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

blockchain games NFTs in video games were and continue to be a hot topic towards the end of 2021, 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 players and the industry, companies said they would be incorporating NFTs into future releases (or even incorporating them into updates to 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. From Ubisoft’s embarrassing attempt at Ubisoft Quartz to Axie Infinity’s fall from the edge of the world, it’s easy to assume that 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 its interest in the larger crypto space back in 2018 as one of the founding members of the Blockchain Gaming Alliance. And while the intended audience has been fighting the company’s crypto plans at every step, they haven’t let up.

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

https://techcrunch.com/2022/06/30/as-the-nft-boom-fades-major-gaming-companies-slow-their-crypto-plans/ As the NFT boom fades, major gaming companies slow their crypto plans – TechCrunch

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