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Steam is a ticking time bomb
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this post was submitted on 05 Apr 2024
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Technology
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The public doesn't understand NFTs, and scammers abused that.
[Distributed blockchain] NFTs were never stored on servers, the GIFs were never NFTs, and NFTs usually point to an IPFS URL (a P2P type "server"), which needs to be seeded by someone, doesn't matter who.
In a sane world, the owner of an NFT would seed the corresponding assets on IPFS, because it's in their own interest. Instead, people got swindled into "investing" in NFTs without having a clue of what they were doing... until the inevitable reality check struck them.
It's true that Steam popularized NFTs, hats, digital trading cards, and so on. Those things also existed before Steam, way before the "crypto" NFTs... and if we go further back, check Luther's rant in the XV century about how the Vatican was mass printing "NFT" indulgences.