Since when Is Gaming an Investment?
I have never been a computer gamer. Its just not been my thing. With an 11-year-old boy, I struggle daily with time limits on gaming and the arguments it’s caused have now turned me off it. Whereas it didn’t bother me in the past.
Getting my head around an 11 year old boy spending hours gaming instead of playing outside and having fun with real people is one thing. But lately I have found my-self challenged with another side of gaming. A side of gaming that has me wondering ‘since when did gaming become an investment’ and ‘how can it even be considered an investment for players’?
To me a game is something you do for fun, to pass the time, to enhance skills and abilities. But now all of a sudden, I am seeing talk of investments. Is it just me or were games an investment before blockchain?
Poker is a game. I can play any time and it doesn’t have to cost me anything (bar a pack of cards cos im a tight ass). But I know some Poker players that play for money. Is that a gamble or an investment?
There are clear differences between gambling and investing
• Gambling is generally a short-lived activity which is time bound. whereas investing tends to be longer term
• You can not add a stop loss to a gamble, you either win or lose.
• You can’t hold a lost best until it turns in your favour and claim then.
• Investment generally transfers ownership in terms of shares or stocks
• Investment often pay dividends
To me a game of poker is a gamble. If you put money into a game with the expectation of some sort of return it’s a gamble, not an investment.
I read a post last week which kicked off these thoughts on 'how can a game be an investment’. The post was written by @samotonakatoshi and is titled DrugWars – A Ponzi Scheme Mafia Game (DO NOT INVEST)
https://steemit.com/drugwars/@samotonakatoshi/drugwars-ponzi-scheme-mafia-game-do-not-play-it
I would invite you to take a read and to read the comments. I think the title is very explanatory of the content and no need for me to expand further. But look, there is that word “Invest”!
Then last night I read a post by @davemccoy which I would also invite you to take a read of.
The title is not so explanatory but to sum it up quickly there are changes to steemmonsters to the extent that @davemccoy no longer sees it as an investment.
There’s that word again “investment”. I’d really like to understand the thinking behind the idea that a game on STEEM = investment and not a gamble. Can you explain it to me because I don’t understand?
To me Steemmonsters and Drugwars are games played for fun. The have added value because you can play using STEEM earned elsewhere. You might be lucky enough to earn a few of the steem you spend playing, back, a major plus of the blockchain that over and above other gaming platforms.
The add value to STEEM the blockchain because they use STEEM as a currency giving people more options on how the can use their STEEM. They also add value to the blockchain because the have the ability to reach their own unique audience and bring new users to the block. For these reasons alone they make games on STEEM an investible, and profitable business. But not an investment for the players. It’s an investment for the game developers and business behind the game. They are in it to make money, and so they should be. You are in it to play and have fun, or so you should be. Blockchain has not changed that, or am I missing something??
These are just some quick thoughts. I reserve the right to change my mind if someone gives an argument worthy of helping me make the change.
I think that it might be better to say that games on the Steem blockchain provide an opportunity to potentially earn rewards. Some people might consider that an investment. Some people might consider it income.
For example:
Are the digital assets on Steem a version of digital commodities? Honestly, it is still really hard to say, because we are redefining and/or creating new assets/exchanges of value that are not yet mainstream.
That is just my two sense worth. This is a great question that we may not know the answer to until after we have missed the opportunity.
so with steemmonsters, you get cards, which is ownership so in that way it ticks the box for investment. you can play with your cards for a long time right, so it also ticks the box of longer term, although tournaments are time bound right. I guess with steemmonsters there is some cross over from that view point
So you can earn from daily quests and you can earn based on season rewards. Seasons normally last 2 weeks. I have never entered a tournament, but I have earned rewards in the other 2 ways.
but what are you earning? steem or cards?
You earn cards, but those cards can be sold for Steem or SBD (depending on how the buyer chooses to make the purchase).
Cards are giving as a reward (for daily quests and season rewards) because they can be used to level up. It is part of the mechanics of the game.
If people win a tournament, then other prizes are available (Steem and SBD).
Games have been paying people to play for a long time and so in that sense, they can be viewed as an investment of time and/or money.
http://mediakix.com/2018/09/how-much-do-twitch-streamers-make/
looks like twitch, from its top ten earners figures, would have a longer left tailed curve than steem
Very likely :)
Those guys have invested a lot of time in becoming good at what they do, which is gaming - muddies the water a bit on distinguishing between gaming and investments? Or maybe i'm just trolling :D
Real Cash Economy games are just running around these days with the privilege of being a blockchain game. I've invested and even ran business within games for fiat profit in the past. It was an investment and I treated things like a business.
You weren't the hot looking chick selling me seeds on Second Life were you?
Na I only ever did fishing in SL. I was more into Entropia Universe. I somewhat miss the good old days of living off income being made in a game.
Enjar the time-travelling fishercat.
That does sounds like some good old days!
Ya, one time I help a friend win a spaceship worth 15-20k$ at the time.
That asset was used as a transpiration business for a while. flying common folks to millionaires from planet to planet. I mostly sign up to be the pilot when I had trade routes and business deals that where going in the same direction the ship needed to be. That was in Entropia of course.
Maybe everyone sees it as a way to grow their investment and are not playing it just because it's a game. I don't know as I have no clue how to play them anyway. I suppose if you are any good you will make a decent return.
yes some people are making returns and some are losing. and guess who has the edge, the house, not the players
I think you are spot on. Games are games. You can say that Steem Monsters and Drug Wars are Money Grabbers, but Ponzi Schemes? That's not a correct term.
thanks @trincowski, I happen to think I am spot on too lol, great minds :-)
I think the main problem is that every interaction with the Steem blockchain is seen as an investment. Rewards are available here, and so everyone is chasing rewards at all times. On other social media, you don't get rewarded, so it's seen as 'free-time' but because here you can get rewarded, it's seen as 'work'.
I think the required mental shift in the community is that we're here because we enjoy it, and any rewards are a special amazing bonus. It's highly unlikely that any company is going to pay us to play games, or make comments, or write non-advertisement posts... so what we're doing here isn't an investment in our time or finances... we've found a way to create value out of nothing... which really, is an incredible gift.
The investment is in the investing into the game, not playing the game in my opinion. Gaming is a lucrative industry, because it is a consumable, attention driven item. Those who are playing (I don't) these games are looking for a way to add to their stake, they aren't investing in my opinion though other than time and opportunity to do something useful :D
I think playing a game like that as a way to make value might take the fun out for some, add some fun for others. For me, all of Steem is a game and one that can hold up as an investment as well as offer enjoyment in learning and playing with the mechanics.
But you can also invest time and money into games by playing (indirectly too via training courses) to get better and potentially give yourself a better chance of return.
just play your games and ,shut up :D
I think that the creators have played the game well for earnings :)
The games play themselves so I have time to do other things, like think about writing a post and then find something else to do. Perhaps a few comments on the posts of these creators you speak of are in order :P
What kind of game plays itself?? That isn't playing?
Worst date ever :D
Some of the investment type ones.
I can be, you just have to play me right :P
I am investing into the game drugwars too! mostly a bit of time to check in each day and see if I have enough of anything to upgrade and as I am a tight ass I spent just a little steem on the first or second day. Why do I invest my time, well I was one of the few to know and play this before launch on a test net and I just want to continue showing my support for the team and for a bit of fun and competition and becuase its a hot topic and I have fomo. the fact i have made a profit as not swayed me in anyway to continue to play or stop, or how I play. its just an added bonus.
Well, long ago were the days in which I played the last computer game I played. In fact, cause same as @paulag and many others here I've never been a computer gamer nor a fan of computer games either.
However, according as 'investments' go, I've heard about some nice stories too. :o)
"Every possession is rented, your 5 minute lease is renewed with each heartbeat"
nice share with that video, very appropriate
My pleasure babe. :)
I know you enjoy my informative & educative audiovisual 'sharings' to illustrate further your point. };)
Drug wars is funner then magic dice. And isn't gambiling. Also i made roi on drug wars lol and magic dice
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which isnt gambling, magic dice or drug wars? and what is it and why?
Magic dice is gambiling. It's a game of chance no matter how far you put it into your favor you still have a chance of losing.
Drug wars is like any other Facebook game passing for upgrades. Depending on drug output you get paid. But I'm betting funds comes from people paying into those said upgrades. In the long run he is correct the more you pay into it is the only way people will continue to get payouts.
But both have this feature. The more people play and lose in magic dice the more go into the divs the more time you hold the more divs you get.
But in the same fashion if also if these games are scams. Then what does that make every single Tron game? Because most of them work on the same premise
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so its all blockchain games then. I havent tried game from other blocks.
They all seem to work the same. People pay in. Other people there before them profit. Unless you put in no money.
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It is gambling, but the curation part of STEEM is gambling too in a way. Any power up can also be considered a gamble.
Gambling is a very negative word, that's why they use 'Investment' instead, otherwise probably the makers of DrugWars/SteemMonsters would have legal issues as it's clear gambling and there's 0 warnings on their sites.
Buying shoes on eBay is also gambling. So is doing anything in your life (in some way). Warnings should be everywhere.
ohhhhhhhhhh never thought of that....the need for warnings about gambling :-)