Video game developers like Gamestop, Ubisoft and Nintendo are seeing the potential of NFTs to transform their businesses, empowering their gaming communities. In 2021, non-fungible tokens became a global trend, thanks to their unique features, which showed the world new ways of monetization based on digital property. For this reason, more and more video game companies are embracing NFTs to add value to their products.
Although there are still video game companies that remain skeptical of NFTs, others point to these digital assets as part of their future. They consider them crucial elements to accelerate the innovation of the gaming industry and provide greater value and utility to their communities.
Video game companies in the world of NFTs
The companies in the gaming industry that have signaled their entry into the world of NFTs are the following:
Nintendo, the video game company that develops the famous “Super Mario” and “Pokemon” franchises, is considering introducing NFTs into its games. They say it would be to add value and utility to their community of players and expand their ecosystem.
The interest of Nintendo on NFTs and Metaverse was noted in its latest earnings call. The company claims to be inspired by the innovative inclusions that these technologies can introduce to its gaming environment. In this way, Nintendo could incorporate NFTs to give more value to its more than 100 million players and motivate the entry of millions more.
Video game and gaming goods retailer Gamestop will launch an NFT marketplace in partnership with scalability network Immutable X. The new platform will be completely environmentally efficient, with a zero carbon footprint. From the market, users will be able to mint and trade their own NFTs.
The company, which has been interested in the cryptocurrency industry since last year, also reported that it will give out up to $100 million in grants to NFT content creators, game studios, Web3 game developers, and the Metaverse.
Ubisoft Entertainment, developer of “Assassin’s Creed” and “Far Cry”, was the first major company in the video game industry to announce its entry into the world of NFTs. The French company is relying on the innovative potential of NFTs to transform its business and add value to its players. In October, Ubisoft CFO Frédérick Duguet said that NFTs allow players to “earn content and own content.”
In December, Ubisoft launched the “Ubisoft Quartz” platform , where players can own playable NFTs called “Digits.” These tokens can be integrated with their popular video game “Ghost Recon Breakpoint”. The “Ubisoft Quartz” platform also allows players to tokenize some game items. Through NFTs, Ubisoft wants to publicize the potential of blockchain technology, encourage the creation of new tools and add value to its community of players. To build strong communities around innovation and video games.
Although the volume generated with its NFTs has been low, Ubisoft said that NFTs are part of a paradigm shift in gaming. “Moving from one economic system to another is not easy to manage,” he noted , noting that players still do not understand the advantages and benefits offered by NFTs.
Zynga, the mobile game developer of “Farmville”, is integrating NFTs into its ecosystem to bring new opportunities to its players based on digital ownership. In late 2021, Zynga hired the founder and CEO of media agency D20, Matt Wolf, making him the company’s vice president of blockchain gaming. Wolf’s signing will boost its blockchain and NFT integration strategy.
The company is working on developing new blockchain and NFT-based games and integrating these new technologies into its existing game portfolio. Last month, it announced that it was being acquired by gaming giant Take-Two Interactive for $12.7 billion. Frank Gibeau, CEO of Zynga, said the acquisition will allow Zynga to enter the world of NFTs, making the company more prominent in the industry in the future.
5. Square Enix
Square Enix, the company that develops the “Final Fantasy” and “Tomb Raider” video games, has also jumped on the NFT trend. The New Year’s letter from Yosuke Matsuda, CEO of the company, pointed out the adoption of blockchain and NFTs in its gaming ecosystem as a strategic issue. Matsuda said that blockchain and NFT-based games are the “new domains where we should focus our investments.”
Blockchain technology and NFTs are bringing greater benefits to the gaming community, through digital ownership and decentralization. Square Enix wants to continue to focus on these new technologies, to help its players create new communities, develop digital economies, and foster the self-sustaining growth of gaming.
Square Enix has partnered with company Double Jump Tokyo to create unique test NFTs for its “Million Arthur” anime franchise. The NFTs ran out in a few hours. In November 2021, Square Enix announced a partnership with Ubisoft and EA in order to further develop its NFT adoption strategy.
Toy company Hasbro Inc. is also getting into the world of NFTs. In October of last year, the company announced the release of its first collection of NFTs for the “Power Rangers Megazord” franchise. The WAX blockchain in partnership with The Worldwide Asset eXchange saw the launching of NFTs on it.
Hasbro Pulse General Manager Kwamina Crankson said the NFTs gave fans of the franchise the opportunity to augment their collections with a one-of-a-kind Power Rangers NFT. Hasbro also wants to embrace non-fungible tokens in its most iconic franchises, such as “Magic: The Gathering,” “Dungeons & Dragons,” and more. For his part, Hasbro CEO Brian Golden assured that NFTs represent a unique and real opportunity to grow the industry.
Mobile gaming company MegaFans became the first mobile eSports platform to pay with NFT. MegaFans launched a collection of NFTs that it gave away as prizes to players late last year through its mobile eSports platform.
MegaFans reported that they had seen a huge spike with in-app purchases since the NFT award show. Furthermore, they noted that cryptocurrencies and NFTs, as well as blockchain, fit perfectly into his business model.
Jeff Donnelley, CEO of MegaFans, said that the launch of NFTs had been a success. He demonstrated that these digital assets, as well as cryptocurrencies and blockchain, are efficient technologies to create a sustainable and scalable business model.
MegaFans plans to become one of the first mobile game developers to integrate into the Metaverse.
Atari, a video game company founded in 1972, celebrated its 50th anniversary with a collection of NFTs.
The company has partnered with NFT and Metaverse developer Republic Realm to launch its new digital collection. Which is made up of 10 exclusive NFTs that will help tell its five-decade story. Atari made its entry into the blockchain world in 2018, signing a deal with Animoca Brands to develop new digital versions of its “RollerCoaster Tycoon Touch” and “Goon Squad” titles.
On its website it indicates that it is a company committed to the development of blockchain and NFTs. In April 2021, he sold over $100,000 USD with his NFTs. Later in July, he auctioned off 20 NFTs created in collaboration with Zed Run for a total of $410,000 USD on Opensea. The company has also been integrated into popular blockchain metaverses, such as Decentraland.
9. Electronic Arts (EA)
Electronic Arts (EA) , developer of “FIFA” and “Battle Field,” is also interested in NFTs, though its enthusiasm has waned a bit this year. Andrew Wilson, CEO of the video game company, said in November that gaming NFTs are the future of the industry. However, he also pointed out that it was too early for EA, whose gaming franchises have become extremely popular around the world, to enter this nascent industry.
Wilson assured that digital collectibles will play a significant role in video games and that EA is in a very good position to lead this trend. However, he recently clarified that the company still has no plans to add NFT to its games.
NFTs and Players
For some experts, the introduction of NFTs in the video game industry opens the door to new possibilities. Players are used to paying to purchase items within gaming platforms, but without owning them. With NFTs they can acquire ownership of such items.
NFTs and cryptocurrencies allow the development of new digital economies and businesses directly and without intermediaries. They offer the opportunity to create new game mechanics, such as Play to Earn (P2E). A game mechanic made popular by Axie Infinity and with which players can earn money while playing and having fun.