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Author Topic: Play to earn projects can be regulated too?  (Read 205 times)
Outhue (OP)
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October 01, 2022, 03:43:37 PM
 #1

How many of you guys are into play to earn projects? I am sure you must have heard of GameFi, it's shocking that Wonder Hero, a play to earn game that I have been following since last year and also an investor release a news today that GameFi projects are been regulated which makes this project to be temporarily unavailable for download.



I have never for once thought that gaming projects can be regulated, what the hell is going on?. 

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October 01, 2022, 05:13:35 PM
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 #2

Most defi platforms use centralised structures to deliver their platforms (like traditional Web hosting and dns over having peer to peer hosting mechanisms). A lot of the NFTs can be sold in a decentralised way once they're created on those platforms but if the devs decide to change smart contracts there's little you can do about it (aside from selling the tokens and coins).

There are probably ways to actually avoid this and work directly with the smart contracts but they're probably not as fun graphics wise.
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October 02, 2022, 02:15:13 AM
 #3

I am into couple on hive blockchain but hive blockchain itself is kind of underdog so regulators don't bother with it I guess  Tongue

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October 02, 2022, 05:55:19 AM
 #4

I have never used such projects but historically there have been other services that claimed to be regulated to attract users by looking legitimate. For example some online gambling sites (dice and poker) made such claims to give their users a false sense of security so that they would invest their money and also fill out KYC!

But as the possibility of it, whenever there is centralization involved it can be regulated.

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October 02, 2022, 04:10:08 PM
 #5

Well, it has happened before exactly, and it is expected that GameFi become regulated. If we take a look at Axie Infinity, which due to its popularity, it gives a huge incentive for users, especially those who are in third-world countries. Back then, the game was popular among Filipinas, and as in result, local tax authorities are keeping an eye on Axie players to adhere the applicable tax law within the country.

But for this particular case, which I'm not aware of the project but judging by the given screenshot, it seems like it might come due to Apple Store policy about a game that incorporates cryptocurrencies. But the point is, if there crowd are onto something, there will be a regulation about it.
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October 02, 2022, 11:32:57 PM
 #6

It's still a game, there should be active developers which means that they should be up to date and they are there to maintain the game itself so, they are the central authority of it thus, regulators can step in and do whatever they want.

Not just because you earn crypto tokens from those games, they can avoid regulations, no. That's not how it goes and the regulators have much more eyes on these projects if they're generating tokens that can be traded into cash.

Expect that there will be more of it when they get their eyes centered for gamefi projects.

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October 02, 2022, 11:34:27 PM
 #7

Regulation won't make these things that much better/worse or different. It's the fact that P2E games are fucking awful with completely unsustainable economic ecosystems as they are presently built.

Until you can eliminate these poor countries siphoning out money and/or make a blockchain mechanism actually make sense, these games will never last long term.




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October 05, 2022, 02:53:45 PM
 #8

Why you need to worry? any centralized project can be regulated regardless what's the name like ICO, IDO, IEO, DEFI, NFT, P2E etc.

Actually after the project get regulated, they will be more strict regarding the personal information and might not allow multiple accounts. But in the other way, the project might survive much longer if there's a country support the games. Government are fan of control anything that has a good traffic and promote it to get money from investors.



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October 05, 2022, 11:32:04 PM
 #9

Why you need to worry? any centralized project can be regulated regardless what's the name like ICO, IDO, IEO, DEFI, NFT, P2E etc.

Actually after the project get regulated, they will be more strict regarding the personal information and might not allow multiple accounts. But in the other way, the project might survive much longer if there's a country support the games. Government are fan of control anything that has a good traffic and promote it to get money from investors.
Anything that can be touched by the government or making use of centralized services and other means will really be having the chance for it to be regulated and this isnt a surprise.

Just because it does have that essence of being decentralized does means that everything would really be totally anonymous or something that cant really be traced up or something.

I dont have any experience about on what OP been mentioning but to make out some presumption on the condition which its neither they are telling the truth
or they are just simply making some alibis just not to make things on running.  Grin

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October 06, 2022, 01:37:53 PM
 #10

Totally agree with you, why worry about regulation when the developers can't even sustain the growth of their works which leaves people floating in air thinking that they can probably change their life when they get into that game. I think besides @theskillzthatkllz's solution, maybe future P2E developers need to at least make a game that the people actually like to play as if they are playing a normal game.
I agree and there's not that much focused on the earning part. Gamers will play the games that they like as long as it's playable and enjoyable. Lately, with the hype of the P2E games, most players of it were just forced to play it because there's an earning opportunity.
But remove that and for sure those players will be lessened everyday. Make the games enjoyable and fun and the players will stay whether there's a reward or there's none.

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October 06, 2022, 11:55:23 PM
 #11

Yes it can be regulated to especially if US or even the country where the project originated interfere the operation of the project and ask some requirements so that they can continue to operate. And this is good because we will know if the project can really provide what government required them to do before they can legally operate and as well we can see how serious the dev to sustain their project.

R


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October 09, 2022, 06:55:30 PM
 #12

How many of you guys are into play to earn projects? I am sure you must have heard of GameFi, it's shocking that Wonder Hero, a play to earn game that I have been following since last year and also an investor release a news today that GameFi projects are been regulated which makes this project to be temporarily unavailable for download.



I have never for once thought that gaming projects can be regulated, what the hell is going on?. 
I am not really into play to earn but I am somehow updated on some of them because I hang out most of my time in the forum and on other crypto-related sites. Crypto regulations are now becoming a trend. If you mostly hang out on the forum then you will be aware of that and won't really shock you that some services are now being regulated or will be regulated after some time.

It is said on the pic that only new users are only going to be affected but existing users can still continue playing the game so don't worry too much. I think regulation can only add an extra layer of security. Isn't that great? Although you may be required to do a KYC later on which can be a big deal to some.

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