Asmongold shared his opinion on Non-Fungible Tokens (NFTs) during his latest stream. The streamer has historically been vocal about his dislike for digital assets.
NFTs are a blockchain trend where an individual is granted ownership of a digital art by registering to a blockchain. NFTs have caused quite a stir over the past few months, with major streamers coming out in opposition to them.
While reviewing Steam's latest decision to ban NFTs from its platform, Asmongold expressed his ongoing frustration with the popularity garnered by NFTs. The streamer discussed the potential endgame for NFT owners, stating that reselling is their only option.
"...sell it to somebody who's even dumber than they are, who will buy it for even more money."
Asmongold explains the gameplan for NFT owners
Asmongold was reviewing Reddit posts during his recent stream when he came across a thread on Steam's decision to ban NFTs. The streamer, who has previously shunned the digital assets, took the opportunity to explain to his viewers what he believed to be the plan for NFT owners.
His primary belief was that the NFTs were more of a speculative asset than an investment. Investors often buy these assets, including crypto, in the hopes of a rise in their value. This is done to gain profit through resale.
"Most of these people buy NFTs and cryptos and things like this, not because they're investing in it, but they're using it as a speculative asset, just to wait for it to increase in value and sell it again."
He clarified that most of these investors do not have any long-term interest in these products.
"There's no actual, you know, faith in the underlying product."
The endgame for these investors, the streamer passionately stated, was to gain an easy profit. The majority of streamers consider NFTs to be a scam, and Asmongold's statements resonated with this idea. He further stated:
"There is no idea of an endgame other than trying to figure out and sell it to somebody who's even dumber than they are, who will buy it for even more money."
Shifting his focus back to Steam's decision, the streamer exclaimed that NFTs should not be involved in the realm of video games. Agreeing with IGN's claims of “sketchy behavior” and “out of control” fraud with NFTs, he concluded that they would not add any positive impact to the community.
"I think that is the endgame for 99% of the NFT owners, and I think that it's just a better idea to just simply out of video games. I cannot see them adding any sort of positive impact."
The internet responds to Steam's decision to ban NFTs
While Asmongold remains in strong opposition to NFTs, plenty of others have vehemently come out in support of the digital tokens. Steam's decision to ban NFTs has received a mixed reaction, with several supporters of the decision and equally present cynics.
NFTs continue to remain a hot topic within the streaming community.
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