Not one more pledge: could the backlash encourage crypto-cowboys to keep pace?

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Oh great, my pants are NFT now.

Image: Ubisoft

Over the past few weeks, amid the usual back and forth of cryptocurrency supporters and skeptics, signs of a real user pullback towards the companies’ plans have had a real impact.

The banner block so far has been Discord’s last month’s hiatus on plans to integrate crypto wallets into its product, after users started dropping subscriptions en masse.

The big lesson here is that if users want to make an impact on the direction of a business, hitting them in the hip pocket works.

At the time of writing, another pair of pushback events are underway.

Kickstarter’s plan to essentially overhaul its core functionality on a distributed blockchain protocol, apparently for no good reason other than that it can, has not been fully welcomed, with the creators of comics, video games and others. music taking to social media to denounce the movement.

A webcomic studio, Hiveworks, has said it will turn its back on the crowdfunding platform if it goes blockchain.

“As a business, we are strongly against blockchain, including its use as a facilitation token for crowdfunding art projects, primarily in the form of NFT. It’s hard to see Kickstarter’s pivot to blockchain as something that will really help Kickstarter in its core mission – helping projects come to life, ”the studio said.

“If Kickstarter decides to go ahead with blockchain, we will switch to an internal pre-order system according to the creator’s preferences, which will be rolled out in association with the next Kickstarters that we have already scheduled.”

See Also: Volcano-Fueled Bitcoin City Could Be Bond’s Villainy Or State of Play in 2021

The other setback occurs against Ubisoft, which decided to add NFTs to its games, under the name Quartz.

On Thursday, Kotaku announced that the company had removed its Quartz ad video from YouTube after getting a 1 to 24 ratio.

The conditions of use of Quartz are absolutely beautiful.

Under section 7.3, Ubisoft states that any NFT, called Digits, will be processed on the Tezos blockchain – which is nascent and Ubisoft has no control over – before issuing the following warning:

Thus, you are informed that:

Ubisoft does not have the capacity to cancel or cancel transactions, Ubisoft has no liability to you or to any third party for any claim or damage that may arise as a result of any use of the Tezos blockchain network, payments or transactions you make, including but not limited to (a) any loss, damage or claim resulting from a malfunction, unintended function, or unexpected operation of Tezos’ blockchain network that may result in a malfunction or unexpected functioning of your Digits; or (b) any bug or vulnerability in smart contracts or their operation. Tezos’ blockchain network may be subject to specific weaknesses, which potentially make it the target of specific cybersecurity threats, Ubisoft is not responsible for the risks involved in the use of this new technology, and you are solely responsible for the storage. secure the private keys of your crypto-wallet.

Other than being able to withdraw more money from its very small user base, there doesn’t seem to be a single positive feature of the movement than its current skin and micro-transaction economy, and database, does not already handle.

For all the TV news shows looking for a cheap story to air during the holiday season, find the poor relative who learned that their child borrowed their credit card and turned into a Ghost Whale Recon NFT overnight without resorting to this transaction to be reversed.

Oops: BitMart Breach Losses Reach $ 200 Million

Over the past week, the governments of the United States and Australia have started to think about forming a proverbial group to take on the crypto-cowboy ecosystem.

Australia’s proposal to have all digital currency exchanges hold Australian investors’ money ashore, in addition to allowing such exchanges, will be of particular interest to non-Americans. This is not a quick fix, but it would hopefully alleviate the level of scam that happens to ordinary people in the crypto world.

When the Commonwealth Bank of Australia announced last month that it would be rolling out crypto transactions in its flagship banking app, my first thought was why the bank also doesn’t offer sports betting in its app. If customers are going to gamble their money, I figured they might as well play sports rather than staring at a trade ticker or eight.

But I’m starting to come to banks officially offering repeat customers a way to get into crypto through a licensed vendor with actual regulations hanging over them, especially after reading through the ABC about how a telecom entrepreneur managed to lose AU $ 457,000 through a fake trading platform scam.

If ordinary people want to invest in an elaborate Ponzi scheme, the least governments can do is make sure that they invest in a real bloated pyramid with few real use cases outside of money laundering and paying money. ransomware gangs, and not to lose it to the crooks and never own a single digital asset.

However, governments tend to act slowly, which is their nature, and Australia is due to hold an election in the first half of next year, so legislative progress on this front is still a long way off.

People’s power is much faster, and how Ubisoft and Kickstarter are responding to user pressure currently being put on them will clarify whether the blockchain march in the executive suite can be stopped.

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The Monday Morning Opener is our opening salvo for the tech week. Because we operate a global site, this editorial is posted on Mondays at 8:00 a.m. AEST in Sydney, Australia, which is 6:00 p.m. EST on Sundays in the United States. It is written by a member of the ZDNet Global Editorial Board, which is made up of our editors in Asia, Australia, Europe and North America.

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