Busting myths about blockchain, NFTs, and play-and-earn monetization for games

Busting myths about blockchain, NFTs, and play-and-earn monetization for games

There are a lot of misconceptions, misunderstandings, and myths around blockchain, NFTs, and as a result, play-and-earn game monetization.  Here are the four most common myths which people cling to and information to set the record straight.

Myth 1:  Blockchain and NFTs are terrible for the environment

This is the single most widely believed myth about Blockchain and NFTs and stems from the first two blockchains which were widely adopted, Bitcoin and Ethereum. These utilize Proof-of-Work protocols, which consume a lot of energy and are bad for the environment.  But these blockchains represent only a small fraction of all current blockchain activity (and Bitcoin can’t support NFTs making it pretty much irrelevant to conversations around play-and-earn games).

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