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As the NFT boom fades, major gaming companies slow their crypto plans – TechCrunch

blockchain games NFTs in video games were a hot topic towards the end of 2021, and they will continue to be, spurred by the early success of Axie Infinity’s play-to-earn (P2E) model. After all, it’s hard to ignore a sector that’s playing with billions of dollars.

The potential of Axie’s P2E model, which gives players ownership of collectible in-game items (tokens) that they can sell for real money, was immediately apparent. Its success demonstrated the potential commercial benefits of combining blockchain technology and games, and spurred a number of smaller developers to bring similar offerings to market. In particular, this also led to established video game studios trying to make their way.

And they really tried. Between November and February, video game giants, from Ubisoft and Sega to Square Enix, all signaled their intention to cash in on the NFT craze.


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Her fans didn’t like that. But despite overwhelmingly negative feedback from gamers and the industry, companies said they would include NFTs in future versions (or even constrict them in updates for existing titles). And the backlash only seemed to get worse with every announcement about NFTs.

When it comes to making money, feedback can and often does go unheeded. Still, some major gambling companies have reversed their plans. So what happened?

It seems that the lackluster performance of some companies’ gaming NFT implementations may have prompted some to reconsider their crypto efforts. By Ubisoft embarrassing attempt with Ubisoft Quartzuntil Axie Infinity falls off the edge of the world, it’s easy to assume the gaming blockchain party ended before it had even properly started.

Setbacks aside, Ubisoft seems confident that NFTs will play a role in the future of video games.

Well it hasn’t. Pandora’s box is now open, and attempts to legitimize a potentially predatory monetization model aren’t going to stop any time soon.

But that’s still a while away. Let’s put the doom and gloom aside for now and take a look at where some of the leading video game players stand:

Ubisoft

Ubisoft may not have put all its eggs in the NFT basket, but it is betting heavily on the crypto space.

It certainly started down this path long before its rivals. Ubisoft expressed interest in the larger crypto space as one of the founding members by the Blockchain Gaming Alliance back in 2018. And while the intended audience is fighting the company’s crypto plans at every step, it hasn’t let up.

The company launched a beta version of Ubisoft Quartz last December to demonstrate the value NFTs could bring to video games. But it seems to have done exactly the opposite.

As the NFT boom fades, major gaming companies slow their crypto plans – TechCrunch Source link As the NFT boom fades, major gaming companies slow their crypto plans – TechCrunch

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