Ubisoft Prepares To Enter Into Blockchain Gaming, CFO Explains

Ubisoft prepares to enter into the blockchain gaming space as the company starts providing funds to Animoca Brands calling the technology a revolution so let’s read more in our latest crypto news today.

Ubisoft prepares to enter the blockchain space as the most popular French videogame developer which created many popular games like Assassin’s Creed and Far Cry. It looks like the company is interested in venturing into the world of blockchain and it has already taken steps by investing in Animoca Brands as one of the leaders in the industry. Animoca Brands’ projects include Revv Motorsport, Revv Racing, upcoming Formula E High Voltage, and all these utilize the REVV tokens to allow players to collect and own NFT items.

Ubisoft talked about the ambitions in the blockchain space, talking about new types of games in the Q1 earnings call. On the call, CFO Frederick Duguet called blockchain technology a revolution as its CEO Yves Guillemot stated that the company plans to both invest in blockchain and create its own blockchain-based games. Duguet explained:

“[Blockchain] will enable more play-to-earn that will enable more players to actually earn content, own content, and we think it’s going to grow the industry quite a lot. We’ve been working with lots of small companies going on blockchain and we’re starting to have a good know-how on how it can impact the industry, and we want to be one of the key players here.”

It is possible that in the future we could see the technology integrated into the Ubisoft mainstays such as Far Cry, Watch Dogs, and Assassins’ Creed. With NFTs and blockchain trying to get more popular in recent times, the technology has been under scrutiny because of its environmental impact. Duguet commented about it as well, noting the importance of learning the impact of environments and explained that the company is in its early stages of exploring the field. The most popular PC Gaming store Valve’s Steam put on a notice saying that NFT games and blockchain-based games are banned on the platform. Its competitor, however, Epic Games Store, took the chance to announce that their platform welcomes developers that want to explore the technology with open arms.

More than 29 developers sent an open letter to Valve and asked to reverse the decision of banning blockchain games into the store but the company is yet to respond to the request.