On the last day of June, the European Commission adopted an interesting directive Mica. It was first introduced in 2020 and is expected to come into force in 2024. The document consists of 187 pages. Not all the main theses have yet been studied, but it looks like the final for the “wild west” and crypto-assets and this entire market will enter completely into the legal field.
Based on first impressions, I can say that at times it is tougher than the regulation of electronic currencies. But closer to the point, let's see how all this will be implemented.
Here are some examples:
- The whitepaper must be submitted to the authorities at least 20 days prior to publication for regulatory approval. Only then can it be promoted within the EU. (There are exceptions for projects up to 1 million euros).
- Crypto asset service providers will require permission and a license in the EU to operate. Even if you have a license in another country, you will need to follow the MiCA procedure (perhaps a more simplified system).
– Buyers of tokens will be able to return a token within 14 days if it is purchased directly and is not listed yet. - There will be requirements for the company's capital, staff training, and insurance coverage.
- Advisors must be certified for such activities.
- Wallets and dapps are responsible for the safety of tokens. If security is insufficient, the EU may suspend the activities of such a company.
- Those planning to offer crypto asset services must apply to the competent authority of the Member States in which they have a registered office for authorization as a service provider.
- And many, many interesting things that are expected to put an end to the "wild west".
NOW ABOUT THE CLASSICS
Have you heard about the scandalous release of Diablo Immortal? About that part with monetization?
If not, then get in my imaginary car to drive down memory lane. The insane case of Diablo could be a precedent for the start of tighter regulation of mobile games. these "bottomless holes" don't stop and come up with more and more sophisticated methods of sucking evergreens from users. It is understandable because nothing stops them, but why would they reduce their appetites? What is not forbidden is allowed, as they say, the rest is a matter of conscience.
Our trip starts from Belgium and the Netherlands. There are laws restricting the sale of loot boxes. And Blizzard Entertainment и NetEase took the unexpected step and decided not to remove the loot boxes in order to release the game in these countries, but simply refused to release it there. And as it turned out, for good reason. After the game came out, there was a wave, or rather a tsunami of indignation. The user rating on metacritic is about zero 0. In this regard, many enthusiasts began to consider how much it costs to fully upgrade a character?
Let's turn into reddit lane. At first, it was calculated that about $100k was needed to level one character. Which is already hoo for a mobile phone. But no, users have found a hidden awakening mechanic that unlocks 5! Additional slots, in which a total of 36 crystals are inserted. If fortune is favorable to you, then you can snatch them for $15000! Rough count It revealedthat the figure ranges from $540,000 - $1,000,000 PER CHARACTER AND IT'S POSITIONED AS FREE-TO-PLAY!
Even $100,000 for temporary use. Not ownership ... they do not provide IP in any form. It's just money for temporary use. Donation. You are not actually buying anything. You donate for the temporary use of skins without any serious and important guarantees for you.
We all know about the manipulation of game designers especially in mobile games. Some of them can be seen as analogous to casinos or sports betting on steroids. It is not clear why the regulatory framework is still not so harsh on such projects. You will pour in $1 million and own nothing. You might even get banned. And now the reaction of classic gamers to NFT is absolutely clear. FUCKED! And you are still here with expensive NFTs that make video cards more expensive and carbon footprint…
Due to the growing DONATES, it seems to them that they will have to spend even more. there is not enough understanding that NFTs will allow OWNING and BUYING DIGITAL GOODS. Yes, there is no smell of interoperability yet, and if the project is closed, then you will be left with NFT falling in price, but you will have NFT, despite the fact that the price will fall, but the value for you may still remain. Just like another popular physical thing that once depreciated, but you have it and you own it (figures, cards, etc.).
In addition, NFTs can still be used if the community or other developers have the will to allow these NFTs to be integrated or added as UGC (user-generated content) to the metaverse. There are many cases when the community created card games or mini-games based on NFT collections and crypto games.
Recap: We are at a point where it really hurts. Endless hacks and rag-pulls in the crypto and outrageous inhuman monetization in classic games plague and ruin the reputation of these areas. It is to be expected that everything will be tightened so much that 90% of the projects that survive will be washed off the market, and few will survive.
And in this regard, when the founders come to understand that strict rules cannot be avoided, there will be even more scams in the near future, because. it's easier to take the latter and we'll see more mergers, more acquisitions. And eventually the entropy will weaken. We are probably witnessing the last years of the “wild west”, standing at the threshold of mass adoption. BUT Blizzard и NetEase I wish FAIL, maybe a flick on the nose will sober them up, but I don’t hope so.
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