Sony’s PlayStation Up Next For NFTs?

If NFT fanatics were asking “XBox or PlayStation,” they might have a reason to be partial after this week. A new patent from Sony’s console gaming division has created buzz around potential blockchain-based games for the console in the future.

Let’s take a look at the details available so far surrounding the patent and how it could affect the future of gaming.

PlayStation’s Pursuit

Sony Interactive has finally seen the publication of a US patent entitled “Tracking Unique In-Game Digital Assets Using Tokens on a Distributed Ledger”, which was submitted with an application date of July 2021. The abstract description of the patent outlines the desire to have a mechanism that “tracks digital assets associated with video games,” which includes such as “in-game items or characters.”

Don’t get your hopes up too high for a patent application alone. Last year we speculated on an “eSports gaming platform” patent application from Sony that directly referenced potential crypto integration, referencing potential integration with gaming consoles and VR/AR. Originally submitted in 2019, this submission has yet to see any real direct production through any Sony product.

Meanwhile, this latest filing was filed in the middle of the bull market, and with last year’s crypto situation, it wouldn’t be surprising if the biggest global gaming firms slow down on an initial strategizing around the space. While in the big picture Sony is likely to explore crypto avenues, the likelihood of seeing Sony Interactive (and subsidiaries like PlayStation specifically) move in the near term is slim; Nevertheless, the game console sphere is somewhat small, and this latest patent puts PlayStation at the top of the list of potential game consoles to host NFTs or blockchain-related technology in some capacity.

NFTs and Gaming: How Does It Translate?

Speculation surrounding games has generally been left to the specific titles, and understandably so. After all, the case study projection for NFTs has largely centered around the potential of specific titles: experts cite consumers’ willingness to pay for digital goods across titles like Fortnite or CS:GO – rarely starting the NFT conversation with Xbox or PlayStation. But NFTs drive ownership – so how do you own your skin in the game across multiple titles? How does ownership translate from one title to the next if the titles don’t share developers or publishers?

These are some of the title-specific hurdles that NFTs in games will have to work through, and while there’s probably no immediate roadmap for titles or consoles, a standardized system would likely start from the top (consoles) and work down.

We’ll see if Sony or PlayStation pull the trigger on some NFT as we look towards the next console cycle in the years ahead.

Featured image from Pixabay, Charts from TradingView.com

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