2021 has seen cryptocurrency go from an obscure investment tool to mainstream success. The year has been kind to the cryptocurrency community, old members and new alike. The advent of a global pandemic saw many businesses worldwide shut down or undergo massive layoffs to keep their head above water. With one of the hardest-hit sectors being the financial markets, the ensuing crypto adoption that occurred late into 2020 was something very few could have foreseen. That adoption however has come and it seems crypto is here to stay. Many industries are increasingly finding a use for crypto and blockchain technology in their everyday operations. This new technology has managed to breathe life into a plethora of businesses with many seeing massive gains after adopting blockchain technology
One such sector is gaming. Gaming is not a new entry into the crypto space with many tokens being game-centric. There is a large overlap between crypto holders and gamers and many companies are starting to take advantage of this intersection.
EA Takes Its First Steps Into Crypto
Although other gaming companies such as Ubisoft have already stepped into crypto previously, the latest member is the biggest so far. Electronic Arts(EA) seems poised to begin linking its services and cryptocurrency. The gaming giant recently posted a job listing stating that it is searching for professionals that will handle blockchain and NFTs. This new development shows that at the very least, the company is exploring the possibilities of incorporating blockchain and NFTs into its existing framework.
Electronic Arts are one of the largest gaming companies in the world with decades of experience in the industry. They have published dozens of games and are well known for their massive title, FIFA. The incorporation of NFTs into FIFA could be a much-welcomed development by fans of the series. One possibility would be to allow football fans to acquire limited editions of virtual items by their favourite players, a yet unexplored realm that could lead to large profits for the company.
While EA and Ubisoft are willing to take the chance on crypto, not everyone shares their enthusiasm. Strauss Zelnick, CEO of the gaming company Take-Two has made his stance clear. The CEO does not think that crypto has any staying power, stating that it most likely would not even be around five years from now. Website, Gamesindustry.biz also shared similar sentiments stating that blockchain adoption in the gaming industry was not fulfilling any roles that were not already being taken care of.
Crypto In The Gaming Industry
Crypto in the gaming industry is not a new concept and while EA due to its large size and following will not find it hard to break through, other developers have already made significant leeway. Games like Axie Infinity and others are popular for allowing people to earn cryptocurrency while they play games. This concept has brought a large degree of success with the AXIE token currently being ranked 32nd on CoinMarketCap.
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