NFTs and play-to-earn are future of gaming industry, says EA boss

Wider adoption of non-fungible tokens (NFTs) and games for money seems to be on the way, as one of the biggest names in the gaming industry considers both is the future of the industry.

Speaking at an earnings call, Andrew Wilson, CEO of major video game company Electronic Arts (EA), said that NFT and games for money are the future of the gaming industry though It’s still early days to figure out how it works.

Widely known as a business-oriented company that uses a pay-to-win model in some games, EA has yet to try their hand at games for money. However, EA hinted that it has its sights set on blockchain and NFT, as a job posting from the summer revealed.

The popularity of titles like Axie Infinity shows that play-for-money products can easily find a solid player base if the product is fine-tuned. In such games, players receive in-game digital assets by completing daily quests, defeating monsters, and defeating other players in the arena. Those assets have real-life monetary value and can be sold on cryptocurrency exchanges.

Wilson believes that collectible digital content will play a meaningful role in the company’s future, given the fact that it fits perfectly with EA’s games and live services. “So it’s still early to tell. But I think we’re in a really good position and we should expect us to think more innovatively and creatively about that on a forward-looking basis,” he added.

Related: Sandbox raises $93 million to expand its NFT metaverse

Another big name in the gaming industry, the publisher of Assassin’s Creed, Ubisoft, recently shared that it intends to invest and adopt blockchain-focused game companies on the platform. Ubisoft was also one of the participants in the $65 million funding round by NFT game developer Animoca Brands.

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