- The majority of game developers are considering using NFTs and blockchain for their upcoming titles, a recent survey reveals.
- “We commissioned this research to solidify what we already assumed — that blockchain and NFTs are the future of video games,” said Stratis CEO Chris Trew.
- Nearly half of the respondents said they have already incorporated NFTs in their video games.
The majority of game developers are considering using NFTs and blockchain technology for their upcoming titles, a recent survey by the blockchain platform Stratis reveals.
The survey, undertaken by insight agency Opinion at Stratis’ request, declares that NFTs and blockchain can add value to video games by creating more engaging player experiences, securing value by distributing money among players, and benefiting users as adoption grows (network effects).
Among the 197 participants of the survey, which were game developers based in the US and the UK, 58% claimed they are beginning to use blockchain technology, while nearly half said they have already incorporated NFTs in their video games.
“We commissioned this research to solidify what we already assumed — that blockchain and NFTs are the future of video games,” said Chris Trew, CEO of Stratis, adding:
From our own experience supporting AA game developers, we know first-hand how these technologies are already beginning to improve the player experience by rewarding players with the ability to earn real-world value.
Manifesting significant interest in blockchain technology and NFTs, more than 70% of game developers said they are eager to integrate these innovations into new games, with more than half revealing that they will do so in the next 12 months. Further, 64% hold the view that blockchain will become mainstream in the gaming industry in two years.
“Blockchain is rapidly becoming a core building block for online games,” said Jean-Philippe Vergne, associate professor at UCL School of Management. “What blockchain enables is incredibly compelling — players can now earn cryptocurrency while playing and trade digital goods both within and across games.”
Notably, Andrew Wilson, CEO of the leading game publisher Electronic Arts (EA), said during an earnings call last week that play-to-earn and non-fungible tokens are the future of gaming. However, he noted that it is still early to figure out how that would work.
Gaming Giants Dabble Into NFTs
Ubisoft, a leading video game company, has unveiled that it plans to invest and adopt blockchain-based gaming companies. During an earnings call, Chief Financial Officer of Ubisoft Frédérick Duguet acknowledged that blockchain will have a considerable impact on the gaming industry.
Similarly, the online gaming store Epic Games revealed in mid-October that it will welcome “crypto games” after Steam, a rival gaming platform, banned games involving NFTs and digital collectibles. “Epic Games Store will welcome games that make use of blockchain tech provided they follow the relevant laws, disclose their terms, and are age-rated by an appropriate group,” said Tim Sweeney, CEO and founder at Epic Games.
As covered by FullyCrypto, the leading consulting firm Activate is also bullish on NFTs. In its 2022 tech and media outlook, the firm argued that NFTs will go mainstream by 2022.