Actually, Meeps, fwiw, I’m very interested in getting into NFTs for COG.
Now, before you jump down my throat, let me give some context.
First, we would not do it on the Ethereum blockchain. Ethereum does, as you say, waste a lot of energy. Specifically, Ethereum uses 42 kWh per transaction, or about 2.3 gallons of gasoline. Instead, we would mint NFTs on the XRP ledger, where transactions cost .0079 kWh, or about 0.00063 gallons of gasoline per transaction.
Second, the reason that we’d do it is to try and generate recurring revenue from the art that we produce for our games. Right now, we pay the artist a one-time fee, and then it’s functionally dead. But like artists producing lithographs or prints, it would be nice if there could be a recurring revenue from the art.
What I’m imagining is that we’d auction off the NFT of the art, with the artist taking at least half of the proceeds. This would be a payment on top of what we’d already paid to commission the art. Secondly, in the smart contract governing the NFT we’d put a royalty function, so every time the NFT was resold, a portion of the resale transaction would again go to the artist (and some to us and some to the author).
In the case of the artists that this would be benefiting, getting them a second and/or third payment on art that they’d already done, sometimes years later, would not be nothing. Imagine me going back to the guy who did the cover for Heroes Rise: The Prodigy, 9 years later, and telling him that he’s about to get another check for that work?
Yes, you’d need cryptocurrency in order to participate. But if we did it right, it would not be destructive to the environment, and it would help make being an artist for us a more sustainable endeavor.
Lastly, I know that the XRPL doesn’t have its NFTs up and running yet, but I expect them to have it in the next six months or so. Also, this is not a statement that COG will to this, rather a statement that I want COG to do this.