Are NFT games also another way to gamble your money? - page 5.

ultrloa

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Quote from: Fredomago on August 19, 2021, 02:15:40 PM

Quote from: Oilacris on August 19, 2021, 12:39:36 PM

Quote from: South Park on August 19, 2021, 12:31:30 PM

Quote from: zanezane on August 18, 2021, 10:18:58 AM

I don't think not all of them, most of them involve some form of strategy so it already discounts the fact that NFT games are a way to gamble money. Take Axie Infinity for example, it's a skill based game with an element of chance in terms of cards, critical hit and skill of the opponent so it's not gambling.

I will have to check the game but if you are using money and there is an element of chance there that is completely outside of your control then we could say that you are gambling, after all if we took out the name of the game and people were trying to guess what kind of game you were describing many people would have guessed poker as it is a game of skill in which probabilities still play a huge factor, and it seems this game could be under the same classification as poker.

Seen lots of people just dive in just because of the hype on where they do end up on playing games directly without even trying to look on whose the team behind or the developer.Did see some rug pull projects which is really sad into those who do lost up big or tons of money when the owner had ran off all of those investments.

This is one of the risk when you do deal into something not just on NFT games but also with other forms of investment as well here on crypto market.Gambling on the essence that you are risking your
money but at least you could really make out some advantage if you had done your assignment.

If you are good at dealing with research and expect the good potential of a particular project, the chance for you to earn is high, but if you are just being moved by those hypes, expect that along the way you'll lose your money.

Another type of investment where risk is really present but if you are done with doing your DYOR and you see that there's a good team behind the project.

The chance for you to receive a good amount of compensation is there. Follow the team, it will add more ideas to what future will bring to your investment.

All type of investment is so risky so even if we Do our research still we cannot eliminate the risk but as long as we are riding the hype and go with those project who have good liquidities then provably we can get a little assurance that they will not rug pull easily and stay for quite sometime. Also always think about when investing is invest only what we can afford to lose and forget our money when we are in the platform so that we will not get hurt when all things goes bad between your investments.

Dread Pirate Roberts

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Quote from: uneng on August 19, 2021, 07:42:32 PM

It's not too risky depending the game. If it's a well developed game which people also play for fun and because the game is good the risk is lower. But if the game is just like a common site where players click few times a day to collect daily income then the risk is much higher. It's like low and high risk bets. Between both options I think it's better to invest in the first category, because they tend to last longer and make more success on long run.

Most of NFT games are built for their user ecosystem and not for players risk their money. so yes nft are less risk than gambling . the concept is play to earn. and of course capital is needed to start because basically this is a financial investment in a gaming system. maybe there is an NFT that provides gambling features like that. but what is popular today in NFT games are offers more user play to earn.

Oilacris

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Quote from: Fredomago on August 19, 2021, 02:15:40 PM

Quote from: Oilacris on August 19, 2021, 12:39:36 PM

Quote from: South Park on August 19, 2021, 12:31:30 PM

Quote from: zanezane on August 18, 2021, 10:18:58 AM

I don't think not all of them, most of them involve some form of strategy so it already discounts the fact that NFT games are a way to gamble money. Take Axie Infinity for example, it's a skill based game with an element of chance in terms of cards, critical hit and skill of the opponent so it's not gambling.

I will have to check the game but if you are using money and there is an element of chance there that is completely outside of your control then we could say that you are gambling, after all if we took out the name of the game and people were trying to guess what kind of game you were describing many people would have guessed poker as it is a game of skill in which probabilities still play a huge factor, and it seems this game could be under the same classification as poker.

Seen lots of people just dive in just because of the hype on where they do end up on playing games directly without even trying to look on whose the team behind or the developer.Did see some rug pull projects which is really sad into those who do lost up big or tons of money when the owner had ran off all of those investments.

This is one of the risk when you do deal into something not just on NFT games but also with other forms of investment as well here on crypto market.Gambling on the essence that you are risking your
money but at least you could really make out some advantage if you had done your assignment.

If you are good at dealing with research and expect the good potential of a particular project, the chance for you to earn is high, but if you are just being moved by those hypes, expect that along the way you'll lose your money.

Another type of investment where risk is really present but if you are done with doing your DYOR and you see that there's a good team behind the project.

The chance for you to receive a good amount of compensation is there. Follow the team, it will add more ideas to what future will bring to your investment.

Actually its really just too easy to say but choosing the best one would really be a hard thing to be considered but using up your common would also help on making out decisions specially to this.

You could at least make out presumptions that it would have potential.I do normally check out on their whitepaper and roadmap and look if they do actually able to follow it or else i would simply skip it.

For initial phase or talking literally into those games which had recently started then its hard to determine but somehow you can look basing up on UI/UX itself it its really worth the risk.

uneng

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Quote from: Peanutswar on August 19, 2021, 06:41:45 PM

IMHO it is an investment but they are the same with gambling because you are trying to risk your money and time too but it's not too much a risk because by this you need to keep yourself knowledgeable regarding the NFT game you want to invest with. If you don't see this game in any future why not step back and take the risk but if you think it's a good future investment why not try and take risks it's part of life. High risk-reward.

It's not too risky depending the game. If it's a well developed game which people also play for fun and because the game is good the risk is lower. But if the game is just like a common site where players click few times a day to collect daily income then the risk is much higher. It's like low and high risk bets. Between both options I think it's better to invest in the first category, because they tend to last longer and make more success on long run.

timerland

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I see it differently based on the nature of the project.

Stuff like pulling cards are completely random and therefore probably can be considered as gambling. Whereas picking individual projects to invest in does not necessarily constitute gambling in the traditional sense as if you have the right networks and insight you can certainly gain an edge over the rest of the crowd.

Is the latter still risky? Absolutely. But there are certainly prolific NFT investors that have shown that they have the strategy/platform to consistently pick winners - so it's speculation at best.

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IMHO it is an investment but they are the same with gambling because you are trying to risk your money and time too but it's not too much a risk because by this you need to keep yourself knowledgeable regarding the NFT game you want to invest with. If you don't see this game in any future why not step back and take the risk but if you think it's a good future investment why not try and take risks it's part of life. High risk-reward.

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The classic question about what is betting and what is investing. To be honest, I would like to say that there is a clear limit between the two but it is quite a blurred divide rather that something that is subject to definitions. I mostly consider that investing in, e.g. ETFs, is related to buying assets that are related to a productive activity that yields certain results.

For example, buying gold is betting or speculating, while buying stocks of Google is more like investing. This is admittedly very questionable.

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Quote from: Johnyz on August 19, 2021, 04:54:07 PM

Quote from: maju69 on August 19, 2021, 11:10:24 AM

Quote from: RokokGudangGaram on August 19, 2021, 12:46:57 AM

For me I think it's more better than gambling i think this NFT is more like an investment though of course there's still a risk, I see some NFT that offers high APY and gets abandoned by their developers and some NFT that its coin crashes too bad for people who bought NFT characters when the price is high, so more likely there's a risk but unlike gambling in long term you can earn profit in NFT.

Even then, if the NFT game project has many users and has a large enough size, many developers will be left behind because they are silent and do not have good judgment. Between having to gamble or playing NFT games, it comes down to user preferences. And we still persist in gambling.

That's right, this will still depend on how you see that NFT games but technically, those are not gambling its just you need to spend first before you able to get something in return and in some games, your gain is guaranteed since you can farm their own token that already has its value. If you think NFT tokens are too expensive and if that game is too expensive, better to wait for the price to dump before you invest.

Profit isnt giving any assurance but its just dumb for someone on investing into something which they dont consider out first if they do already have the token that people could really able to exchange on.
Gambling and Playing games had some differences comparing on how its been done but in the sense with the risk had been put up then you could say that it is really just the same on that sense.
Worth or not will really be depending on someones jurisdication if he do find out that it is really beneficial for him or not because not all will be having the same view.

YuginKadoya

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Quote from: Johnyz on August 19, 2021, 04:54:07 PM

Quote from: maju69 on August 19, 2021, 11:10:24 AM

Quote from: RokokGudangGaram on August 19, 2021, 12:46:57 AM

For me I think it's more better than gambling i think this NFT is more like an investment though of course there's still a risk, I see some NFT that offers high APY and gets abandoned by their developers and some NFT that its coin crashes too bad for people who bought NFT characters when the price is high, so more likely there's a risk but unlike gambling in long term you can earn profit in NFT.

Even then, if the NFT game project has many users and has a large enough size, many developers will be left behind because they are silent and do not have good judgment. Between having to gamble or playing NFT games, it comes down to user preferences. And we still persist in gambling.

That's right, this will still depend on how you see that NFT games but technically, those are not gambling its just you need to spend first before you able to get something in return and in some games, your gain is guaranteed since you can farm their own token that already has its value. If you think NFT tokens are too expensive and if that game is too expensive, better to wait for the price to dump before you invest.

It is not totally gambling per se, but a gamble on what may happen next in an NFT project is it going to be a success or a fail, the Author has said that it may be another way of gambling but not totally gambling like in a casino but I think is like a medium that surely NFT games sometimes have an element of gambling, just like in RNG pulls, example in Axie infinity the cards that you are pulling are all random, you can never know if you would pull a combo or not, in My Defi Pet, like I have said random pets will be given to you when you buy an egg.

Johnyz

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Quote from: maju69 on August 19, 2021, 11:10:24 AM

Quote from: RokokGudangGaram on August 19, 2021, 12:46:57 AM

For me I think it's more better than gambling i think this NFT is more like an investment though of course there's still a risk, I see some NFT that offers high APY and gets abandoned by their developers and some NFT that its coin crashes too bad for people who bought NFT characters when the price is high, so more likely there's a risk but unlike gambling in long term you can earn profit in NFT.

Even then, if the NFT game project has many users and has a large enough size, many developers will be left behind because they are silent and do not have good judgment. Between having to gamble or playing NFT games, it comes down to user preferences. And we still persist in gambling.

That's right, this will still depend on how you see that NFT games but technically, those are not gambling its just you need to spend first before you able to get something in return and in some games, your gain is guaranteed since you can farm their own token that already has its value. If you think NFT tokens are too expensive and if that game is too expensive, better to wait for the price to dump before you invest.

livingfree

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Quote from: agustina2 on August 18, 2021, 06:48:08 PM

Quote from: livingfree on August 18, 2021, 05:36:02 PM

They have to add feature of being viewable top games so that bookies will have their reference. I've seen Jihoz tweeted about different products so I think they're also thinking about it. Although, it's not included to the projects or products that he has posted but maybe there's an essence for it and they're looking after it too. But, they don't have to expose it right then.

On that part, we can't consider the gambling is not within the NFT games themselves.

If listed on betting sites, it's just the same as betting on sports. It's very different from what the topic is generalizing that NFT games are like gambling our money where in fact, it's not gambling after all since we are managing it and making sure that profits are sure.

It's about the feature.

We have already distinguished investing in NFT and gambling with those items and in-game rewards that are also cryptocurrencies. And I've given some example on my past post about it.

I think it's a good idea for them to add that soon.

YuginKadoya

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Well, this is just my opinion if you have invested in 1 of these NFT games and you surely don't have access to the future it is surely a gamble because each and every game that will eventually have earnings in the future or has earned right now, can surely run off with your money with them, they can surely promise a lot but it can eventually become a scam without you even noticing it, but if there are scam project there are surely legit once, and currently, I have invested with My Defi Pet, but I sure don't recommend any of you investing in it, I am saying invest responsibly just like gambling responsibly and a part of a gambling feature in this game is the random pet you can get when you bought an egg, you will never know if the pet will be a rare or not.

Fredomago

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Quote from: Oilacris on August 19, 2021, 12:39:36 PM

Quote from: South Park on August 19, 2021, 12:31:30 PM

Quote from: zanezane on August 18, 2021, 10:18:58 AM

I don't think not all of them, most of them involve some form of strategy so it already discounts the fact that NFT games are a way to gamble money. Take Axie Infinity for example, it's a skill based game with an element of chance in terms of cards, critical hit and skill of the opponent so it's not gambling.

I will have to check the game but if you are using money and there is an element of chance there that is completely outside of your control then we could say that you are gambling, after all if we took out the name of the game and people were trying to guess what kind of game you were describing many people would have guessed poker as it is a game of skill in which probabilities still play a huge factor, and it seems this game could be under the same classification as poker.

Seen lots of people just dive in just because of the hype on where they do end up on playing games directly without even trying to look on whose the team behind or the developer.Did see some rug pull projects which is really sad into those who do lost up big or tons of money when the owner had ran off all of those investments.

This is one of the risk when you do deal into something not just on NFT games but also with other forms of investment as well here on crypto market.Gambling on the essence that you are risking your
money but at least you could really make out some advantage if you had done your assignment.

If you are good at dealing with research and expect the good potential of a particular project, the chance for you to earn is high, but if you are just being moved by those hypes, expect that along the way you'll lose your money.

Another type of investment where risk is really present but if you are done with doing your DYOR and you see that there's a good team behind the project.

The chance for you to receive a good amount of compensation is there. Follow the team, it will add more ideas to what future will bring to your investment.

Oilacris

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Quote from: South Park on August 19, 2021, 12:31:30 PM

Quote from: zanezane on August 18, 2021, 10:18:58 AM

I don't think not all of them, most of them involve some form of strategy so it already discounts the fact that NFT games are a way to gamble money. Take Axie Infinity for example, it's a skill based game with an element of chance in terms of cards, critical hit and skill of the opponent so it's not gambling.

I will have to check the game but if you are using money and there is an element of chance there that is completely outside of your control then we could say that you are gambling, after all if we took out the name of the game and people were trying to guess what kind of game you were describing many people would have guessed poker as it is a game of skill in which probabilities still play a huge factor, and it seems this game could be under the same classification as poker.

Seen lots of people just dive in just because of the hype on where they do end up on playing games directly without even trying to look on whose the team behind or the developer.Did see some rug pull projects which is really sad into those who do lost up big or tons of money when the owner had ran off all of those investments.

This is one of the risk when you do deal into something not just on NFT games but also with other forms of investment as well here on crypto market.Gambling on the essence that you are risking your
money but at least you could really make out some advantage if you had done your assignment.

South Park

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Quote from: zanezane on August 18, 2021, 10:18:58 AM

I don't think not all of them, most of them involve some form of strategy so it already discounts the fact that NFT games are a way to gamble money. Take Axie Infinity for example, it's a skill based game with an element of chance in terms of cards, critical hit and skill of the opponent so it's not gambling.

I will have to check the game but if you are using money and there is an element of chance there that is completely outside of your control then we could say that you are gambling, after all if we took out the name of the game and people were trying to guess what kind of game you were describing many people would have guessed poker as it is a game of skill in which probabilities still play a huge factor, and it seems this game could be under the same classification as poker.

maju69

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Quote from: RokokGudangGaram on August 19, 2021, 12:46:57 AM

For me I think it's more better than gambling i think this NFT is more like an investment though of course there's still a risk, I see some NFT that offers high APY and gets abandoned by their developers and some NFT that its coin crashes too bad for people who bought NFT characters when the price is high, so more likely there's a risk but unlike gambling in long term you can earn profit in NFT.

Even then, if the NFT game project has many users and has a large enough size, many developers will be left behind because they are silent and do not have good judgment. Between having to gamble or playing NFT games, it comes down to user preferences. And we still persist in gambling.

Lanatsa

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Quote from: Dread Pirate Roberts on August 19, 2021, 07:53:31 AM

Quote from: Jackl87 on August 19, 2021, 05:13:34 AM

If you also want to join and play axies infinity then you need to own at least 3 axies. The last time i checked 1 axie did cost around 300 $, which means you need to invest 900 $ to even start the game with the absolute minimal Equipment.

before the price of axie goes up, you can still buy $20-100 per axie. now because the price is quite high compare few month ago its become another consideration to starting. but so far, axie still offers many things, such as there will be many updates in the future thats makes axie ecosystem is still worth it to join from now.

Lucky for those who had purchased axies when it wasn't still a play to earn thing which they do say that each axies do really cost $20 above and now when the time it got hyped then those prices do changed up and even that having staggering $1000 each when SLP is on its peak.

This is one of the advantage when you do really get in early or one of the pioneers of certain projects if it does have the potential to rise up in the future.
You could really be rich or neither do get or make big profits that you we're never been expecting on.

KTChampions

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Quote from: Dread Pirate Roberts on August 19, 2021, 07:53:31 AM

Quote from: Jackl87 on August 19, 2021, 05:13:34 AM

If you also want to join and play axies infinity then you need to own at least 3 axies. The last time i checked 1 axie did cost around 300 $, which means you need to invest 900 $ to even start the game with the absolute minimal Equipment.

before the price of axie goes up, you can still buy $20-100 per axie. now because the price is quite high compare few month ago its become another consideration to starting. but so far, axie still offers many things, such as there will be many updates in the future thats makes axie ecosystem is still worth it to join from now.

Any game that wants to develop should offer something free to start with. Even the $ 60-300 entry threshold is fatal in my opinion. If at the moment you need to spend $ 900 to start the game, then this is absurd and this state of affairs will harm the game. I am sure that soon there will be cheaper or even free analogs that will squeeze this game out of the market.

Dread Pirate Roberts

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Quote from: Jackl87 on August 19, 2021, 05:13:34 AM

If you also want to join and play axies infinity then you need to own at least 3 axies. The last time i checked 1 axie did cost around 300 $, which means you need to invest 900 $ to even start the game with the absolute minimal Equipment.

before the price of axie goes up, you can still buy $20-100 per axie. now because the price is quite high compare few month ago its become another consideration to starting. but so far, axie still offers many things, such as there will be many updates in the future thats makes axie ecosystem is still worth it to join from now.

Jackl87

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Quote from: DU18 on August 18, 2021, 11:02:06 AM

Quote from: zanezane on August 18, 2021, 10:18:58 AM

I don't think not all of them, most of them involve some form of strategy so it already discounts the fact that NFT games are a way to gamble money. Take Axie Infinity for example, it's a skill based game with an element of chance in terms of cards, critical hit and skill of the opponent so it's not gambling.

Axie game is a game that is quite popular for crypto lovers this year, and even many of its users dare to spend a lot of money to play on the game and in my opinion the game really provides a pretty fun playing experience, moreover we have many options to be able to get tokens , in a way that players can breed it, raise, and fight Axies in the universe.

If you also want to join and play axies infinity then you need to own at least 3 axies. The last time i checked 1 axie did cost around 300 $, which means you need to invest 900 $ to even start the game with the absolute minimal Equipment. To get that investment back if the prices for axies stay stable will probably take a few months and only after that you begin to make Profit. So i personally would not start with axies infinity now. If you do start now though then you basically make a bet that the prices of axies will remain stable or even grow within the next months so you can get your money back and add a little profit on top.

Topic: Are NFT games also another way to gamble your money? - page 5. (Read 2292 times)