Ubisoft To Dive Deep In Blockchain Gaming, CFO Makes The Case

Videogame giant Ubisoft is preparing to dive deep into blockchain gaming as the company provides funding to Animoca Brands, and CFO calls the technology a “revolution.”

Ubisoft Discusses Blockchain Gaming On Earnings Call

Ubisoft is a French videogame developer that’s behind many extremely popular series like Assassin’s Creed and Far Cry.

Now it looks like the company is also interested in venturing into the world of blockchain gaming, and it has already taken the first step by investing into Animoca Brands, one of the leaders in the industry.

Animoca Brands’ projects include Revv Racing, Revv Motorsport, and the upcoming Formula E: High Voltage. These games utilize the REVV token to allow players to collect and own NFT items.

As per a report from IGN, Ubisoft talked about its ambitions regarding these new types of games in its Q2 earnings call.

On the call, CFO Frédérick Duguet called the blockchain technology a “revolution.” CEO Yves Guillemot said during the call that the company plans to both invest into blockchain companies and create its own games.

Duguet explains:

[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’s possible that in the future we might see the technology integrated into Ubisoft’s mainstays like Assassin’s Creed, Far Cry, and Watch Dogs.

Related Reading | Two NFT Projects Backed by Animoca Brands Partner to Achieve Cross-Metaverse Compatibility

As NFTs and blockchain have been getting more popular in recent times, the technology has also been under wide scrutiny related to its environmental impact. Duguet comments about it noting the importance of learning “the impact on environments” and says the company is still in early stages of exploring the field.

Earlier in the month, the most popular PC gaming store, Valve’s Steam, put out a notice saying blockchain and NFT games are banned on the platform.

Its competitor, the Epic Games Store, took the opportunity to announce that their platform will instead welcome developers wanting to explore the technology with open arms.

Now 29 developers have sent an open-letter to Valve, asking them to reverse their decision of not permitting any blockchain games on the store. The firm is yet to respond to the request.

Bitcoin Price

At the time of writing, BTC’s price floats around $61k, down 0.7% in the last seven days. The below chart shows the trend in the price of Bitcoin over the past five days.

Related Reading | SEC Will Reportedly Not Allow Leveraged Bitcoin ETF

BTC seems to be showing a lot of volatility | Source: BTCUSD on TradingView

Featured image from Ubisoft, chart from TradingView