October 5, 2022

Ubisoft To Dive Deep In Blockchain Gaming, CFO Makes The Case

3 min read

Videogame huge Ubisoft is preparing to dive deep into blockchain video gaming as the business offers funding to Animoca Brands, and CFO calls the technology a “revolution.”

Ubisoft Discusses Blockchain Gaming On Earnings Call

Ubisoft is a French videogame designer that’s behind lots of extremely popular series like Assassin’s Creed and Far Cry.

Now it looks like the business is likewise interested in venturing into the world of blockchain gaming, and it has actually currently taken the primary step by investing into Animoca Brands, among the leaders in the industry.

Animoca Brands’ tasks consist of Revv Racing, Revv Motorsport, and the upcoming Formula E: High Voltage. These games utilize the REVV token to allow gamers to collect and own NFT items.

According to a report from IGN, Ubisoft discussed its ambitions regarding these new types of games in its Q2 revenues call.

On the call, CFO Frédérick Duguet called the blockchain technology a “revolution.” CEO Yves Guillemot stated throughout the call that the business plans to both invest into blockchain companies and develop its own video games.

Duguet discusses:

[Blockchain] will enable more play-to-earn that will make it possible for more gamers to in fact make content, own material, and we believe it’s going to grow the industry quite a lot. We’ve been working with lots of little companies going on blockchain and we’re beginning to have a great know-how on how it can affect the market, and we wish to be among the key players here.

It’s possible that in the future we may see the innovation incorporated into Ubisoft’s essentials like Assassin’s Creed, Far Cry, and Watch Dogs.

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As NFTs and blockchain have actually been getting more popular in current times, the innovation has actually likewise been under wide examination associated to its environmental impact. Duguet remarks about it keeping in mind the importance of finding out “the influence on environments” and states the business is still in early stages of exploring the field.

Previously in the month, the most popular PC video gaming shop, Valve’s Steam, put out a notice saying blockchain and NFT games are banned on the platform.

Its competitor, the Epic Games Store, seized the day to reveal that their platform will rather welcome developers wishing to explore the technology with open arms.

Now 29 developers have actually sent an open-letter to Valve, asking them to reverse their decision of not permitting any blockchain games on the store. The company is yet to respond to the request.

Bitcoin Price

At the time of writing, BTC’s rate floats around $61k, down 0.7% in the last 7 days. The listed below chart shows the pattern in the rate of Bitcoin over the previous five days.

Associated Reading|SEC Will Reportedly Not Allow Leveraged Bitcoin ETF

Bitcoin Price Chart

 BTC appears to be revealing a great deal of volatility|Source: BTCUSD on TradingView
Included image from Ubisoft, chart from TradingView