The first one is obvious: Some players hate them with a burning passion, and many at the very least are entirely ambivalent toward them. The game industry turned on NFTs for two reasons.
Electronic Arts CEO Andrew Wilson called NFTs and blockchain gaming the “future of our industry” late last year. Some of the bigger names in the game industry have stopped singing the praises of NFTs and blockchain gaming after just a few months.But Reddit is indeed selling these avatars and using blockchain technology to denote their uniqueness and facilitate aftermarket trading. Reddit recently did something similar when it announced “collectible avatars” last month, choosing not to use the phrase NFT.It is not leveraging any blockchain technologies and definitely not NFTs,” Chen told The Washington Post, leaving not a shred of doubt about how damaging Sony thinks it would be to attach the crypto market to its valuable brand name. The Sony quote in question, and it’s an incredible one, comes from Grace Chen, the company’s vice president of network advertising, loyalty and licensed merchandise.Companies across the game industry and beyond are distancing themselves from NFTs - sometimes just in name alone - in a way that signals a reputational crisis for a technology Web3 enthusiasts claimed would be revolutionary. For game companies, NFTs have become damaged goods. What might have been a golden opportunity for Sony to march proudly into Web3 instead turned into a telling moment for the flagging NFT market, as Sony emphatically emphasized it was not in fact selling digital tokens of the non-fungible variety and had no plans to do so. The game industry’s messy relationship with crypto concepts like the blockchain and NFTs soured in dramatic fashion yesterday when Sony launched a new “digital collectibles” feature for a revamped PlayStation loyalty program. Continued abuse of our services will cause your IP address to be blocked indefinitely.NFTs are dead. Please fill out the CAPTCHA below and then click the button to indicate that you agree to these terms. If you wish to be unblocked, you must agree that you will take immediate steps to rectify this issue. If you do not understand what is causing this behavior, please contact us here. If you promise to stop (by clicking the Agree button below), we'll unblock your connection for now, but we will immediately re-block it if we detect additional bad behavior.
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