Ubisoft Betting Big On Blockchain Gaming

Video game giant Ubisoft has revealed that it is exploring blockchain technology, with the company providing funding to Animoca Brands and the CFO calling blockchain technology a revolution. 

Venturing Into Blockchain gaming 

The French gaming giant, which is a household name among gamers thanks to titles such as Assassin’s Creed and Far Cry, discussed its plans for blockchain gaming and blockchain technology during its Q2 earnings call. 

The gaming company has had a growing interest in blockchain technology and blockchain gaming and took its first steps into the world of blockchain gaming with a significant investment into Animoca Brands, one of the leaders of the blockchain gaming industry. Animoca has advertised itself as “the global leader in branded blockchain gaming.” 

Current Inventory 

Currently, Animoca Brands has several projects and titles under its belt. These include Revv Racing, Revv Motorsport, and an upcoming game title called Formula e: High voltage. All the games mentioned above use the REVV token, enabling players to own the digital assets in the game and collect in-game NFTs. Animoca also has a game called Sandbox, which is a virtual world consisting of NFTs called Sand.

Blockchain Game Alliance 

Apart from its funding of Animoca Brands, Ubisoft is also a founding member of the Blockchain Game Alliance. It has also been exploring blockchain technology since its inception, with Ubisoft CFO Frédérick Duguet calling it a “revolution” while discussing Ubisoft’s plans regarding blockchain technology. 

Future Blockchain Games 

Ubisoft CEO Yves Guillemot also seemed to indicate that Ubisoft wanted to do two things, invest in companies that are working with blockchain technology and also focus on creating its own blockchain-based games. The CEO also indicated that we could see blockchain technology in Ubisoft games at some point in the future. 

“[Blockchain] will enable more play-to-earn that will enable more players to actually earn content, own content, and we think it’s going to grow the industry quite a lot,” Duguet said. “We’ve been working with lots of small companies going on blockchain, and we’re starting to have a good know-how on how it can impact the industry, and we want to be one of the key players here.”

Mainstream Focus On Blockchain And NFTs 

NFTs, blockchain technology, and others have been quite controversial, despite gaining significant mainstream attention. They have been criticized for their impact on the environment and the level of risks associated with them. CFO Frédérick Dugue, while talking about blockchain, acknowledged the need for learning about the impact of these technologies on the environment while also stating that Ubisoft was in the very early stages of exploring the technology. 

Valve’s Blockchain Ban 

Popular gaming store Valve had announced that it was banning blockchain-based games and NFTs from its platform. When Valve made the announcement earlier in the month, its rival Epic Games was quick to grasp the opportunity and announced that they would be welcoming developers who want to explore blockchain technology on their platform with open arms. 

Developers, on their part, have written to Valve, urging the company to reverse the decision to not allow blockchain games on their store, with Valve yet to respond to their request. 

Epic Games Bats For Blockchain Games 

After Valve had banned blockchain games and assets on Steam, Epic Games told The Verge that it would be open to blockchain games and games that support cryptocurrencies and other blockchain-based assets on its game store. However, Epic stated that the games would need to comply with current financial laws, have appropriate age ratings, and clearly state how the blockchain would be used. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.