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RE: The internet of things and the tokenization of everything

in LeoFinance9 months ago

Unfortunately Enjin right now only works as a speculative asset. It is unusable because of high gas fees. How viable is your technology if you want to sell an NFT worth 10$ while you pay a fee of 10-15$ (number is going higher the more eth price rises). I have maybe 5-6k worth of ENJ if I sell all my NFTs. The most bonkers part of that equation is that I need to pay more in gas fees than all that ENJ is worth. So right now holding any Enjin nft means you're locked inside a gas fee hell unable to do anything until Ethereum or Enjin scales (not this year probably).

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Yep, this is the issue with everything on Ethereum at this point, but it doesn't stop the infrastructure from running tests for that future. Would be nice if this was all getting done on Hive though, wouldn't it?

I am guessing cryptokitties aren't moving much at the moment :D

At the moment, I am just speculating on it btw, never used it for anything. Pretty much, the only thing I use is Hive, which I use for the on platform social interaction and gamification.

Posted Using LeoFinance Beta

Hive would have it's own set of problems, what kind of problems we won't know until they happen. Even though there is some usage on Hive who knows how Hive would scale with millions of daily users (if it ever comes to that).

Gaming on Eth is still alive, you can play Axie Infinity and Lost Relics with no problems and farm items, only when you want to transact you won't be able to do it unless you're Elon Musk.

II would like to test those problems out :) Has to be done at some point. I would also like native second-layer tokens very soon....

I think the Enjin integration for Microsoft might be playable, but no idea what they will do with the transactions - although, they might have got around this by offering a fungible token - but not necessarily Enjin.

Elon is going to get lonely out there - playing with himself.