Posted 1 month ago | by Catoshi Nakamoto
According to the CEO of Electronic Arts, he sees NFTs and blockchain-based games with play-to-earn features as the future of the gaming industry.
Electronic Arts CEO is Bullish On NFT And Blockchain Gaming
The comments came during an earnings call, where Andrew Wilson, CEO of Electronic Arts (EA), stated that NFTs and play-to-earn games are the gaming industry’s future. Although he said it’s still early to figure out how the tokenomics and technology will work the company is in a “good position.”
“I think that in the context of the games we create and the live services that we offer, collectible digital content is going to play a meaningful part in our future,” Wilson said. “So, it’s still early to tell, but I think we’re in a really good position, and we should expect us to kind of think more innovatively and creatively about that on a go-forward basis.”
EA has yet to develop a play-to-earn game. However, EA’s sports division EA Sports recently hinted at their interest in blockchain and NFTs, with a job posting seeking a senior director of brand for its competitive gaming sector as Bitboy Crypto reported.
That job offer included that the applicant must be experienced in “NFT” and “blockchain” in its description. This suggests that the company is in its early stage of exploring NFTs and blockchain. That post for a senior director of the company’s competitive gaming brand further highlights, “We set the pace for EA’s investment in gaming subscriptions, our PC storefront and platform, competitive gaming (including FIFA, Apex Legends, and Madden NFL), as well as new business opportunities, including fantasy sports, blockchain, and NFTs, and more.”
NFT Gaming Will Hit A Breaking Point
NFT and cryptocurrency-based games utilizing blockchain technology are going to be huge. But it doesn’t come without any struggles at first. Last month, Valve announced it was banning NFT and blockchain-based games from its popular video game publishing platform Steam. Meanwhile, Epic Games a competitor saw an opportunity to embrace blockchain and not gaming. Now, EA one of the biggest game publishers in the world has announced its own support for blockchain and NFT gaming, as Bitboy Crypto previously reported.
However, there will be a point where if other developers are getting involved Steam will have to reverse its ban or face loss of market share.
NFTs integrated into games has seen explosive growth in the last few months. One of the most popular games, Axie Infinity, a play-to-earn breeding adventure game with animal-like creatures called Axies, has seen record-breaking gross sales of $1 billion in only a few months.
However, so far major video game developers or AAA studios haven’t yet jumped into the realm of NFTs. Notably, EA has already been buying and selling card collectibles in its Final Crew product that’s similar to NBA Top Shots. Did anyone really think that EA and its subsidiary EA Sports wouldn’t get “in the game” of blockchain?
If EA were to release a title with NFT and blockchain features it would become the first triple-A studio to do so and that might be appealing for the company.
EA is only one of many brands that have started to explore NFTs. In fact, this is starting to take off a little faster than even we have anticipated as Ben and TJ have both said during the morning live streams. Now, we have EA Sports the sports division of Electronic Arts getting involved, As previously reported by Bitboy Crypto numerous major brands are deciding to test the waters with NFTs and blockchain. These include names like — Budweiser, Visa, Taco Bell, Louis Vutton, Nike, Pringles, Pizza Hut, Bratz, Formula 1, Coca-Cola, and even toilet paper brand Charmin.
NFTs are starting to become more widely spread and impossible to ignore. Brands getting involved in NFTs also means that major iconic companies are interacting with the Ethereum blockchain to mint and receive funds that are used to purchase their NFT releases. More business leaders are opening up to the idea of exploring blockchain and crypto digital assets. This comes after two giants in the e-commerce and retail space both Amazon and Walmart announced they are hiring a cryptocurrency expert as well.
Similar to how both retail giants will cause smaller retailers to get involved in crypto or be left behind. We will start to witness game publishers jump into blockchain crypto digital assets and NFTs one by one, as they now have to react to compete with EA or be left in the dust of innovation. This also means that it’s likely we will see Valve reverse its ban on crypto, NFT, and blockchain-based games after it’s able to get a foothold on the technology.
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