Nintendo cautious of NFTs and metaverse

Nintendo used the company’s latest earnings call to touch on NFTs and the metaverse, two ideas that have been conceptualized by fellow game developers but have long eluded a successful implementation model.

Just a few days ago, Electronic Arts became the latest company to publicly withdraw from the idea of rushing into NFTs.

However, Nintendo may have certain ideas that would make for a successful implementation of this technology without necessarily “diminishing joy”.

Nintendo’s primary concern is captured in the words “what joy we can provide”, and puts consumer preferences first and foremost. NFTs have been met with a strong opposition among gaming communities.

Activision Blizzard publicly blasted the idea and Ubisoft had a misfire by releasing NFTs that barely sold.

Nintendo has been more cautious and less critical of the space, arguing that the company “feels the potential in this area”.

Essentially, the company understands that the metaverse and NFTs are powerful digital tools that could be leveraged successfully. However, no company has found a way to introduce NFTs to gamers in a way that would appeal to them.

It’s a matter of adding value to the overall experience as opposed to releasing NFTs for the sake of it. Meanwhile, other companies have started exploring NFTs, including Konami, Square Enix and Atari.

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Source

Updated: 02/04/2022 — 10:00