The market capital of CS:GO skins is roughly calculated at over $4.5 billion. This would mean that in terms of market capital in the world of cryptocurrencies, they occupy the fifteenth place. Could you then say that judging by this and the Howey test, th

In the last couple of days I was reading about Howey test, the lawsuits that are happening etc. And it just came up to my mind "What about CS:GO skins"?

We can not calculate the exact price of total market cap in CS:GO skins, but roughly it is over $4.5 billion dollars. I came to this number by researching and I stumbled upon on famous CSGO youtuber Anomaly.

Well, there is actually a website that shows the "trending market cap". Take a look at it:

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its called price empire if you want to search it by yourself.

The website has a smaller database of skins then the website called FloatDB. And if we calculate, and I say try to calculate as Anomaly did, using FloatDB database and info plus database from Pricempire, we will see that the market cap is around $4.5 billion.

And even then the price should be even higher because there are stickers besides skins, the data could be old because the price of the skins went higher etc, some items on weapons are not being included in price but are expensive to buy. The price would be significally higher if all that counts in.

If anyone wants to go in detail and watch his great explanation here is the youtube link - https://www.youtube.com/watch?v=IbjyijcU3Ww

Well, based on Howey test, my guess is that this can be a security.

It is being bought by many people, they are holding it, it is an investment, and profit can be earned by the work of other people, not yours, right?

Howey test simplified:

- did you give some company money to buy something, for example coins or in this case skins?

- did you join with other people for the same project?

- are you expecting to make profit from things you bought based on the effort of others?

The answer should be "yes, yes and yes". Well, Steam, CS:GO, I think that SEC will be after you aswell, based on this logic.

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if CS:GO skins were compared to other crypto, they would, at least, surpass DAI and take a sweet 15th spot. Maybe even 14th.

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