Sony Considers Integrating NFTs in PlayStation

PersonOutlineIconUPYO.comCalendarTodayIcon November 16, 2022AccessTimeIcon 2 Mins Read
PersonOutlineIconUPYO.comCalendarTodayIcon November 16, 2022AccessTimeIcon Mins Read
Sony

Sony

PlayStation thinks about integrating NFTs in its games, according to a newly-published patent from Sony.

Named “Tracking Unique In-Game Digital Assets Using Tokens on a Distributed Ledger”, the patent, originally filed in May last year and published this week, shows Sony’s consideration of exploring digital assets on its very popular PlayStation platform.

According to the patent, Sony revealed its possibility of using blockchain technology to monitor the creation, distribution, and authenticity of in-game digital assets.

Sony wants to develop a system or method to track digital assets associated with video games. The system is supposed to allow gamers to buy, transfer and trade these assets, in addition to using them in other games.

The digital assets would be likely in form of NFTs and could be in-game characters or items. “The digital assets may be video game digital media assets representing moments of gameplay of a video game, such as video clips or images,” the patent read.

In May this year, Sony partnered with Theta Labs, the creators of Theta blockchain, to launch 3D NFTs for Sony’s Spatial Reality Display in a move to consolidate NFTs and metaverse concepts. Sony is not the first company that thinks about NFTs, Square Enix said recently it is going for an NFT project of its own.

NFTs, known as non-fungible tokens, refer to cryptographic tokens that have a unique capability or element, making them distinct from other NFTs. These digital tokens are permanently associated with a piece and encoded with the creator’s sign. It attests to the piece’s possession and legitimacy.

In simple terms, NFT is a form of digital asset that showcases real-world artifacts such as music, art, precious gems such as diamonds, in-game stuff, and many more. They are often encrypted with similar software as any other cryptos and are purchased and sold online with cryptocurrency.

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