CriptoPirâmides: demystifying NFT games like a pharaoh
Abstract
Games linked to blockchain and using NFTs (non-fungible tokens) are gaining popularity in the industry. Most of them follow a play-to-earn (P2E) business model, which promises players to earn money as they play. Because of this, these games are often associated with pyramid frauds and scams. A lot of information circulates about these games and systems, especially regarding their risks. This work seeks to clarify doubts about NFT games and raise the possibilities, risks and challenges they present to developers and players.
Keywords:
cryptocurrency, NFT, blockchain, play-to-earn, ponzi scheme
References
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Almohsen, A. and Banaweer, M. e. Players Trust and Awareness of Blockchain Gaming and NFTs.
Bartoletti, M., Carta, S., Cimoli, T., and Saia, R. (2020). Dissecting ponzi schemes on ethereum: Identification, analysis, and impact. Future Generation Computer Systems, 102:259–277.
Bi India Bureau (2021). NFT-based game MIR4 is all the rage despite ‘mostly negative’ reviews. Business Insider. Online; Publicado em 31 de Agosto de 2021.
Brustein, J. (2021). A Billion-Dollar Crypto Gaming Startup Promised Riches and Delivered Disaster. Bloomberg. Online; Publicado em 10 de Junho de 2022.
CoinDesk (2022). Jogos play-to-earn estão se perdendo; aqui está como consertá-los. InfoMoney. Online.
Culannay, R. C. (2022). Analysis on the factors that influence the investment on online crypto games. International Journal of Arts, Sciences and Education, 3(1):143–154.
Dowling, M. (2022a). Fertile land: Pricing non-fungible tokens. Finance Research Letters, 44:102096.
Dowling, M. (2022b). Is non-fungible token pricing driven by cryptocurrencies? Finance Research Letters.
Fantini, L. M. C. (2020). Precisamos realmente de Jogos Blockchain? Estudo a partir dos reflexos jurídicos da propriedade de criptoativos em jogos digitais. In XIX SBGames’20, pages 851–858. SBC.
Ferreira, E. R., Pimentel, C. A., and Melo, P. (2020). O Perfil Consumidor em Jogos Free-to-Play: Os Fatores de Influência na Decisão de Compra dos Jogadores em League of Legends. In XIX SBGames’20.
Fowler, A. and Pirker, J. (2021). Tokenfication-The Potential of Non-Fungible Tokens (NFT) for Game Development. In CHI PLAY ’21, page 152–157. ACM.
Francisco, D., Rodelas, C., and Ubaldo, T. (2022). The perception of filipinos on the advent of cryptocurrency and non-fungible token (nft) games. Journal of Computing Sciences Research, 6:1005–1018.
Guadamuz, A. (2022). These are not the apes you are looking for. Communications of ACM, 65(9):20–22.
Isbister, K. and Hodent, C. (2018). Interview: With nicolas pouard, vice president, strategic innovation lab, ubisoft. In Game Usability, pages 404–407. CRC Press.
Jesus, S. B. D., Austria, D., Marcelo, D. R., Ocampo, C., Tibudan, A. J., and Tus, J. (2022). Play-to-Earn: A Qualitative Analysis of the Experiences and Challenges Faced By Axie Infinity Online Gamers Amidst the COVID-19 Pandemic. International Journal of Psychology and Counseling, 12(1):391–424.
Jung, H.-S. and Jung, H.-W. (2021). A study on innovations and limitations of nft based games. In Proc. of the Conference of the Korea Entertainment Industry Association, pages 109–114. KOEN.
Mazur, M. (2021). Non-fungible tokens (nft). the analysis of risk and return. Available at SSRN 3953535.
Messias, J., Alzayat, M., Chandrasekaran, B., Gummadi, K. P., Loiseau, P., and Mislove, A. (2021). Selfish & opaque transaction ordering in the bitcoin blockchain: the case for chain neutrality. In IMC’21.
Mohanta, B. K., Panda, S. S., and Jena, D. (2018). An overview of smart contract and use cases in block-chain technology. In 2018 9th international conference on computing, communication and networking technologies (ICCCNT), pages 1–4. IEEE.
Nakamoto, S. (2008). A peer-to-peer electronic cash system. Bitcoin, https://bitcoin.org/, Outubro de 2022.
Orland, K. (2021). Ubisoft’s first NFT plans make no sense. Ars Technica. Online; 08/12/2021.
Soares, N. (2022). Play to Earn ou Play to Lose? Mais um NFT Game scam. Webticoin. Online; 28/01/2022.
Tomás, D. V. (2022). The new crypto niche: Nfts, play-to-earn, and metaverse tokens. Finance Research Letters.
Wang, N., Zhou, X., Lu, X., Guan, Z., Wu, L., Du, X., and Guizani, M. (2019). When energy trading meets blockchain in electrical power system: The state of the art. Applied Sciences, 9(8):1561.
Wang, Q., Li, R., Wang, Q., and Chen, S. (2021). Non-fungible token (nft): Overview, evaluation, opportunities and challenges.
Wood, G. (2014). A secure decentralised generalised transaction ledger. Ethereum project yellow paper.
Zetzsche, D. A., Arner, D. W., and Buckley, R. P. (2020). Decentralized finance. Journal of Financial Regulation, 6(2):172–203.
Published
2022-10-24
How to Cite
PIMENTEL, Clara; MELO, Philipe.
CriptoPirâmides: demystifying NFT games like a pharaoh. In: INDUSTRY TRACK – FULL PAPERS - BRAZILIAN SYMPOSIUM ON COMPUTER GAMES AND DIGITAL ENTERTAINMENT (SBGAMES), 21. , 2022, Natal/RN.
Anais [...].
Porto Alegre: Sociedade Brasileira de Computação,
2022
.
p. 1187-1196.
DOI: https://doi.org/10.5753/sbgames_estendido.2022.226144.
