Despite Historic Crashes, Video Games Aren’t Over NFTs Just Yet

Despite historic crashes, video games aren’t over NFTs yet

We were so close† as the NFT Market Suffered One Stormy Crash after anotherand like some crypto based games hundreds of millions of lost money, it looked for a while that the game industry was coming to its senses. But no. Just this week alone, two major parties revealed a commitment to bring NFTs and video games together.

Square Enix, the legendary publisher who seems intent on burying every ounce of goodwill it’s built up over the years and then dancing on the grave, is doubling the number his obsession with blockchain technology

Earlier this year, Square Enix sold a handful of prestigious studios – including Deus Ex maker Eidos Montreal and Tomb Raider stewards Crystal Dynamics — for $US300 ($416) million. Around the same time, the company declared a clear intent to make every effort to incorporate blockchain technology into its games. The companies report for the 2022 shareholders’ meetingpublished this week (through siliconera), said it plans to introduce “story-focused NFTs” into its games.

It is unclear how exactly this blockchain technology will introduce new features not yet present in video games. Representatives of Square Enix did not respond to a request for comment.

Also this week, a duo of former PlayStation execs – Michael Mumbauer and John Garvin – announced the creation of a new studio, Liithos (tagline: “from impossible to inevitable”), who plans to develop games on the Hedera crypto network† mumbauer, who was previously co-founder of indie studio That’s No Moon, stepped out of his role as CEO earlier this year. (That’s No Moon was founded last year and hasn’t released a game yet.) Here’s part of its mission for Liithos:

I want to see a world where the characters and stories I love don’t end after I finish the game. That has been a dream of mine for decades. The biggest hurdle to overcome was that there was no meaningful way to properly connect different entertainment worlds. Web 3 will unlock the power to transform the way we interact with entertainment. Imagine reading your favorite comic book or watching the latest season of a series you love, except they’re all based in the same great world. In fact, by watching the show, you get something that adds incredible value to your enjoyment of the game. Is that possible?

The first game from Liithos is Ashfall, a post-apocalyptic action game set hundreds of years in the future in the Pacific Northwest. Liithos is currently sells a comic based on Ashfall for $US100 ($139) (“expected delivery 9/23/). Garvin, who previously wrote and directed an open world survival game Days gone bywill serve as Ashfall‘s creative director.

This is concept art for Ashfall, not Outriders. (Image: Liithos)

It’s unclear exactly how Liithos plans to get a blockchain-based game past the certification processes of historically strict console storefronts. Through a representative, Mumbauer told: Kotaku that “the development will take a while, [but] we believe that the integration of technologies that will amplify our transmedia goals will eventually come online. As an alternative, we plan [to] put some focus on technology backend to connect mediums if none have been created that we can leverage Ashfall


This week, NFT.NYC staged its fourth annual festival, with a horde of crypto bros descending on New York City. One of the main stages was directly across the street from Kotaku headquarters; walking from the subway to the office every day meant wading through a sea of ​​fleece half zips and polyester chinos and red plastic cords. After closing, those in attendance flocked to the Soho and Williamsburg galleries to sip on sour Prosecco and speak in hushed, reverent tones of a “Gary V.”

It’s one thing to hear about, read about, or watch from afar how a venerable publisher of typically excellent games makes terrible business decisions. It is quite another to see the fervor so tangible in person.

We were so close.

#historic #crashes #video #games #arent #NFTs

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