Edward Snowden stated that “I think the community should try to bend the growth arc away from artificially creating unneeded scarcity for the benefit of some investors class.” Edward Snowden was a whistleblower from the National Security Agency. He expressed concern about the possibility that certain privileged individuals or organisations in the digital world would have the ability to use nonfungible tokens (or NFTs) in the gaming sector.

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Snowden stated that he has seen possible uses of nonfungible tokens for collecting donations to causes during a conversation with Gavin Wood on Friday at BlockDown DeData online. However, Snowden is worried about technology “creeping in to games”. The whistleblower described certain metaverse features as “horrible and vile” in an attempt to make money from virtual escapes. Someone is trying to [inject]Snowden stated that this fake scarcity could be transformed into a postscarcity atmosphere. “I think the community should work together to change the trajectory of growth and stop artificially creating unneeded scarcity just for the sake of a few investors.”

See also: Ubisoft will bring NFTs into in-game products this week

Wood appears to be disagreeing with Snowden’s claims about NFTs for gaming. He likens virtual artifacts to musicians who sell NFTs to their music. Snowden claimed that gamers are not paying for promised products, but instead for the chance to win something. This leaves the area open for abuse. Wood stated that “I don’t object to game companies restricting access to their products in the same ways they have done for decades.” NFTs seem to be a better way of restricting access to their product.”.

Snowden and Wood make these statements at a moment when many gaming companies are looking to expand their reach in the area of NFTs and digital assets.

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