According to the latest report, the French video game company Ubisoft intends to move into blockchain technology. The gaming giant is all set to explore the potentials of blockchain technology in gaming.
The CEO of Ubisoft Yves Guillemot stated that in the future, blockchain technology has the potential of revolutionizing the video game industry. The team of the video game company is reportedly developing Ethereum apps in-game objects and blockchain games.
The main idea behind this development is to give the articles available in the game, a digital existence. Ubisoft will likely enable in-game or in-app purchases via the Ethereum network. It is worth noting that the company has not clearly stated that any form of digital currency will be used for any such purchases.
Midcap partners’ video game financial analyst Charles-Louis was of the opinion that when one buys a costume in Fortnite game, the installment is lost; the commodities in the game are locked while physical existence can be given to a digital element by using blockchain technology in gaming.
This advancement in the gaming industry seems to indicate that Ubisoft wants its players to own the digital property in the game. This business strategy will ultimately increase the gamers commitment and subsequently, Ubisoft will make more profit.