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Home Crypto News Market Edward Snowden Criticized NFTs Role In Gaming Industry And Called Certain Aspects...

Edward Snowden Criticized NFTs Role In Gaming Industry And Called Certain Aspects of Metaverse “Horrible, And Tragic”

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Former NSA and US CIA officer Edward Snowden expressed concern while speaking with Ethereum co-founder Gavin Wood at the BlockDown DeData online conference (Video Below) about how developers or firms might misuse non-fungible tokens (NFTs) in the gaming industry.



He also called certain aspects of the metaverse “horrible, disgusting and tragic” because of the desire to capitalize on users’ escape from reality.

“We have people that are trying to [inject] an artificial sense of scarcity into a post-scarcity domain, I think the community should very much be trying to bend the arc of development away from injecting artificial, unnecessary scarcity entirely for the benefit of some investor class.”

Ethereum co-founder and Polkadot founder Gavin Wood disagreed with Snowden:

“I don’t have any issue with game developers restricting access to their product in the same way that they already have for decades before, I see NFTs as a more agile way of restricting access to their product.”

Snowden previously sold his first non-fungible token for 2,224 ETH. The digital artwork, called Stay Free, featured Snowden’s Platon portrait comprised of the court documents of the ruling in 2013 the violated the law when he exposed the NSA’s mass surveillance efforts.

At the end of November, Collins, a British dictionary, recognized the NFT abbreviation as the word of 2021.

 

Read More On Edward Snowden:

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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