NFTs are one of the most-hyped topics right now and poker players are well aware of it. Recently, many of them have been tweeting about those NFTs, and we are going to explain to you what it’s actually all about.
In the past couple of months, many professional poker players have been tweeting about various NFTs.
How long until Trump sues Twitter for damages after all his lost #NFT revenue? His tweets probably have more value than all other tweets combined
— Mike McDonald (@MikeMcDonald89) March 6, 2021
Mike McDonald is certainly one of the poker pros who are also heavily interested in cryptos and is frequently tweeting about new and upcoming trends.
Many people on Twitter have been discussing the potential use cases of NFTs in poker:
If PokerGO turns this into a Poker Top Shot NFT, they’ll make more money off of this hand than Hellmuth did. https://t.co/oOjH8O9CRB
— Lance Bradley (@Lance_Bradley) March 5, 2021
Even though many players have been tweeting about this hot topic, many users may still not aware of what NFTs actually are.
What is a non-fungible token (NFT)?
While cryptocurrencies like Bitcoin have been around for over a decade, NFTs are still a pretty new thing in the crypto space.
NFTS are unique cryptographic tokens that are not exchangeable – unlike Bitcoin or Tether. Therefore, there is no way of replicating or destroying them – they are also unique – which is pretty much the most important aspect of this new type of cryptocurrency.
Nowadays, there are many NFT available, and one of the most popular examples is the ethereum-based DApp CryptoKitties. Players can play the game and transfer their unique cats to other platforms as well.
NFTs can be used for different purposes, one of the most popular use cases are trading card games.
As you may have noticed in the past year there was a huge hype evolving surrounding Pokémon trading cards and the YouTuber Logan Paul who started purchasing Pokémon boxes for huge amounts of money and opened them on his YouTube channel.
While those trading cards can be counterfeited and there have been several cases of people getting scammed by purchasing fake trading cards, that’s not the case if you purchase NFTs.
Therefore, Paul has decided to partner with the decentralized exchange Bondly and created his own NFT. He sold $1 million worth of NFTs within the first 30 minutes after people had the chance to purchase the new cryptocurrency.
Poker and NFTs are a good match
NFT-based games and trading cards are one of the hottest topics on the internet at the moment and even huge soccer clubs are partnering up with new crypto companies.
$PSG Fan Tokens in high demand as the team makes it to the quarters!
Follow @socios and @Chiliz, prepare your $PSG and get ready for the new #NFTs coming to the https://t.co/yJwMOnnbOy app.#NFT #digitalcollectibles
⚡ $CHZ
— Paris Saint-Germain (@PSG_English) March 11, 2021
But why are poker and NFTs a good match though? Well, there are also multiple use cases for poker-related content.
The WSOP should create something like Top Shot for its NFTs 🔥
Would love to own some classic WSOP moments
— Joey Ingram 🇲🇽🇲🇽🇲🇽 (@Joeingram1) March 10, 2021
Joey Ingram came up with the idea of creating WSOP Top Shots that would feature some of the most iconic WSOP moments.
Twitter users loved the idea and quickly posted some of their favourite WSOP memories from the past.
However, not everybody was incredibly hyped about this idea:
Poker players: I’m not paying $10 a month to watch WSOP on PokerGO
Same poker player: A NFT of Tiffany Michelle calling clock in 2008 and it’s only $10k?
I’ll take it!!!— Scott Whitt (no, the other one) (@GreatScottTx) March 10, 2021
Another user also had some concerns regarding the rights of the individual clips
Good luck getting the rights to those clips 🤣
— drewamato (@drew_amato) March 10, 2021
The exact key dates have of course not yet been clarified, but it seems that this idea would certainly find takers.
Max Silver is another poker pro who got an idea in mind which is related to poker and NFTS, however, he did not reveal it yet.
Have a really dumb l/fun idea for a poker NFT, capable devs hmu
$250 reward if you refer a dev who ends up completing it
— Max Silver (@max_silver) March 10, 2021
No business case for poker-related NFTs?
The hype is certainly taking place right now and it’s quite likely that even more people will become aware of this new trend.
While most poker pros have been tweeting most positive things about poker-related NFTs, not all of them have been as hyped about this new trend:
Does anyone paying more than, say, a couple hundred bucks for an NFT actually think “This is so cool, I want to own it forever.” rather than “I hope I can flip this for a profit.”?
— Isaac Haxton (@ikepoker) February 28, 2021
Isaac Haxton suggested that most of the owners are actually just looking to flip those goods for a decent profit and Jamie Staples was one of the pros who didn’t see an actual business case for poker and NFT.
I thought about it in poker. Only thing I would want to own/trade outside gamification things that don’t need a block chain would be if poker hand histories became collectable. Owning isildurs biggest hands, with replays, would be cool. But no business case for poker + nft imo.
— Jaime Staples (@jaimestaples) February 28, 2021
Nevertheless, it’s safe to say that it is still a pretty new topic. Therefore there is still plenty of time left to come up with a great idea that involves poker and NFTs.
Especially the built-in protection from scammers who are trying to sell fake goods seems like a huge benefit.
Having unique items from a high-profile event such as the WSOP would certainly be interesting for many people.
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