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Piracy > resellers (lemmy.ca)
submitted 3 years ago by to c/piracy@lemmy.ml
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[–] 1 point 3 years ago* (1 child)

The blockchain has nothing to do with Gamestop's solvency as a company (which is not in doubt, BTW). It's Ethereum blockchain.

The last sentence of your comment sounds like you don't actually understand blockchain technology at all...

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  • [–] 2 points 3 years ago (1 child)

    I don't think anyone can say that Gamestop will definitely be around longer than people want to use these licenses they sell. And I hope the license isn't just a pointer to some Gamestop website that stores the licenses (re: standard NFT). But I don't trust any corporation to do something like this without building in some sort of backdoor to revoke licenses. Especially Gamestop.

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  • [–] -1 points 3 years ago (1 child)

    Your comment makes me think you don't get how the technology works. Ethereum blockchain will continue to exist whether Gamestop does or not...

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  • [–] 1 point 3 years ago (1 child)

    It doesn't matter if the blockchain is eternal, if this is a traditional NFT, it isn't stored in the blockchain. All you're buying is a link to a website where the NFT is stored. It doesn't matter if it's a license key, or a shitty computer generated picture of an anthropomorphic ape. When Gamestop decides to shut down the server (it will happen eventually), you lose access to your license key. If Gamestop allows you to copy your license key, you still lose access to your software when Gamestop shuts down the licensing server. I'm not sure the technology works the way you think it works.

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  • [–] 0 points 3 years ago* (last edited 3 years ago)

    Uhm... Sorry but you have a fundamental misunderstanding of how this tech works.

    NFTs are stored in a "wallet", the address is recorded on the blockchain. As long as you know your seed phrase (or other recovery key) it will be yours eternally. The NFT market is only a place to put buyers and sellers in the same spot. Even "in the market", the NFT lives at a blockchain address, someone else's wallet.

    That's why Gamestop can say "we're shutting down our wallet service. Get your recovery key and restore your NFTs elsewhere"

    Gamestop doesn't run a licensing server and probably won't. That's for publishers. Also, NFTs make licensing servers redundant.

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