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PlayStation Looking To Integrate NFTs in Games

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PlayStation might be looking to integrate non-fungible tokens (NFTs) in their games, as indicated by a new patent from Sony.



Video gaming brand PlayStation might be looking to jump on the NFT train, as a recently-revealed patent from PlayStation’s parent company Sony Interactive Entertainment indicates the gaming giant’s intentions to integrate NFTs into its games.

The patent dubbed “Tracking Unique In-Game Digital Assets Using Tokens on a Distributed Ledger” was published last Thursday. Data from the patent application reveals that the application was made in May of last year with Sony Interactive Entertainment Inc. as the applicant. Additionally, inventors include Warren Bendetto, Mischa Stephens, and Foley Laiyemo.

Per information from the application, the innovative idea seeks to develop a system that can be utilized to track digital assets associated with video games. Notably, the digital assets would be in the form of NFTs, which could represent in-game objects or characters.

This recently-published patent further underscores PlayStation’s growing interest in NFTs. It follows the gaming brand’s intentions to introduce digital collectibles and NFTs in its loyalty program, PlayStation Stars, in September.

The patent suggests that Sony is seeking to incorporate digital asset functionalities in PlayStation games that could allow users to purchase, transfer and trade these assets; and use them in other games. The system would be established to track these assets.

The background of the patent application highlights the significance associated with the ownership of items related to certain celebrities and notable personalities by fans, pointing out objects and activities related to the late American baseball player Babe Ruth.

Furthermore, the patent mentions the growing trend of the usage of in-game characters and objects as digital assets by game players who could, along the line, develop a large following. Notwithstanding, it acknowledged that these digital assets are fungible.

“Aspects of the present technology include systems and methods for creating, modifying, tracking, authenticating, and/or transferring unique digital assets associated with a video game,” the patent notes. Once it materializes, users could witness the use of NFTs in PlayStation games.

Noticing the growing significance of cryptocurrencies, Web3, and the Metaverse, Sony has in the past made moves that indicated its interest in the industry. In May, Sony announced a partnership with Theta Labs that would see the firm launch NFTs used for its Sony Spatial Reality Display initiative.

Conversely, PlayStation’s rival Xbox appears more conservative regarding crypto and NFT adoption. Despite noting that the Metaverse and NFT are innovative concepts, Xbox Chief Phil Spencer, in August, revealed that he is cautious of the space due to concerning factors.

Notwithstanding, in March of last year, Microsoft – Xbox’s parent company – launched a poll that sought Xbox users’ opinions on the introduction of Bitcoin (BTC) as a payment option, as previously reported.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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