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Tech companies don’t care if you hate NFTs

Major tech companies are adopting NFTs, regardless of public opinion, because they can.

tech companies and bored ape nfts
Image: KnowTechie

Non-fungible tokens (NFTs) are a hot topic right now. It feels like you can’t hop on Twitter or YouTube without seeing something about them. On top of that, more and more companies are embracing the idea of these digital assets. And those announcements often come with a lot of hate.

So if Twitter users seem to overwhelmingly dislike the idea of NFT profile pictures, why would the company move forward with that plan? Because it can. What are you, an NFT hater, going to do? Leave the platform? Doubtful.

This isn’t a pro-NFT piece, nor is it an anti-NFT piece. It’s simply an observation that is becoming more clear every day. Companies — both tech and gaming — are embracing the technology and for every user that supports the adoption, there seem to be two who are adamantly against it.

twitter nft hate
Screenshot: KnowTechie

Let’s just look at Twitter’s recent announcement regarding NFT profile pictures. The tweet has plenty of likes, but if you venture into the replies, many of the top ones are against them. The same can be said for the quote retweets.

Major companies like Meta and Google have positioned themselves in such a way that, within reason, they can do what they want in burgeoning fields like blockchain, crypto, and NFTs. They will receive some backlash, but because good options are limited, they will see very little loss monetarily.

And that’s the main point here – corporations exist to make money and grow. That’s it. Blockchain and crypto give these companies a new outlet for revenue and they are making a bet on these technologies being a part of our lives for a very long time. Or maybe not so long, due to well, you know, global warming.

There are, of course, examples of companies pulling back on crypto projects. Tesla infamously launched the ability to purchase EVs with Bitcoin, before backtracking on the program citing environmental concerns. But Tesla isn’t Meta or Twitter. People can buy other EVs, there’s only one blue bird site.

Gaming follows in a similar manner. Ubisoft recently attempted adding NFTs to Ghost Recon Breakpoint.

The company was met with backlash, and in the months that followed the release of the NFT platform, a grand total of 15 were sold.

Like Tesla, gaming is in a much more precarious situation. There are plenty of other games worth playing and gaming companies will continue to test the waters, but try their damnedest not to ruin their reputation in the process.

For what it is worth, according to some recent polls, gamers are largely against the idea of NFTs and crypto-based gaming.

But for companies like Meta and Google, which have a hand in what seems like everything we do on the internet, the downside is very small. And the metaverse isn’t helping matters any.

Could there be a tipping point where these companies pull back due to users’ discontent? Absolutely, but that is probably still quite a ways off.

Have any thoughts on this? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.

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