{"id":7005,"date":"2022-01-02T10:01:24","date_gmt":"2022-01-02T03:01:24","guid":{"rendered":"https:\/\/news.bitcoinvn.io\/?p=7005&lang=en"},"modified":"2026-05-16T14:53:50","modified_gmt":"2026-05-16T07:53:50","slug":"hugo-nguyen-chimes-in-on-debate-about-value-of-nfts","status":"publish","type":"post","link":"https:\/\/bitcoinvn.io\/insights\/hugo-nguyen-chimes-in-on-debate-about-value-of-nfts\/","title":{"rendered":"Hugo Nguyen chimes in on debate about value of NFT\u2019s"},"content":{"rendered":"

NFTs are worthless long-term.<\/p>\n

\u201cPlay to Earn\u201d games are inherently Ponzi schemes.<\/p>\n

What happened to good old common sense? Think about it: what economic value do you create for others when you \u201cplay to earn\u201d?<\/p>\n

No, it\u2019s not comparable to playing Starcraft because the money Starcraft players make comes from livestreaming demand (entertainment for others), not from hoping a centrally-issued form of money (a.k.a. in-game token), which is totally detached from the gameplay, will hold on to its value compared to other hard assets. Your game company (or any company for that matter) should never be a money-minting bank.<\/p>\n

Wake the fuck up. Too many people are falling for scams and in love with quick ways to riches.<\/p>\n

VCs like a16z are making it worse by putting legitimacy into these kinds of unsustainable business models, in effect preying on people in economically-starved countries like the Philippines and Venezuela. I\u2019d tell you another secret: Silicon Valley VCs aren\u2019t all that. Dumb and sketchy as hell.<\/p>\n

Provide a real value to the world. Earn your money with real work and integrity. That has never changed and will never change.<\/p>\n

\u2013<\/p>\n

Author Hugo Nguyen<\/a> has been contributing to the Bitcoin space in various ways over the past couple of years – as coder, investor and author<\/a> of various essays on the nature and state-of-the-art of software engineering in Bitcoin<\/a> and other attempts at cryptocurrency.<\/em><\/p>\n

He is the first (known) Vietnamese contributor to have a commit merged to the Bitcoin protocol<\/a>. <\/em><\/p>\n

Hugo is also an angel investor into BitcoinVN<\/a> – Vietnam\u2019s oldest Bitcoin Exchange service.<\/em><\/p>\n

His focus in recent years has been on making secure self-custody more straightforward – and especially all the avenues in which Multisig can address concerns around key-man risk and other security\/contingency issues around single-key self-custody.<\/em><\/p>\n

To this extent Hugo also contributed<\/a> to BIP129 – the Bitcoin Secure Multisig Standard (BSMS)<\/a>.<\/em><\/p>\n

Recently his team launched Nunchuk<\/a> – with the aim to make Multisig self-custody of Bitcoin easier accessible for users and thereby provide a crucial tool to aid Bitcoin on its journey to become the prime world reserve asset of the 21st century.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

NFTs are worthless long-term. \u201cPlay to Earn\u201d games are inherently Ponzi schemes. What happened to good old common sense? Think about it: what economic value do you create for others when you \u201cplay to earn\u201d? No, it\u2019s not comparable to playing Starcraft because the money Starcraft players make comes from livestreaming demand (entertainment for others), […]<\/p>\n","protected":false},"author":13,"featured_media":8001,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1843],"tags":[],"class_list":["post-7005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-experts"],"yoast_head":"\nHugo Nguyen chimes in on debate about value of NFT\u2019s - BV Insights<\/title>\n<meta name=\"description\" content=\"NFTs are worthless long-term. \u201cPlay to Earn\u201d games are inherently Ponzi schemes. 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