive inefficiency? So why are they so much cheaper than nuclear power? Land usage, you mean like peoples roof-tops? Storage? Like electric car batteries? http://landartgenerator.org/bl... [landartgenerator.org] Solar needs this much space to power everything we do
I would love for cold fusion to be the miracle cure to our energy needs but I'm
Re: (Score:2)
India is setting up a 3 stage program
Stage 1 reactors use Enriched U235 and produce Plutonium and energy
Stage 2 reactors use the Plutonium surrounded by a depleted Uranium blanket and a Thorium 232 blanket. They produce more energy and U233 and Plutonium. The Plutonium is used in more Stage 2 reactors while the U233 is used in stage 3 reactors
Stage 3 reactors use U233 with a Thorium 232 blanke
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Standard nuclear reactors are expensive, breeder reactors are far more expensive than standard reactors.
I'll bet what India is doing there is hideously expensive, like 4 to 6 times more expensive than the electricity they'd get from solar or wind.
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Ps, about India's interest in Breeder reactors:
https://thebulletin.org/2016/1... [thebulletin.org]
Sounds very expensive and potentially more risky than the Chernobyl or Fukushima plants.
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This isn't r/superstonk your rhetoric isn't needed here.
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funny that you sound so ... "millennial"?
- petulant and prepotent way to say absolutely nothing, check
- blind faith in that some abstract technological magic is the solution for all problems, check
- self obsessed attitude despising everybody else, check
are you sure that you are pure x-gen breed? you might have been lied about that (too) ...
New Business Model (Score:2)
GameStop's new business model will be going from selling overpriced toys and collectibles to selling overpriced NFTs.
Re: New Business Model (Score:1)
Short Squeeze (Score:3)
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Didn't WallStreetBets shake out all of the shorts a few months ago?
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No because new investors showed up to open new short interest. Which is entirely reasonable because GME market cap of 17B inst!
The reality is no matter how much WSB might "like the stock" its insanely over valued for a 'mature' company that inst foretasted to be in profit for years. How high traditional short squeeze can take it or the new gamma squeeze effect can send it mooning is anyone's guess. Sky is truly the limit ( or the moon in WSB parlance ) but it has to come back down to earth eventually becau
Chances of long-term stability (Score:3)
GameStop builds an NFT platform. People spend lots of money buying NFTs on the platform. GameStop finally dies a few years down the road. Poof! There go all those NFTs!