NFTs, or non-fungible tokens, are quite the controversial topic within the internet, and especially gaming. Recently, gaming publisher Ubisoft, famous for the creation of the Assassin's Creed, Far Cry, and Watch Dogs franchises has had multiple complaints regarding the implementation of NFTs in its games. The system, known as Ubisoft Quartz has even had developers at the company confused and frustrated, making it one of the reasons behind what is being termed as a "mass exodus" from the publisher.
Now it appears video game retailer GameStop is looking to venture into the world of cryptocurrency and NFTs. A recent report has suggested that GameStop has brought on twenty new hires in order to begin the development of a crypto division, which will soon begin cryptocurrency collaborations with major currencies currently available to purchase. GameStop's NFT marketplace will also be developed by these new hires, and will allow people to buy, sell and trade NFTs and in-game items.
Despite its sales being somewhat crippled by the increase of digital downloads within the gaming community, GameStop has seen enormous stock surges in recent years, largely to the Reddit community r/wallstreetbets causing a stock market fiasco which resulted in GameStop stock soaring well-over its expected rate. Following this event, the company looked to secure itself for the future, and it seems that jumping into the ever-increasing world of NFTs might be the plan for the company's future.
Public reception for companies' making plans to venture into NFTs and cryptocurrency has been usually poor. Alongside the aforementioned rejection of Ubisoft Quartz by many gamers, there have been calls from Final Fantasy 14 players for Square Enix to cancel its NFT plans, after the President of the company embraced NFTs. Moreover, survival horror game Dead By Daylight and its developers received criticism from fans for the inclusion of NFTs within the game.
Outside of the world of companies and consumers, there are others who are taking issue with those currently investing in NFTs. Twitch streamer Asmongold recently critiqued those who spend large amounts of money on NFTs. The streamer stated that while the blockchain technology used to make NFTs is an interesting idea that could have a bright future, the way it's being used now is strange. Whether someone is for or against NFTs hasn't seemed to stop companies from planning on how they'll be making their own NFTs or NFT marketplaces, as GameStop now becomes the latest in a list of big names supporting them.
Source: Wall Street Journal