Thu. Nov 24th, 2022

NFTs and ‘The Metaverse‘ have been mentioned as areas of interest by Nintendo, but it has not yet defined what it could do in those areas that would appeal to gamers. Executives were questioned about Nintendo’s position on metaverse and NFTs during a post-release Q&A session following recent financial results from Nintendo.

When asked about Nintendo’s interest in this area, analyst David Gibson replied that Nintendo “could feel” the promise of it.”

This is a difficult area to define for Nintendo, it was emphasised, and the company wondered “what joy [it] could provide in this area.”

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Apparently, the company stated that it was interested in this area because it saw the potential, but that it was unsure of the kind of happiness it could bring in this area at this time.

According to a subsequent tweet from Gibson, the Nintendo answer was primarily focused on the “metaverse”.

Update 2 – February 4, 13:10 GMT: The official Nintendo response has now been published in its entirety. The text is as follows:

A lot of companies around the world are interested in the Metaverse. We believe that it has a lot of room to grow. When the metaverse is mentioned in the media and software like Animal Crossing is mentioned as an example, we are interested in it. The metaverse’s ability to surprise and delight customers is harder to pin down. We, as an entertainment company, must constantly reevaluate our offerings to ensure that we’re offering something new and exciting to our customers.”We may be able to consider something if we can communicate our ‘Nintendo approach’ to a large number of people in an understandable manner, but we do not believe that this is the case right now. NEWS CONTINUES ABOVE: Non-transferable tokens (NFTs) are a way for people to own, trade, and sell digital goods like in-game items and artwork. NFTs are stored on a blockchain, which is a type of digital ledger.

 

To describe an online virtual world based on social connections, the Metaverse term is currently in use by tech companies.

  • NFTs aren’t currently a priority for Electronic Arts, CEO Andrew Wilson said on Tuesday, per CNET.
  • NFTs are currently driving a lot of external investment in the games industry, according to EA’s third-quarter earnings call on Tuesday.
  • Investors’ enthusiasm for 3D, AR, and VR in video games was compared to the current situation.
  • Many notable gaming companies, including Ubisoft and Konami, have begun selling digital items as NFTs, while others like Square Enix have expressed interest in the technology trend.

However, these companies have attracted significant criticism due to the NFT format’s high carbon footprint and what many perceive to be cynical implementation.

  • NFTs and the Metaverse seem to be of interest to Nintendo. In this area, “we feel the potential,”

NFTs and lootboxes5 are being used to celebrate Atari’s 50th anniversary. In honour of Atari’s 50th anniversary, NFTs and lootboxes have been combined The ‘GFT’ collection is being created to celebrate its 50th anniversary

However, despite the backlash from players (a Ubisoft executive recently stated that players just “don’t get it”), some of these NFT schemes have been scrapped as a result of a poor reception.

Following criticism from both business partners and fans, Team17 quickly reversed course on its plans to enter the NFT market with a line of Worms NFTs earlier this week. Video game voice actor Troy Baker has also ended his partnership with VoiceVerse NFT after receiving an overwhelming amount of negative feedback for his endorsement of the company. In December, Stalker 2 developer GSC Game World also ditched its plans to sell NFTs, one of which was going to be an auction that allowed one player to become an NPC in the game, after they were met with anger from players.

By Adam

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