PlayStation Enters Crypto World Through NFT

The Company Behind PlayStation Working on Crypto NFT

Game Rant reports that the patent was filed a year ago when the NFT sector was experiencing a bull market and higher support from investors. Now, investor sentiment towards NFTs has waned and has drawn criticism regarding digital scarcity and the impact on the environment.

Sony's NFT plan focuses on the esports industry which has a strong fan base. Sony's patents highlight digital items that appeal to players, just as sports fans collect collectibles about their favorite athletes.

The company likens NFTs to baseball cards signed by athletes or similar memorabilia, but to in-game items that can be transferred via the blockchain.The electronics giant claims its system can be used to verify the authenticity of digital assets used by professional players or creators of popular content that their fan base has the potential to trade.

For example, the weapon used by streamer Dr. Disrespect can be turned into an NFT that followers and fans collect. Another example is the skin in the game Fortnite that is used by a Ninja streamer figure accompanied by a unique digital signature that can also be offered as an NFT.

Rather than branding NFTs as unique digital objects that users can own, Sony is marketing digital collectibles as treasures worthy of collection by enthusiasts.Digital goods from professional players have been available to gamers for a long time, as have skins specially created for the League of Legends race team. Because of this, the gaming community is no stranger to the concept of NFT or digital collectibles.

Nonetheless, the gaming community has a tough stance on NFTs. Various policies implemented by game companies regarding NFT often receive rejection from gamers.

Despite facing negative market sentiment, various game companies are determined to work on the NFT sector. Not only Sony, Konami's competitor game company plans to build an NFT marketplace.