For those wondering why companies keep embracing NFTs/play-to-earn games despite the public outcry, here’s a good illustration as to why our opinions don’t matter: Peter Molyneux’s recently announced blockchain-based sim Legacy has already sold over $50 million worth of virtual land, with the most expensive plot selling for almost $1 million.
Molyneux, who was behind the likes of Fable, Theme Park, and Dungeon Keeper, recently announced that his 22cans studio is developing Legacy, a Sim City-like business sim described as “a creative entrepreneur’s dream” where players can buy land, build businesses, and sell/trade with others.”
Legacy isn’t set to launch until next year, but people can already buy land NFTs needed to start their own “blockchain business association” in the game when it arrives. Business owners have access to Legacy Keys, which can be lent to others who also want to start an in-game business, thereby forming a partnership. The borrowers will then share a portion of the LegacyCoin—new crypto built on the Ethereum blockchain—they earn with their partners.
The land plot NFTs went on sale over the weekend. As with many NFTs, they have been selling for huge sums: over $53 million in total has been made so far, reports RPS. The most expensive of these, called Heart of London, went for $900,000, incredibly.
NFTs are up there with the metaverse as tech’s hot button issue right now. Ubisoft’s announcement video for NFTs coming to Ghost Recon Breakpoint was overwhelmed with dislikes, EA has confirmed plans to embrace play-to-earn titles, and S.T.A.L.K.E.R. 2: Heart of Chernobyl will include NFTs.
Non-fungible tokens aren’t without risks. In addition to scams, there’s also the danger of human error like the one that cost a Bored Ape Yacht Club NFT owner $250,000 when he misplaced a decimal point. And they’re not always guaranteed moneymakers. Axios’ Stephen Totilo notes that the 19 Ghost Recon NFT gun skins he found on crypto marketplaces had selling prices of $639 to $423,000, but the highest offer anyone had made was $21.