Sony wants to change the game with NFT integration on PlayStation

by James · March 22, 2023

Sony Interactive Entertainment is to implement non-fungible tokens (NFT) in its iconic PlayStation game consoles. Discover how NFTs will transform the gaming industry in this must-read article.

Sony Interactive Entertainment has revealed plans to incorporate non-fungible tokens (NFTs) into its iconic gaming consoles (PlayStation).

According to a recently released patent application, the company intends to integrate NFTs so that digital assets can be used across several different computer simulations and across several other computer simulation platforms. The patent, with the title “NFT framework for the transfer and use of digital assets between gaming platforms,” was originally filed last September.

For those unfamiliar with NFTs, they are digital assets stored on a blockchain and are non-fungible, meaning they cannot be traded for identical goods. NFTs provide users with unique, one-of-a-kind digital assets that can be bought, sold, and traded on a digital marketplace. They have become increasingly popular in recent years as a new way to monetize digital content, and in the case of web3 games, they are mainly used to give players ownership of digital objects.

The patent outlines Sony’s plans to create a standardized format for NFTs that can be read via various video game platforms such as PlayStation and Xbox. They can be used across different video game platforms. The technology described by the patent would allow NFTs to be transferred to other end-user devices for their own use across different simulations and/or platforms.

How NFTs can be integrated

There are several possible ways NFTs could be integrated into Sony’s game consoles. For example, players can purchase NFTs that represent in-game items such as weapons or armor, which can then be used across different games and platforms. In addition, NFTs can be used to represent exclusive access to certain games, providing a new revenue stream for game developers.

Source Bernard Marr — NFT Source: Bernard Marr

This news follows Sony’s announcement last year that it plans to offer NFT rentals on PlayStation. The entertainment giant is slowly moving into web3, the next generation of the internet that is based on blockchain technology.

Final thoughts

While there’s no word yet on when we can expect to see NFT integration on Sony’s gaming consoles, this patent application is certainly a promising development for the future of gaming. With the growing popularity of NFTs, it seems likely that we will see more companies follow in Sony’s footsteps and incorporate this technology into their products and services.

Stay tuned for more blockchain news.