- A survey at the Game Developers Conference shows that very few developers are interested in NFTs.
- An independent group of Minecraft Developer Mojang Studios’ executives created a pledge to encourage the safe utilization of NFTs.
- NFTs remain a contentious topic within the space, though some companies are pouring resources into related initiatives.
Bloomberg reported on April 26 that there was a sharp divide on the use of NFTs in video games, as demonstrated by discussion during the 2022 Game Developers Conference. Some industry giants were very enthusiastic about the idea, while others dismissed the need for the proposed solutions, saying that they posed risks. On the whole, however, few game developers seemed interested in actually using cryptocurrencies or NFTs.
Developers were also surveyed about Web3 and NFTs during the event, and the results show that the vast majority were not interested in the technology. Only 6% were very interested in crypto as a payment means, and 7% were very interested in NFTs.
Minecraft developer Mojang also urged caution, with one independent group of executives from the company creating a pledge to encourage safe implementation of NFTs. Mojang staying out of it is a clear sign that not all big names are keen on utilizing NFTs. Mojang Studios executives have established a pledge, along with others, that asks studios to be fully aware of the risks of NFTs and crypto before adding them into their games. The Bloomberg report states,
“Signatories must promise not to build games that foster artificial scarcity and speculation, disproportionately benefit early adopters or wealthier players, or use energy-intensive and volatile cryptocurrencies.”
Meanwhile, the blockchain industry itself is going all-in on NFT and blockchain-based games. The play-to-earn industry has ballooned in the past six months, and citizens in some countries are even using it to make a living.
NFTs Hotly Debated, but Some Companies Very Keen
There has been a lot of talk about the use of NFTs in video games. Those inside the industry have said that the financial model of NFTs could revamp in-game economies and change the business model of the industry to a more favorable one. The likes of Ubisoft — one of the largest video game publishers in the world — have created new initiatives just for the space.
These firms, including Japanese companies like Sega and Konami, believe that players could use NFTs as in-game items across games thanks to their digital identifiers. Meanwhile, GameStop has launched an NFT marketplace. However, very little in the way of actual development has taken place.
NFTs will continue to be a contentious topic in the space, but it won’t stop some companies from dabbling in them. It is only when the results of the first experiments are out that the wider industry will see what good — or bad — they will cause.