GTA publisher not convinced cryptocurrencies “matter”

Take-Two CEO Strauss Zelnick has dismissed the idea of his company’s games introducing cryptocurrencies in any capacity for the time being.

Speaking during a Q4 2021 earnings call, Zelnick argued that cryptocurrencies could turn out to be a fad that might not matter in five years’ time.

Take-Two, which publishes Grand Theft Auto (GTA), is an interesting example. GTA generates hundreds of millions from microtransactions and the game’s open-world even supports a casino that can make in-game avatars rich or impoverish them.

“If you take metaverse, SPAC, and cryptocurrency, put them all together, in five years will any of this matter? I’m not sure that it will”, Zelnick mused.

Regardless of Zelnick’s own skepticism,the company’s presentation did talk about virtual currencies already available in the game as “promoting engagement and growth in recurrent consumer spending”.

Games by the company that utilize digital currencies, although not cryptocurrencies, are GTA Online, Red Dead Online and NBA 2K21. Zelnick seemed wary of the idea that something “buzzworthy” should be introduced to the games’ metaverses to make them more compelling.

According to him, all of the above titles already presented well-developed worlds that made it possible for individuals to express themselves in unique ways.

However, not all game publishers and developers are maintaining the same reserved position on cryptocurrencies.

Ubisoft has already confirmed that the company is exploring what it calls blockchain-powered games and Atari has been developing its own token to use in various products, including a dedicated decentralized casino.

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Updated: 05/21/2021 — 10:05