Thursday, July 25, 2024

In its recent earnings report, gaming giant Ubisoft mentions Blockchain

One of the largest gaming companies worldwide, Ubisoft, mentioned blockchain to be one of its key areas of future development.

While the play-to-earn trend has become very popular of late, the gaming industry has not yet embraced blockchain.

Ubisoft, which is known for immensely successful games like Far Cry and Assassin’s Creed, announced that it is indeed considering blockchain technology to be one of their key points for future ventures.

This news came via the company’s newest earnings report for the fiscal year 2021-2022. The company expressed how it had been in pursuit of incorporating blockchain technology ever since its early days. This was done in a bid to improve gamers’ experience in virtual worlds. For this purpose, the company took support from initiatives such as its Entrepreneurs Lab start-up program, along with Blockchain Game Alliance staying on as one of the founding members.

As per the earnings report, the company will most likely begin to roll out the blockchain technology in an introductory game via NFTs. The company also added that this new venture aligns perfectly with its mission of empowering players as the true stakeholders.

Interestingly, Ubisoft led the most recent fundraising round of Animoca Brands, which is a gaming company. This round enabled it to raise $65 million, amounting to a total valuation of $2.2 billion. Animoca Brands is well-known for managing The Sandbox, which is a game that has ruled the charts ever since it integrated blockchain technology and NFTs into the playing experience. This sponsoring initiative by Ubisoft further goes to show the company’s interest in the blockchain technology world.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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