There’s an interesting war over NFTs going on in the video game industry.
Titans in gaming are swinging their influence around and setting the environment in which cryptocurrency and NFT will try to survive in and the implications are massive. So about three weeks ago, gaming platform Steam made the decision to ban NFTs.
This ban dealt a huge blow to the growth and legitimacy of NFTs in gaming, but despite that, the rally hasn’t stopped. Now other big developers are throwing their hats in the ring in order to get into these uncharted waters.
Future of the Industry
In a recent earnings call with shareholders, EA CEO Andrew Wilson called NFTs the “future of our industry” and play-to-earn games are the gaming’s future although he admits to not knowing how this will work.
EA has been eyeing cryptocurrency and NFTs for a while now, since at least this past summer when a job posting was discovered where the company is looking for a senior director to grow the brand and get involved with NFTs. Even though it’s not a thing yet, people have already started criticizing EA for this business move.
Oh oh EA noticed NFT games, thats either a red flag or a bigger red flag
— DarkusNights (@DarkusNights) November 3, 2021
Suffice it to say, it seems to say that most people aren’t welcoming EA NFTs with open arms.
Bringing Down the Hammer
Some are so anxious to get into the NFT game that they’re willing to incur the wrath of the justice system. An NFT gaming platform called 1-Up Platform has recently attracted the attention of Nintendo and its lawyers.
— 1-UP Platform (@game1uptoken) October 23, 2021
The group behind it created a game where players can take part in a battle royale where other people can bet on matches to earn NFTs. The problem with the game is that it uses a ton of stolen assets from Super Mario Bros. As you can see in the video above, the demo shows blocks, lava sprites, and more taken from the game.
At the time of this writing, the game and platform haven’t been shut down but given Nintendo’s track record when it comes to their IPs, it’s only a matter of time before the company brings the ax down on them.
Gamers and NFTs
The divide between game publishers and the players is like oil and water. Take-Two CEO Strauss Zelnick is a huge believer in NFTs going as far as to say “if you believe in collectible physical goods, I don’t know why you wouldn’t believe in collectible digital goods.” The obvious counterargument to this is that you can actually hold a physical collectible over a digital image.
Credit to Zelnick, he is skeptical towards the current NFT market and the wild speculation that goes on there. He says the problem is that because some NFTs in the past have sold for high amounts of money, investors think they all will and that the market will only go up.
Gamers, on the other hand, have expressed their general dislike for the industry’s new pet project. So what do you think about all this? Are you excited for NFTs in video games? I’d love to hear what you have to say.