Although several non-financial industries have displayed interest toward crypto and blockchain technology, the technologies are yet to penetrate the business vertical with one of the highest global consumers, the gaming industry. In what seems to be one of the first advancements in the sector, the gaming giant Ubisoft, is going through with its first involvement with blockchain technology.
The news was revealed by a local French publication that detailed Ubisoft’s determination to identify the potential applications of blockchain in gaming. The article also confirms that Ubisoft’s team has already identified a suitable use case that can be put into practice.
The report read,
“The idea is to give a digital existence on the blockchain to the “items” (accessories) available in video games; content that publishers monetize and which constitute a manna more and more colossal for the actors of the sector.”
This particular advancement, driven by Ubisoft, is exciting as the company has decided to begin the project over the Ethereum blockchain. Currently, Ubisoft stands as one of the most influential companies across the globe, owing to Fortnite’s overwhelming success.
Taking hints from the gaming publisher’s business model, Ubisoft will most likely enable in-app or in-game purchases through the Ethereum network. However, there are no indications of leveraging any form of cryptocurrency for such purchases. Charles-Louis Planade, the video game financial analyst at Midcap Partners said,
“When you buy a costume on Fortnite, your investment is lost, the accessory is locked in the game. If we use the blockchain, we give a physical existence to a digital element.”
This development suggests that Ubisoft will take the same path in allowing players to keep the digital property of their accessories and ultimately, increase the commitment of its game players.