Video game companies from Ubisoft to Zynga are eyeing blockchain as a potential pipeline of fresh revenue for global gaming. Is it the early days of a major shift or just another stream of virtual assets enjoying hyper-inflated–and unsustainable–values?
There is still quite a bit to be sorted out, says Linden. Some entire blockchainsthan certain countries, placing strain on the environment and premiums in the form of “gas fees,” or the money it costs a user to tap the network. The play-to-earn model, where users gain and lose assets, raises the question of whether gambling laws should be applied. Other applications, where groups of users pool their money to buy a single expensive asset could someday fall afoul of global securities regulators.
The upside? Interest in NFTs doesn’t seem to be wavering. DappRadar, which tracks global NFT sales, says that transactions totaled roughly $25 billion last year from nearly $100 million in 2020, while major crypto exchanges like Coinbase, which has more than 70 million users, are preparing to launch NFT marketplaces. Linden is a believer: He sees Ubisoft making another run at the technology and major developers releasing titles that include NFTs as early as this year.
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