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Not everyone is ecstatic about NFTs and cryptocurrency.
"I categorically oppose NFT integration on Discord."
"I'm leaving immediately and switching to Slack if you integrate NFTs."
"I will leave Discord if you introduce NTFs or cryptocurrency to the platform."
This is only a snippet of the flood of comments left on Discord's website following the company's founder and CEO's indication that the community chat platform might integrate NFTs.
Discord's creator and CEO Jason Citron responded through Twitter on Monday to an entrepreneur Packy McCormick's newsletter. The article focuses on Discord's potential to become a future leader in the Web3 space.
Web3 is the buzzword being thrown around in the cryptocurrency and NFT field right now to promote the idea that the next version of the internet following the social media period (aka Web 2.0) will be decentralised. Web3 is essentially a blockchain-based version of the internet. One can understand why crypto and non-fungible token (NFT) proponents would be positive on this, as it would solidify their current investments as the future.
Numerous bitcoin and NFT enthusiasts believe the billion-dollar video game business is the killer industry that will bring their Web3 aspirations to life. Naturally, Discord is quite popular among gamers. They account for the lion's share of its user base.
Citron responded to McCormick's article-related Twitter tweet with two simple words and a screenshot.
"Probably nothing," Discord's founder tweeted alongside an image of an unpublished Discord feature that allows users to connect their Ethereum wallet to their Discord account.
Citron's indicated functionality appears to be akin to Twitter's NFT verification feature. Essentially, a user can connect their crypto wallets to the platform in order for their account to be automatically populated with the NFTs they own in order to showcase them publicly.
The Twitter response immediately gained traction, and the tone has been decidedly nasty.
Hundreds of new comments are being made every few minutes on Discord's customer care website for Nitro, its paid subscription programme, from customers expressing their opposition to the impending NFT move. Some customers have even cancelled their paid Nitro subscriptions in anticipation of the new feature.
"I've been using Discord all day, every day for years, but I'm going to stop using it immediately if it starts incorporating this pyramid scheme money laundering planet destroying evil inc. nonsense," read one of the several comments on Discord's Nitro support site. "What are you thinking, literally?"
The majority of anti-NFT sentiment is motivated by a few significant issues. Some users have expressed concern about the large number of cryptocurrency-related scams that have already infiltrated Discord channels. According to them, implementing a cryptocurrency wallet would simply serve to legitimise the scammers.
Others emphasise the negative environmental impact of NFTs. On the Ethereum blockchain, NFTs are traded. According to a July Fortune article, "a single Ethereum transaction consumes the same amount of electricity as an ordinary US household consumes for a workweek."
However, there is something more to gamers' resistance to NFTs. To have a better idea, take a look at this recent Bloomberg post that speculates on the future of NFTs and crypto.
The essay includes a real-world example of a former Goldman Sachs employee who is now establishing a business around the NFT-based game Axie Infinity. To play the game, at least one of its NFTs must be purchased, which costs hundreds of dollars. According to Bloomberg, the former Wall Street executive purchases the NFTs and then grants a "scholarship" to people who cannot afford them. Essentially, they get to use his NFTs to play the game, but they must share all of their in-game bitcoin winnings with him.
Another example from the Bloomberg piece is a hypothetical scenario in which NFT buyers can acquire Mario Kart characters and prevent them from being used in any other game.
Oh, you're not interested in a single wealthy individual being able to play as Mario in an entire video game series? Numerous gamers continue to be vehemently opposed to microtransactions in video games. Not only do NFTs increase the cost of gaming, but they also have the potential to completely exclude players from particular experiences due to the exclusivity that NFTs provide for those who can purchase them.
Discord is not the only site that have faced flak this week over proposed connections with NFTs and cryptocurrency.
A Reddit programmer recently wrote a tweet thread revealing the popular platform's impending integration of Bitcoin functionality.
Reddit users were so outspoken in their opposition to the proposal that the Reddit employee promptly removed all of his tweets promoting the initiative.
Mashable has contacted Discord and Reddit for additional information about their cryptocurrency and NFTs plans, as well as to remark on their users' reactions. When we receive additional information, we will update this story.
Web3 proponents can spin things however they want, but to the majority of web users, Web3 appears to be an attempt to commodify everything in the digital domain. That favourite video game you enjoy to unwind at the end of a long day is now a stock-like asset. Your favourite memes are no longer meant to be shared widely; instead, it's all about who paid the most crypto cash to claim ownership of them.
Only a little more than a decade ago, social news portal Digg ruled the online realm. Then Digg imposed a redesign on its users, driving away even its most ardent fans to a then-young website called Reddit.
History has a proclivity for repetition. Platforms such as Reddit and Discord would be wise to listen to their users.
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By Crypto PiratesNot everyone is ecstatic about NFTs and cryptocurrency.
"I categorically oppose NFT integration on Discord."
"I'm leaving immediately and switching to Slack if you integrate NFTs."
"I will leave Discord if you introduce NTFs or cryptocurrency to the platform."
This is only a snippet of the flood of comments left on Discord's website following the company's founder and CEO's indication that the community chat platform might integrate NFTs.
Discord's creator and CEO Jason Citron responded through Twitter on Monday to an entrepreneur Packy McCormick's newsletter. The article focuses on Discord's potential to become a future leader in the Web3 space.
Web3 is the buzzword being thrown around in the cryptocurrency and NFT field right now to promote the idea that the next version of the internet following the social media period (aka Web 2.0) will be decentralised. Web3 is essentially a blockchain-based version of the internet. One can understand why crypto and non-fungible token (NFT) proponents would be positive on this, as it would solidify their current investments as the future.
Numerous bitcoin and NFT enthusiasts believe the billion-dollar video game business is the killer industry that will bring their Web3 aspirations to life. Naturally, Discord is quite popular among gamers. They account for the lion's share of its user base.
Citron responded to McCormick's article-related Twitter tweet with two simple words and a screenshot.
"Probably nothing," Discord's founder tweeted alongside an image of an unpublished Discord feature that allows users to connect their Ethereum wallet to their Discord account.
Citron's indicated functionality appears to be akin to Twitter's NFT verification feature. Essentially, a user can connect their crypto wallets to the platform in order for their account to be automatically populated with the NFTs they own in order to showcase them publicly.
The Twitter response immediately gained traction, and the tone has been decidedly nasty.
Hundreds of new comments are being made every few minutes on Discord's customer care website for Nitro, its paid subscription programme, from customers expressing their opposition to the impending NFT move. Some customers have even cancelled their paid Nitro subscriptions in anticipation of the new feature.
"I've been using Discord all day, every day for years, but I'm going to stop using it immediately if it starts incorporating this pyramid scheme money laundering planet destroying evil inc. nonsense," read one of the several comments on Discord's Nitro support site. "What are you thinking, literally?"
The majority of anti-NFT sentiment is motivated by a few significant issues. Some users have expressed concern about the large number of cryptocurrency-related scams that have already infiltrated Discord channels. According to them, implementing a cryptocurrency wallet would simply serve to legitimise the scammers.
Others emphasise the negative environmental impact of NFTs. On the Ethereum blockchain, NFTs are traded. According to a July Fortune article, "a single Ethereum transaction consumes the same amount of electricity as an ordinary US household consumes for a workweek."
However, there is something more to gamers' resistance to NFTs. To have a better idea, take a look at this recent Bloomberg post that speculates on the future of NFTs and crypto.
The essay includes a real-world example of a former Goldman Sachs employee who is now establishing a business around the NFT-based game Axie Infinity. To play the game, at least one of its NFTs must be purchased, which costs hundreds of dollars. According to Bloomberg, the former Wall Street executive purchases the NFTs and then grants a "scholarship" to people who cannot afford them. Essentially, they get to use his NFTs to play the game, but they must share all of their in-game bitcoin winnings with him.
Another example from the Bloomberg piece is a hypothetical scenario in which NFT buyers can acquire Mario Kart characters and prevent them from being used in any other game.
Oh, you're not interested in a single wealthy individual being able to play as Mario in an entire video game series? Numerous gamers continue to be vehemently opposed to microtransactions in video games. Not only do NFTs increase the cost of gaming, but they also have the potential to completely exclude players from particular experiences due to the exclusivity that NFTs provide for those who can purchase them.
Discord is not the only site that have faced flak this week over proposed connections with NFTs and cryptocurrency.
A Reddit programmer recently wrote a tweet thread revealing the popular platform's impending integration of Bitcoin functionality.
Reddit users were so outspoken in their opposition to the proposal that the Reddit employee promptly removed all of his tweets promoting the initiative.
Mashable has contacted Discord and Reddit for additional information about their cryptocurrency and NFTs plans, as well as to remark on their users' reactions. When we receive additional information, we will update this story.
Web3 proponents can spin things however they want, but to the majority of web users, Web3 appears to be an attempt to commodify everything in the digital domain. That favourite video game you enjoy to unwind at the end of a long day is now a stock-like asset. Your favourite memes are no longer meant to be shared widely; instead, it's all about who paid the most crypto cash to claim ownership of them.
Only a little more than a decade ago, social news portal Digg ruled the online realm. Then Digg imposed a redesign on its users, driving away even its most ardent fans to a then-young website called Reddit.
History has a proclivity for repetition. Platforms such as Reddit and Discord would be wise to listen to their users.
Support us!