CCP Games' CEO Says Online Gaming Content 'Should Have Practical Values In The Real World' | MMORPG.

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CCP Games' CEO Says Online Gaming Content 'Should Have Practical Values In The Real World' | MMORPG.com

NFTs and other blockchain technologies are making their way furiously into gaming, so it's not a shock when a company's CEO comes out talking about them. CCP Games' Hilmar Viegar Pétursson recently signaled his belief in the idea that NFTs and Play to Earn models can and should be an option for those gamers who want them, stating in an interview with The Korea Economic Daily that gamers should be able to 'make retirement plans' off the money earned through gameplay.

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Tiller

I think this would actually work well in a game like EVE.

Kyleran

Absolutely, EVE Online is great training for running your own street gang, secret terror cell or mega corporation.

Theocritus

"gamers should be able to 'make retirement plans' off the money earned through gameplay."

OK the trap is set...Let's see who takes the bait.......

Talmien

If you play games to earn a retirement, and you play games after you retire, are you really retired?

Jamar870

With this statement "gamers should be able to 'make retirement plans' off the money earned through gameplay.".  Queue up the Beatles song "Taxman".  The taxing authorities in alot of places would probably start looking hard at games if they can do that.

fearu

Inevitable that Eve was going to also jump on this scamwagon. What he really means is so that he can retire early after he's pulled the ultimate Jita scam, just gotta wait for the heat to die down and let Ubisoft blaze the shit trail first.

vegetableoil

Kyleran said:

Absolutely, EVE Online is great training for running your own street gang, secret terror cell or mega corporation.

you can learn capitalism supply and demand, put a choke point in the mining line all of a sudden your can charge multiple times the normal price. Oh wait, it's actually happening right now in real life shipping cost has risen by 10x. must be eve players.

bcbully

And I bet they do it right. They've already done nft created from kills. NFTs for being good at the game. NFTs minted through normal game play. Capturing value in something that's always been there but not tangable. 

UBI soft wrong. Play 600 hour doing good bad whatever and you get some crap skin.

bcbully

Jamar870 said:

With this statement "gamers should be able to 'make retirement plans' off the money earned through gameplay.".  Queue up the Beatles song "Taxman".  The taxing authorities in alot of places would probably start looking hard at games if they can do that.

Paying taxes on something is a hell of a lot better than paying nothing on nothing

mklinic

I'm envious of all the bots that will inevitably be able to retire early with this sort of scheme.

olepi

It will be interesting to see what kind of community comes from this. Imagine looting a player's real retirement savings in a game.

Utinni

Can't wait to declare which games I play to the IRS in a few years. Thanks greedy publishers.

Mendel

I expect that the only people retiring from this 'feature' will be developers and publishers.  Rarely players.

kitarad

I think we always never quite factor in the most overlooked resource.... our time.

TheDalaiBomba

kitarad said:

I think we always never quite factor in the most overlooked resource.... our time.

Far too many people overlook this.  You can always make more money.  You can't ever make more time.

Aeander

I see this going very wrong, very fast. Let's say that the proposed NFT tax goes into effect. Which it should in some form, because all income should be taxed.

My understanding is that NFTs are taxed as income based on value on obtaining them. So you earn an NFT worth $1000 in a game, but then the value craters as crypto currencies often do. Suddenly, you're on the hook for $1000 of income you don't actually have, for no reason other than that you played a video game.

bcbully

Aeander said:

I see this going very wrong, very fast. Let's say that the proposed NFT tax goes into effect. Which it should in some form, because all income should be taxed.

My understanding is that NFTs are taxed as income based on value on obtaining them. So you earn an NFT worth $1000 in a game, but then the value craters as crypto currencies often do. Suddenly, you're on the hook for $1000 of income you don't actually have, for no reason other than that you played a video game.

If ever tax regulation does come, you wont be taxed on unrealized gains. Earning an NFT that you do not sell triggers no taxable action. 

Imagine an unrealized gains tax. A baker who bakes a cake would inccure a tax.

DigDuggy

Tiller said:

I think this would actually work well in a game like EVE.

I can't wait for the cnn headline.  EVE player starts dummy corp and fleeces people out of 100k real world assets.

olepi

One time in PoTBS, our guild had tracked down and cornered a courier boat. In PoTBS, you can loot the contents if you sink the boat. The guy started begging us, saying he was a deed farmer for money, and his boat was full of ship deeds. He'd be fired or worse if we took them all. Could he just pay us off?

We decided to take pity, and just got $100,000 in PoTBS money from him. But what if in the game those deeds were worth real money?

bcbully

olepi said:

One time in PoTBS, our guild had tracked down and cornered a courier boat. In PoTBS, you can loot the contents if you sink the boat. The guy started begging us, saying he was a deed farmer for money, and his boat was full of ship deeds. He'd be fired or worse if we took them all. Could he just pay us off?

We decided to take pity, and just got $100,000 in PoTBS money from him. But what if in the game those deeds were worth real money?

WhiteLantern

bcbully said:

Aeander said:

I see this going very wrong, very fast. Let's say that the proposed NFT tax goes into effect. Which it should in some form, because all income should be taxed.

My understanding is that NFTs are taxed as income based on value on obtaining them. So you earn an NFT worth $1000 in a game, but then the value craters as crypto currencies often do. Suddenly, you're on the hook for $1000 of income you don't actually have, for no reason other than that you played a video game.

If ever tax regulation does come, you wont be taxed on unrealized gains. Earning an NFT that you do not sell triggers no taxable action. 

Imagine an unrealized gains tax. A baker who bakes a cake would inccure a tax.

While I agree that is absurd, I recently read an article about the struggling Marijuana industry in Alaska. Apparently when they legalized it there, they thought it would be a good idea to tax the production rather than the sale of it. Thus, a low potency crop that won't sell as well gets taxed at the same rate as a high potency crop.

Never underestimate the stupidity of elected officials.

hyllyh

i got litterally trillions isks sleeping on this game and was tempted many time to RMT them but if they come this way with NFT, it will be more simple for me ^^

wait and see.

WarWitch

Does anyone remember EQ Exchange servers where we could sell anything legaly? Characters even. It was so before its time but EQ was riped off so heavily with cc fraud they had to stop.

Kyleran

bcbully said:

Aeander said:

I see this going very wrong, very fast. Let's say that the proposed NFT tax goes into effect. Which it should in some form, because all income should be taxed.

My understanding is that NFTs are taxed as income based on value on obtaining them. So you earn an NFT worth $1000 in a game, but then the value craters as crypto currencies often do. Suddenly, you're on the hook for $1000 of income you don't actually have, for no reason other than that you played a video game.

If ever tax regulation does come, you wont be taxed on unrealized gains. Earning an NFT that you do not sell triggers no taxable action. 

Imagine an unrealized gains tax. A baker who bakes a cake would inccure a tax.

What about taxing virtual property?

In real life property taxes are based on lands highest possible use.

Partial exemptions on it's value are given if one "lives" on the land, and one can get big exemptions if the land is used as agricultural.

Not unusual to see a piece of property with cows grazing on it in the middle of a completely developed area.

Imagine if all of these sorts of shenanigans come to gaming.

As for your cake example, VAT or sales taxes would have been already collected on the ingredients, water, electricity and wages used to bake it, even if the cake never gets sold.

Big fun ahead I think...

Oh yeah, come to think of it, block chain should make it much easier to identify when and who to tax in each step due to everything being assigned unique identifiers....

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