- New-fangled technologies (NFTs) may be lucrative for Konami, but they are largely despised by gamers. Konami is the latest developer to get involved with NFTs.
National Financial Transparency (NFT) has become increasingly divisive, but it continues to appear in more and more businesses. There are other industries where NFTs are being used, but gaming provides an interesting case study because the digital asset associated with NFTs can be made tangible, at least in-game. A good example of this is Ubisoft Quartz, a game that allowed players to buy and sell specific customization items directly in-game. Those who favour NFTs in games see it as a way to make money (or even get rich) while having fun, but every announcement about NFTs in games has been met with fierce opposition. It’s no different with Konami’s recent announcement that it will release special NFTs for the 35th anniversary of the Castlevania franchise, but it does highlight a peculiar trend of game developers being quick to support and implement NFTs despite the massive backlash.
Instead of in-game items, Konami plans to use digital artwork from the game as the basis for its proposed NFTs for Castlevania.
There has been a lot of backlash and even derision about the use of digital artwork as a primary component of NFTs. As a result of NFT ownership and sales, this is largely the case. In light of Konami’s recent split from Kojima Productions and complaints about working conditions, it seems odd for the company to jump on the bandwagon. Because of Konami’s lacklustre involvement in the gaming industry since then, the company’s decision to bring back one of its most beloved game series for NFTs was widely panned. However, despite the outcry of many fans, more industries are experimenting with NFTs because of the profit they can bring in.
Here is an explanation of the Silent Hill joke made by Guillermo Del Toro at the Game Awards:
NFTs and Gaming
Uniform blockchain addresses that can be used as records of ownership or as ledgers for ubisoft-quartz-digits-ghost-recon-unsustainable NFTs Non-fungible NFTs have a unique blockchain address that cannot be copied, and the ownership record can be checked at any time by anyone. A blockchain address is the actual ownership of NFTs, and the associated artwork or digital item is just a representation of this. In order to maximise profits, the NFT’s creator should choose a unique blockchain address that is linked to a specific cryptocurrency. Because of the ease with which the artwork file can be copied, NFTs that serve as in-game items or other digital assets have come under particular scrutiny.
Because of these reasons, even tangible NFT applications like Ubisoft’s Quartz are widely unpopular
. Firstly, as previously stated, the developer of the NFT will continue to receive royalties from its future sales. In addition, attempts to monetize gameplay through microtransactions and other means have always been met with criticism in the gaming industry, despite the fact that the practise persists. Environmental impact and astronomical amounts of money involved in some NFTs make them inaccessible to most people, making them a divisive topic even outside of gaming. Many gamers aren’t just anti-NFT because they don’t like them; they’re also morally opposed to them. For those who support NFTs, gaming is the most logical implementation of a profit-generating, exclusive NFT, as previously mentioned.
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By creating NFT digital artwork, Konami’s decision appears even more out of touch with its fanbase. Despite the backlash against NFTs, huge sums of money are still exchanged for these tokens. Although the goal of NFTs is to make it easier for artists to make money from their work, many digital artists have expressed major concerns about the actual viability of NFTs to protect intellectual property (IP). Public perception of NFTs have begun to shift because they are now associated with wealth, which is something that most people do not have. Aside from the fact that gaming is one of the most lucrative industries in the world, NFTs appear to be a viable way for investors to get involved in the burgeoning cryptocurrency market.
while some gamers are excited about the prospect of getting a head start on an NFT and earning a tidy profit, the response to NFTs in gaming has so far shown that the majority of players aren’t. Although Valve has banned NFTs from Steam, Epic has welcomed them, the industry is still split on the issue. At the 2021 Game Awards, it was reported that director Josef Fares of It Takes Two said he would rather be “shot in the knee” than use NFTs in his games. Meanwhile, Konami has just announced their Castlevania NFTs. The use of NFTs in games is being considered by Ubisoft, Take-Two Interactive, EA, and Square Enix. Because of this division in the industry, as demonstrated by the response to Konami’s Castlevania NFTs, gamers and companies are at odds over how to make more money from gaming. This conflict is evident in the response to Konami’s Castlevania NFTs.”
NFTs like Konami’s Castlevania seem likely to become more common now that so many companies are endorsing the concept.
This shows that gamers don’t have a strong desire for non-player characters (NPCs). This is a decision that makes financial sense for Konami, but it has the unintended consequence of alienating a significant portion of its fan base. In light of the global economic downturn brought on by the pandemic, it appears that such decisions have increased in the gaming industry in recent years. Konami has disappointed fans in the past, but the money made from the sale of these NFTs will influence other game developers who are considering similar products. If NFTs and cryptocurrency are going to be around for a long time, it’s hard to predict how long the NFT trend among big game developers will last.