A great many Web3 games are shutting down despite earlier receiving their base funding to begin game production and show off a working product.
https://www.cryptopolitan.com/ethereums-ember-sword-shuts-down/
News Article related to the post subject
The associated game tokens are hitting a zero value and any chance of making back investments are minimal. So what happens to the assets that are 'owned' by a participant?
Most project whitepapers tend to say the asset holder can 'sell, trade, burn, lock, or delegate,' the asset, among other things, but the asset often can't be used for personal promotion, as an identity, brand, or created and used in real life projects (3D printing a model of the asset or creating your own project based off the asset). I haven't read a project whitepaper in awhile but that was often the gist of it a few years back.
I hold some 'NFT' assets in games that are defunct, on break, or still being built up but with no recent news or announcement.
I could burn them for a minimal return but I would prefer to give the NFT asset that somebody spent time creating a better life than it's original purpose.
Is that silly to think? I mean it's like having a garage full of objects that still 'work' but have no purpose in it's original design. Many try to give the item another life like turning a stack of old baseball cards into the surface of a table or soldering metal pieces together to create an art piece or novelty item.
I had one instructor tell a group of people that their business was buying objects that people thought were junked (Lawn mowers, Sewing machines, old dental light up loops, ETC), cleaning them up and getting them in working order again before reselling it for triple the price and he was successful at it.
Web3 / Crypto is already a frontier that is full of junk (Altcoins, failed NFT projects, lost keys and transaction blocks,) and that clutter deters a lot of potential new participants. What is the best method to recycle these clumps so that damaged assets can bring back value to the ecosystem?
Something to ponder and if anyone has an idea please leave a comment. These assets can still have a value but the correct way to move forward is to understand what could be done with them beyond their original prospect.
Thank you for reading!