Gaming the Systems: Non-Fungible Tokens and the Blurring of Gambling and Finance in Play-to-Earn Games
2022-11
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Gaming the Systems: Non-Fungible Tokens and the Blurring of Gambling and Finance in Play-to-Earn Games
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2022-11
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Non-fungible tokens (NFTs) are a form of digital asset that functions as a receipt or other representation of ownership. In more technical language, NFTs are a string of characters logged on a blockchain. NFTs’ relationship to artworks, gaming items and avatars, music, films, digital trading cards, and more suggests a direct relationship to media artifacts while broadening the parameters of what might be considered media through a process of digitization and further mediation. Applied to gaming software, NFTs act as a new form of monetization and further gambling’s role in the design of interactive media. This study examines two different NFT projects, developer Sky Mavis’ “Axie Infinity” and developer Virtually Human Studio’s “ZED Run”, to better understand the nature of NFT applications and their users. This study analyzes user activity in the applications’ associated Discord servers, public-facing platform documentation, and the applications themselves. This work examines the increasingly complex, marketized, commodified, ambiguous, volatile, and gamified reality of NFT applications. This work is less concerned with what users do or will do next and instead considers the experiences, feelings, and beliefs that inform user actions and reflect contextualizing factors explored in the literature review. Although gaming, gambling, and financial investment share similar motivations, they do exist as different topics of interest, necessitating the inquiry into users’ feelings and motivations with attention towards the extent with which those feelings align with the expressed purposes of the applications central to this study. Additionally, this work posits that the interests of capital (private property, accumulation, consumption, etc.) act as a form of external pressure or contextualizing factor that informs the actions of users of NFT games and applications. This study’s findings indicate a cultural climate defined by characteristics such as distrust, uncertainty, inequalities of power, exploitation, educational interest, financial desire, and the intertwined nature of systems and communities that may entertain, enrich, or extort.
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University of Minnesota M.A. thesis. November 2022. Major: Mass Communication. Advisor: Colin Agur. 1 computer file (PDF); vi, 162 pages.
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Zaucha, Trevor. (2022). Gaming the Systems: Non-Fungible Tokens and the Blurring of Gambling and Finance in Play-to-Earn Games. Retrieved from the University Digital Conservancy, https://hdl.handle.net/11299/252472.
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