Sunday, May 19, 2024

Gaming platforms launch online guide, pledge to create awareness of dangers of NFTS.

Gaming platforms, including the renowned Minecraft, have introduced an online guide and pledged to raise awareness of the dangers of NFTs and cryptocurrencies. Climate Replay, a group made up of developers from Mojang Studios – the maker of Minecraft, urged developers and gamers worldwide to sign its NFT pledge.

The pledge is written in the form of an instructional guide. It asked game developers to weigh the potential danger of non-fungible tokens on ecological, venal, and mental health grounds. The petition called out play-to-earn (P2E) games wherein users earn cryptocurrencies and NFTs by completing tasks or quests. It outlined that NFTs in gaming do not bring any meaningful value to the players.

The developers highlighted that gaming is supposed to be fun, and not work. They said that adopters of NFTs and other forms of digital ownership that embrace these problematic aspects erode efforts to create an equitable and sustainable existence for all. The petition has garnered 72 signatures in a week. Five organizations have also signed. The organizers of the pledge say it shows the thinking of a broad-based coalition of developers.

Cory Scheviak, the co-author of the pledge, explained that their goal is to act as a central informative, unbiased source of information on NFTs and blockchain. It also brings forth – the risks, environmental costs, and community/developer sentiment around NFTs and digital ownership. The group hopes to spread this around the industry and get as many companies and individuals, as possible, to sign.

The pledge or petition raises concerns about the environment around proof-of-work (PoW) blockchains that burn a huge amount of power. The guide did not mention Ethereum because its in the process of migrating to a proof-of-stake (PoS) consensus model. The PoS is said to exponentially reduce its carbon footprint. Developers have also raised concerns about the lack of security across the ecosystem. Some recent hacks have been the Axie Infinity’s Ronin Bridge – a loss of $600 million.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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