Video Game Industry NFT's; Cash Grab?

Video Game Industry NFT's; Cash Grab?

Play To Earn Games | 22 Mar 2024 17:06 UTC

Video Game Industry NFT: A Real Change or Just a Way to Make More Money?

The tech and gaming industries have been all about NFTs and blockchain gaming for the past few years. But there are different opinions on the subject in the gaming industry. Some call it a revolution and the future of gaming.

Others aren't sure about it and think it's just another way to make money. Also, gamers and fans have said what they think about the problem and are very vocal about it.

Video Game Industry NFT

Initially, game companies like Electronic Arts experimented with a model known as the “pay to win” model. In 2017, it launched the model where gamers were required to pay to unlock certain characters in the “Star Wars Battlefront II” game. This step wasn’t well received in the gaming community and EA had to take back its decision after severe backlash.

When Ubisoft released Quartz, its fans were very critical of the game. A YouTube video was used to make the announcement, and most of the comments were negative.

Because of this, Ubisoft took the launch video for NFT down from its website. The goal of Quartz was to let players own in-game items as digital assets that could be tracked on the blockchain.

This is a new part of the "Ghost Recon Breakpoint" game. Gamers didn't like the change and said it was "just another way to milk the game and steal money." Concerns about the environment have also added to the criticism, since many people think cryptocurrencies are bad for the environment.

Ubisoft, on the other hand, said that its NFT, "Digits," is an experiment that gamers can choose to take part in or not. Also, Tezos, a cryptocurrency network that uses less energy, is used as the technology.

Video Game Industry NFT's; Cash Grab?
Video Game Industry NFT's; Cash Grab Or Not? - Video Game Industry NFT

The industry is still split on the issue, and Phil Spencer, who is in charge of Microsoft's Xbox, says that NFTs are "exploitive."

Also, Geoff Keighley of The Game Awards said, "There are definitely some aspects of [NFTs] that feel a little exploitive right now with some of these games."

But some people think that NFTs are the future of the gaming business. A great example of this is the huge success of the Play to Earn game Axie Infinity.

NFTs may have a bright future, but right now they are just starting out.

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