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Home BREAKING NEWS

Sony & NFTs? Sony Announces Cross-Platform NFT Framework

BlockNews Team by BlockNews Team
March 21, 2023
in BREAKING NEWS, BUSINESS, GAMING, MEDIA, NFT
Reading Time: 3 mins read
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An online patent suggests that tech giant Sony Interactive is exploring the use of NFTs on their PlayStation Platform. The patent’s details can get complicated in parts, but this article aims to simplify the information so that non-techies can get excited.

In simpler terms, the patent discusses a system that improves gaming experiences by including NFTs (Non-Fungible Tokens) that represent unique game items like artwork, characters, weapons, or other assets. It explains that current technology prevents players from using these items across different games or platforms.

The proposed system allows players to use and transfer their unique digital items exclusively in various games and platforms by using NFTs. It provides a player with an NFT when completing a specific game task. This NFT represents ownership of a digital item, and the system ensures that no other player can receive the same NFT for the same task, making the item special.

Players may work together or individually to complete tasks, which could involve finding a digital item in the game or overcoming a challenge. The digital objects can be things like game skins, artwork, avatars, weapons, or abilities.

The system uses a standard format for these digital items in different games and on various gaming platforms like PlayStation and Xbox. This way, players can enjoy their unique items in multiple games, making them more valuable.

To keep these items exclusive, the system removes the digital item from the game for other players and doesn’t offer additional NFTs for the same task. It even allows NFTs to be used across different generations of gaming consoles (e.g., from PS4 to PS5).

The system can also manage the transfer of ownership and use of digital items between different players. This is done by verifying the new owner’s rights to the item through the NFT and allowing them to use it in the game.

Overall, this system enhances gaming experiences by letting players use their unique digital items in various games and platforms and transfer ownership to others if they wish.

Wen though?

The developments are intriguing, and by connecting a few pieces of information, we can estimate when this drops. Sony filed a patent in 2021, which might have gone unnoticed, but gaming companies like Neil Blomkamp’s Gunzilla Games paid attention and got busy building their AAA Battle Royale multi-player 3rd-person shooter ‘Off The Grid.’ Early investors purchased their NFTs from $5,000 to $200,000. It’s also likely that Xbox has its patent established or at least in progress, considering Off the Grid plans to be available on that platform (as seen in the screenshot below). According to their FAQ page, with the game’s release set for 2023, we can expect these developments to unfold within the next nine months.

Final words

Integrating NFTs into major gaming platforms marks a significant development in the crypto and gaming industries. By incorporating NFTs, gaming companies can create unique, tradable digital assets that offer players more value and enhance their gaming experiences. This convergence of gaming and blockchain technology can potentially increase mainstream adoption of cryptocurrencies and NFTs, creating new revenue streams for game developers and fostering a more vibrant digital asset ecosystem.

For the crypto space and crypto gaming in general, this integration signals a growing acceptance and recognition of blockchain technology’s potential in the gaming world. As industry giants adopt NFTs, more games will likely follow suit, driving innovation and attracting more users to the crypto gaming market. This trend could ultimately lead to new decentralized gaming experiences, further solidifying the role of cryptocurrencies and NFTs in the future of gaming.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: BusinessGamingNFTPlaystationSony
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