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Thursday, January 20, 2022

Crypto enthusiasts meet a worthy opponent: Angry Gamers

So far, there are 10,000 digital wallets — tools that allow people to store their crypto assets — connected to the Quartz platform, even though Ubisoft released just 3,000 NFTs in its first batch, Mr Poire said. According to him, this indicates a desire to increase the number of NFTs in the future.

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Ultimately, Ubisoft plans to get a share of the sales of future NFTs, Poire added. “We are moving from a game-only business model to an ecosystem-centric business model where every player can be a stakeholder,” he said.

Zynga, which is due to be acquired by Take-Two, hired Mr. Wolf, a gaming industry veteran, to lead the cryptocurrency effort in November. According to Mr. Wolf, the goal was to create new games on the blockchain to make it easy for players to acquire, own, and sell NFTs. He provided a few details on how the effort will work, including whether NFTs can be transferred between Zynga games.

“We are still developing all of this,” he said.

Other gaming companies have moved on to NFTs, echoing how cryptocurrency can create new wealth for users. This month, Yosuke Matsuda, president of Square Enix, wrote in an open letter that building blockchain games would allow gamers to make money. According to him, this will be the “main strategic theme” for the company.

But as the number of NFT announcements from game studios grew, players became more annoyed. After users rebelled against Sega Sammy’s crypto plans, one of its executives said at a management meeting last month, “If this is going to be seen as just making money, I would like to make the decision not to continue.” (Efforts are ongoing.)

Other gaming companies have spoken out against crypto. Phil Spencer, head of Microsoft Xbox, told Axios in November that some games focused on making money with NFTs felt “exploitative” and he wouldn’t list them on the Xbox store. Microsoft declined to comment.

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