Edward Snowden, the National Security Agency whistleblower, expressed his concerns over the risk of some privileged firms or individuals’ potential to misuse Nonfungible tokens (NFTs) in the gaming space.
Snowden claimed he has seen potential use cases for nonfungible tokens to fundraise for causes when talking with Ethereum co-founder Gavin Wood at the BlockDown DeData online conference on Friday, but he is worried about the technology “creeping into gaming.” For attempting to profit from users’ virtual escapes, the whistleblower called certain elements of the metaverse “horrible, heinous, and tragic.” He further stated:
“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 finds NFTs as an agile way to restrict access
Ethereum co-founder expressed disagreement with Snowden regarding the NFTs in gaming and equated virtual art in games to artists selling NFTs of their own music. Wood stated:
“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.”
Recently the gaming platform Sandbox secured huge investment, surging the price of its native token. The remarks come as gaming companies appear to be extending a wider net for the adoption of NFTs and virtual assets.
Edward Snowden is known for paying his servers with BTC, who used to leak thousands of documents to journalists before leaving the US. He has continued giving comments on different subjects in the crypto world since 2013. He recently called CBDCs an “evil twin” of cryptocurrencies amid the intensified regulatory actions.