As the NFT boom fades, major gaming companies slow their crypto plans

lockchain games and NFTs in video games were a hot topic toward the end of 2021, and they continue to be so, spurred by the early success of Axie Infinity’s play-to-earn (P2E) model. After all, it’s hard to ignore a sector that’s playing with billions of dollars.

The potential of Axie’s P2E model, which gives players ownership of collectible in-game items (tokens) that they can sell for actual money, was immediately apparent. Its success showed the potential economic rewards of combining blockchain technology and gaming, and spurred a slew of smaller developers to put out similar offerings. More notably, it also led to established video game studios trying to elbow their way in.

And they tried hard indeed. Between November and February, video game giants, from Ubisoft and Sega to Square Enix, all signaled their intention to cash in on the NFT craze.

Source: https://techcrunch.com/2022/06/30/as-the-nft-boom-fades-major-gaming-companies-slow-their-crypto-plans/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAFrWRco5aiQm472vP8WgxSyMfrW9_cFZH3SpkVsv2Fbj_p2yDYSBztwgegezzHUtYJsb0l5lvzOIFRsR8AkgkzmLv_5loh8dLfZ5YR5SILD356TaDxZpiKEj75_BN6ERflGEhUSQOSepyVeNKEXR-swzWu_42eokXQiLuLMS6JJ7