Tech journalist Alex Hern, who has been making milder teasing about the cryptocurrency crash yesterday, noted that he didn’t tweet about Bitcoin during the boom “because it wasn’t funny at the time.” So , after we posted yesterday about a crypto fan who stole Itch very crudely and tagged the founder of Itch in a tweet about it for some reason, allow me to bring you some of the No Man’s Sky players who came up with it I think it’s the most useful cryptocurrency app I’ve ever seen. It works because it is intentionally worthless.
As Vice reports, he interviewed members of the Galactic Center, a community of players that was originally intended as a way to make up for No Man’s Sky’s lack of cooperation when it launched in 2016.
Now, years later, Galactic Center finds that more and more players are entering the endgame of Hello Games’ space survival epic, where you’re strong enough to duplicate items or otherwise gain them through attacks. Therefore, in-game currency is useless to you. But you may still need stuff from other players (for example, to help design, build, or customize your base). Enter Hub Coins.
Hub Coin is a cryptocurrency that exists on the Ethereum testnet, a cryptocurrency version of a monopoly currency. You can still trade it for things, but not for real things of any value. To ensure that no one knows what the actual value of the Hub Coin should be, the Galactic Center (which now has a Treasury Department) has ruled that it cannot be exchanged for actual currency. Its only value is in No Man’s Sky.
So far, the Hub Coin appears to have had some level of success, as it’s intended to facilitate fun in video games, not add value so that whales can cash out from their Herbalife-but-for-bros program. I find the best example of cryptocurrency use I’ve come across interesting because it’s selective, small-scale, and practically worthless. By design!
Still, there are some issues with Hub Coin. Before the launch of Hub Coin, the biggest concern of the community was the impact on the environment. “Less” may be a relative term in cryptocurrencies, although Hub Coin switches from proof-of-work to proof-of-authority to generate new coins and therefore has less environmental impact – but I can’t tell how much power the Hub coin actually has is burning. Going forward, The Galactic Hub also expects inflation issues as the roughly 150 players currently using Hub Coin are scaling up.
I personally think the biggest problem is that it’s a cryptocurrency, but that’s me. Meanwhile, No Man’s Sky itself is recovering from a rough launch with years of continued support and a slew of free updates (the most recent update, Outlaws, came out just a few months ago).