Sony’s patent reveals a plan to use NFTS to track in-game digital assets.
In a patent application released today, Sony revealed a plan to use NFTS (Non-Fungible Tokens) to track in-game digital assets. Sony’s patent reveals a plan to use NFTs to track in-game digital assets.
The patent, filed in March of this year, outlines a system in which game items would be tokenized and stored on a blockchain. The patent does not specifically mention PlayStation or any of Sony’s other gaming platforms. However, it does suggest that the system could be used to “manage a plurality of game profiles for different users.”
Sony Corporation is a Japanese multinational conglomerate corporation headquartered in Tokyo, Japan. The company owns the Sony Group, which is engaged in business through its five operating segments—electronics, games, entertainment (motion pictures and music), financial services and others. These make Sony one of the most comprehensive entertainment companies in the world. The group consists of Sony Corporation, Sony Pictures Entertainment, Sony Interactive Entertainment, Sony Music Entertainment, Sony/ATV Music Publishing and others. Sony is a leading manufacturer of electronic products for the consumer and professional markets. Its gaming division, PlayStation, is one of the industry’s most successful consoles.
The company also produces and sells products under dozens of other brands, including Bravia TVs, Xperia smartphones, Walkman portable music players and LifeSpace UX home audio products. In India, Sony has a wide range of products across categories like televisions, smartphones, laptops, cameras, playstations, etc. You can find more information about these products on their website.
Ubisoft Quartz – How the blockchain-powered NFT system works
In 2018, Ubisoft, one of the world’s leading video game publishers, filed a patent for a blockchain-powered system called Quartz that would allow players to trade in-game digital assets using non-fungible tokens (NFTs).
The Quartz system would work by minting NFTs for each in-game item and storing them on a blockchain. Players would then be able to trade these NFTs with each other using a decentralized exchange.
The benefits of such a system would be twofold. First, it would allow players to trade in-game items without having to rely on third-party services like Steam or eBay. Second, it would give Ubisoft a tamper-proof record of all in-game transactions, which could be used to combat fraud and cheating.
While the Quartz system is still in development, it represents an exciting use case for NFTs and points to a future where digital assets are traded on blockchains as easily as fiat currency.
Sony’s Patent and Growing Interest In NFTs
At present, most digital items in games are merely licensed to players by the developers. This means that players do not actually own the items they acquire in-game, and cannot sell or trade them outside of the game. However, if Sony were to implement an NFT system, it would allow players to truly own their digital assets. This would open up a whole new secondary market for in-game items. It would be similar to the one that already exists for physical collectibles like trading cards and action figures.
There are many potential benefits of such a system. For example, it could help reduce piracy by making it more difficult to copy and distribute game data files. It could also lead to more stable prices for virtual goods. However, their supply would be limited by the number of NFTs minted. In addition, it would give players greater control over their inventory and allow them to build up collections of rare items that could be sold or traded later on. Of course, there are also potential drawbacks to using NFTs in games. For one thing, it could create an even wider gulf between rich and poor players.
Thus, it appears that via Sony’s patent, it is investigating how to track digital assets across various games and platforms using blockchain technology. This would be a major development for the gaming industry. It would provide a new way for players to own and trade digital items.
However, it is an intriguing development. This is because, in comparison to other significant tech companies, Sony has been relatively quiet on the blockchain front. But if the patent is any indication, it appears Sony is making efforts to investigate the possibilities of this cutting-edge technology.