EA Becomes Less Interested in NFT Video Games. Question is why?
It seems like the wave of NFTs has lost its momentum as its once staunch supporters in the gaming industry are now running away from it.
Electronic Arts was one of the most vocal gaming companies about NFTs and showed unwavering support. EA regarded NFT's as an integral part of their upcoming projects and supported it by saying that it is “the future of our industry.”
EA’s decision to support NFTs was met with severe criticism from fans as well as from the company’s own employees. The crypto tech path was directed and decided by EA’s CEO Andrew Wilson. However, the bullish outlook of EA towards NFTs now seems to subside.
EA & NFT Video Games
Talking about NFTs during an investor call, EA’s CEO said, “Right now it’s not something we’re driving hard on.” The answer made it clear that the bullish trend is not so bullish anymore. EA now approaches the NFT gaming as ever more cautious. While its competitor like Square Enix and Ubisoft have already gone into blockchain gaming and launched NFT's.
Wilson further added, “Anything that brings more people in and engages those people for more time in a context with the extent that I think it’s a good thing over time.”
“I think that is the very foundation of our live services. I think the play-to-earn or the NFT conversation is still really, really early. And there’s a lot of conversation and [there’s] a lot of hype about it. I do think it will be an important part about the future of our industry on a go-forward basis,” Wilson said during a second-quarter investor call last year.
The decision to backtrack from NFTs came just a month after the NY Times report on EA and its plan regarding FIFA. According to the report, EA’s future plans include, “[exploring] other ventures within its FIFA video game ecosystem, including highlights of actual games, arena video game tournaments and digital products like NFTs.”
EA’s decision to support NFT's wasn’t far-fetched as the company openly defended its loot boxes in the face of its fans. However, NFTs isn’t well-received among the fans as well as industry professionals, this has made other publishers and companies reverse their decisions.
Every day the latest video game news about the gaming industry. Video games news on (non-fungible tokens, NFT Video Games) , Play to Earn (P2E/Play-to-Earn), crypto games and crypto currencies, gaming guilds, Metaverse, VR, AR, AI, Virtual Worlds, Avatars, Digital Assets, In-game digital currencies, Web3 development, Blockchain based video games and its transactions and payments in the games.
Entertainment and all the big tech companies and technology behind it. Hyper Casual Games and the game studio’s that lead the way. Mobile games, PC games and Console Games and their vision on cloud gaming, streaming, esports and gamer communities. Online digital entertainment like movies, music, concerts, art and top brands such as fashion and much more that connect with video games in the metaverse.
If you want to stay up-to-date of my daily game news, then follow me on Google News.