Ubisoft to Develop New Monetization Business with Blockchain Games
Wikimedia Commons
Main page News, Blockchain, gaming industry, business

French game developer Ubisoft is exploring a new way to increase business profitability with new projects based on the so-called play-to-earn concept, IBTimes has learned. The company plans to add support for the blockchain technology into its video games releasing in the future. However, no particular project has been revealed.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

During the recent earnings call Ubisoft Chief Executive, Yves Guillemot, said that the video games industry is changing regularly with "lots of new revolutions happening."

"So we have been working with lots of small companies going on the blockchain, and we are starting to have a good know-how on how we can impact the industry. We want to be one of the key players there," Guillemot added.

Ubisoft Partners with Blockchain Distribution Platform

The move comes after Ubisoft invested in Animoca Brands, a blockchain gaming company. Earlier in October, Animoca Brands raised $65 million at a $2.2 billion valuation. Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital and others also participated in the fundraising.

Meanwhile, Steam announced it will be banning all blockchain-related games as the service does not allow game items that could have real-world value. This is not the first time Steam battles with the cryptocurrency space. In 2018, the gaming platform known for housing an extensive range of computer games and developers came under fire after users found out a free game called Abstractism had been mining cryptocurrency without their knowledge.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error