One of the world’s largest video game companies could enter the non-fungible token sector.
The move could represent increased use cases and benefits for the digital assets.
What happened: New documents show the PlayStation manufacturer Sony Group Corp SONY has filed patents for tracking digital assets in video games using blockchain technology. The patent applications were recently published and reported by Decrypt.
“In traditional video games, there is now a way to distinguish a specific instance of an in-game item that a famous player of the video game used to win a famous tournament from every other instance of the in-game item,” states in reads the patent Sony.
The filing indicates that Sony would provide unique digital assets, including those associated with celebrities and esports winners.
Sony also recorded the gameplay into video clips and created NFTs from the digital and physical content. NFTs could also focus on owning artwork, music and in-game items, according to the filing.
“Changes to properties of the digital asset, such as Information such as ownership, visual appearance, or metadata may be identified in a history update request.”
Related Link: Sony raises earnings guidance as music, entertainment and financial segments report positive Q2
Why it matters: Sony is known for owning the Playstation console, one of the best-selling products in history.
This recent patent filing and growing interest in NFTs and blockchain technology could mark one of the largest gaming companies exploring the space.
Ubisoft UBSFY announced the launch of in-game NFTs in December 2021 and additionally in February 2022, leveraging its library of intellectual property to break into the growing Web3 gaming space.
Square Enix SQNNY, which owns the Final Fantasy series of games, recently announced plans for its first Web3 game, called Symbiogenesis. The game uses NFTs from the ether ETH/USD Blockchain. Square Enix has signaled support for blockchain in games for years.
Sony’s move comes as a rival Microsoft Corporation MSFT, which owns the Xbox console, distanced itself from NFTs. Microsoft owns Minecraft maker Mojang and recently banned the integration of NFTs due to speculative pricing and an investment mentality.
Video Games Retailer GameStop Corp GME launched its own NFT marketplace to get into the growing space.
Sony’s patents do not guarantee that games will have NFTs in the near future or that users who spend money on in-game items like skins and weapons will be able to sell them over the blockchain. The patent filings could be a step in the right direction to see gaming accept and adapt to Web3 technology.
SONY Price Promotion: Sony shares are down 2% on Wednesday at $81.05.
Read on: Call of Duty won’t be Xbox exclusive as long as there’s a Playstation to ship to.
