Sony and Microsoft Look to Leverage Blockchain for Gaming

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Sony and Microsoft, two of the biggest names in gaming, have made significant moves towards blockchain technology in recent years. This could revolutionize the gaming industry and make blockchain a mainstream possibility. Sony has filed a patent for a system allowing players to transfer digital assets between PlayStation titles using blockchain technology; it also explored tokenizing in-game assets. Leaked documents show that Microsoft is planning to add crypto wallets to Xbox, to securely enable players to trade assets across different platforms. Microsoft’s goals in annual reports also align with this, as they are pursuing the acquisition of Activision Blizzard and acquiring Savage Game Studios for mobile. Estimates suggest the blockchain gaming market’s value in 2025 could be up to 10% greater than in 2022.

The main drivers of the growth of the blockchain gaming market include the increasing popularity of play-to-earn games, the growing demand for more immersive and engaging gaming experiences, and the increasing adoption of blockchain technology by game developers and publishers. But why blockchain in the first place? Traditional gaming industry revenue is generated through game sales, in-game purchases, and subscriptions, usually limiting player ownership of in-game assets and focusing on microtransactions and downloadable content (DLC). Blockchain, however, offers unique properties such as true ownership of in-game assets, new revenue streams for players and creators, and more secure game economies. It also enables players to earn real-world value, take part in community governance, and receive dividend-like payouts or staking rewards.

Sony has a history of bringing cutting-edge technology to the masses, such as the Blu-ray disc format, which was made popular by the PlayStation 3, and the PlayStation Home, which has the potential to become a metaverse. Despite this, Sony has dropped the ball several times, such as the Sony Aibo home robot which could have been a must-have purchase had it included a PlayStation connection.

Several existing blockchain gaming hardware products are available, such as the Oculus Quest 2 and HTC Vive Pro 2 VR headsets, Alienware x17 R2 and Asus ROG Zephyrus G15 gaming laptops, and the WOWCube 3D puzzle game console. Atari released a new version of its iconic VCS designed for blockchain gaming, and Anbernic RG552, a handheld retro gaming console, can also be used to play blockchain games.

Sony and Microsoft’s move towards blockchain is a significant development for the gaming industry, as it has the potential to revolutionize the way games are designed, played, and monetized. Challenges remain, such as web3 games being excluded from certain platforms, but the might of two major gaming powerhouses could lower or eradicate these hurdles. If Sony and Microsoft successfully change the landscape, or if any existing solutions become wildly popular, gaming could successfully bring blockchain to the masses. Maybe, as with Blu-ray, gaming is the way to put it in the hands of the general public.

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