Electronic Arts Explores NFTs and Play-to-Earn Cryptocurrency Games
November 5, 2021
November 5, 2021
One of the best-known people in the gaming industry thinks non-fungible tokens (NFTs) and winning games are the future of the industry, and he thinks both are on the horizon for adoption. generalized.
Andrew Wilson, CEO of major video game company Electronic Arts (EA), said on an earnings call that network-based transactions (NFT) and winning games are the future of the gaming industry. game, despite the fact that it is still too early. to determine how it would work.
EA is widely viewed as a business-oriented company that uses the pay-to-win model in a number of its games; however, the company has yet to experiment with the game-to-win approach. On the other hand, according to a summer job posting, EA seems to have set its sights on blockchain and NFT technologies.
The success of games like Axie Infinity demonstrates that if a winning game product is well refined, it can easily attract a large number of players. Player digital assets are earned by completing daily goals, killing monsters, and outperforming other players in the arenas of these games. These assets have real world monetary value and can be traded on cryptocurrency exchanges.
Given the quality of its integration with Electronic Arts’ games and live services, Wilson believes that collectible digital content will play an important role in the company’s future. “As a result, it is too early to tell.” However, “I think we are in a very strong position and we should expect that we will think about it in more innovative and imaginative ways in the future.”
NFTs and games to win, according to Eurogamer, are a “Essential element of the future of our company”, according to EA CEO Andrew Wilson, who said last week on an earnings call that the two are “Critical parts for the future of our company”. The executive also confessed that they will not be featured in any games released by EA in the near future, as “It is still too early to understand how this will work.
This concept, known as “Play to win” pays participants with cryptocurrencies and, in some cases, uses blockchain technology. In contrast, non-fungible tokens (NFTs) are digital intellectual property certificates that can be used for a variety of purposes throughout a game.
It is possible that creating material for a certain title will result in the creation of a TVN. For now, EA recognizes that this relatively new technology will be important, but no one understands how to use it successfully in video games at this point, according to the company.
It is unlikely to be included in any future Battlefield, FIFA or The Sims game as it could quickly backfire and hamper sales. Another issue is regulation, or rather the lack of it, in the cryptocurrency space today, which could become a minefield for Electronic Arts.
Just a few days ago, it was announced that Ubisoft is also looking into NFTs and blockchain technology, indicating that the big game publishers are taking this seriously. As part of the second quarter financial results, EA released a statement from CEO Andrew Wilson noting, “This was the most successful second quarter in Electronic Arts history, with more people around the world joining and participating in our best franchises, new releases and live services. “
He also expects the company to see high sales throughout the Christmas season, in part thanks to the release of Battlefield 2042, which will take place on November 19.