Non-fungible tokens (NFTs) and “play-to-earn” games appear to be on the verge of widespread adoption, as one of the industry’s largest players sees both as the industry’s future.
On a financial conference call, Andrew Wilson, CEO of prominent video game developer Electronic Arts (EA), He said that NFTs and “play-to-earn” video games are the future of the gaming industry, although it is too early to figure out how it would work.
EA is well-known as a business-oriented corporation that employs the pay-to-win model in a variety of games, but it has yet to experiment with play-to-earn titles. However, as disclosed by a job advertisement over the summer, EA had set its sights on blockchain and NFTs.
The popularity of titles such as Axie Infinity demonstrates that “play-to-earn” products may readily establish a solid player base if carefully developed. Players acquire in-game digital goods by completing daily assignments, slaying monsters, and defeating other players in arenas in these types of games. These assets have real-world monetary worth and may be traded on cryptocurrency exchanges.
Wilson believes that collectible digital material will play a significant role in the company’s future. since they are totally compatible with EA’s games and live services “So it’s still too early to tell. But I think we’re in a really good position, and we should expect to think more innovatively and creatively about that in the future,”he added.
Another huge name in the gaming business, Assassin’s Creed publisher Ubisoft, recently announced plans to invest in and adopt blockchain-focused video game firms on the platform. Ubisoft was also a part of the $ 65 million fundraising round led by game maker NFT Animoca Brands.