Crypto Enthusiasts Meet Their Match: Angry Gamers

That has led to bursts of gamer outrage, which have rattled the game companies. In December, Sega Sammy, the maker of the Sonic the Hedgehog game, expressed reservations about its NFT and crypto plans after “negative reactions” from users. Ubisoft, which makes titles like Assassin’s Creed, said that it had misjudged how unhappy its customers would be after announcing an NFT program last month. A YouTube video about the move was disliked by more than 90 percent of viewers.

“Maybe we under-evaluated how strong the backlash could have been,” said Nicolas Pouard, a Ubisoft vice president who heads the French company’s new blockchain initiative.

Game companies said their NFT plans were not motivated by profit. Instead, they said, NFTs give fans something fun to collect and a new way for them to make money by selling the assets.

“It really is all about community,” said Matt Wolf, an executive at the mobile game maker Zynga, who is leading a foray into blockchain games. “We believe in giving people the opportunity to play to earn.”

The rush to embrace crypto in games has gathered steam over the past few years. Some developers began building games on the blockchain, making it easy for players to collect digital assets and prove they own them. One such game was CryptoKitties, a 2017 hit where players collected digital cats, some of which sold for more than $100,000. In the pandemic, blockchain-based games like Axie Infinity, where players make money by earning and selling NFTs, also became popular.

Bigger game studios are now trying to get in on the action, though some of their crypto plans remain vague.

Ubisoft was the first large game publisher to wade into crypto. In December, it announced an initiative known as Ubisoft Quartz, introducing three sets of NFTs in the form of digital equipment like helmets and guns. The NFTs were available for free in the shooter game Ghost Recon Breakpoint for players who had reached a certain level in the game. Gamers, the company said, could keep the items or sell them on third-party markets.

Source : https://www.nytimes.com/2022/01/15/technology/cryptocurrency-nft-gamers.html

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NFT market booms while crypto market remains sluggish. Here’s why

Source:MSN

NFT market booms while crypto market remains sluggish. Here’s why

NFT market booms while crypto market remains sluggish. Here’s why

Source:MarketWatch

NFT market booms while crypto market remains sluggish. Here’s why