Sony continues exploring NFT offerings with a new patent

Sony is exploring the use case for non-fungible tokens (NFTs) in the gaming industry. The company has filed a new patent application that describes a cross-platform framework to create and manage NFTs.

Sony to explore NFT offerings

The patent revolves around linking these NFTs to several in-game achievements. The interest of Sony in this technology has been on the increase recently, going by the patent track record. The company also published a PlayStation survey questioning gamers about using NFTs.

NFTs and other digital technologies have become a major discussion in the gaming industry. Despite this growing interest, some players are skeptical of this new technology. Some game publishers have even announced a zero-tolerance for NFT and blockchain technology.

Valve’s Steam has announced that it will not tolerate NFTs on its platform. Epic Games has also announced a crackdown on shady blockchain games, which has dropped confidence in this sector. Epic Games is one of the largest PC gaming marketplaces that allow these games.

Sony has shown interest in NFTs and related technologies with patent filings. Nevertheless, the company has not made any significant moves towards adopting this innovative technology in its offerings. However, the keen interest in this area could soon translate to actual products or services.

Sony’s newly granted patent talks about an NFT framework supporting digital asset issuance, management, and monetization across games, accounts, and platforms. The patent application in question was filed on September 2022, and it pertains to a system where NFTs can be used for in-game achievements.

Sony describes using NFTs to award players that complete in-game functions, such as discovering a hidden item or emerging as the first person globally to defeat their opponents. This patent also addresses how NFTs can acknowledge players or groups that emerge as the first to accomplish goals.

Supporting NFT sales

Sony is also showing interest in supporting the sale of NFTs between players through a digital marketplace that Ledger powers. The prices for the NFTs listed in this marketplace will be available publicly.

Sony has previously shown interest in monetizing NFT offerings. A recent patent by the company revealed interest in renting out NFTs to players and stream spectators. Such offerings would expand Soy’s revenue base.

The existence of the intellectual property does not guarantee that Sony will launch these offerings. Sony has filed thousands of patents for different products and services through Sony Interactive Entertainment. However, not all patent filings translate to actual products and services.

During the first quarter of 2023, Sony obtained more than 170 patents. However, most patents filed by large tech companies are usually defensive to ensure they can beat the future competition and ensure the company’s future innovation efforts are kept wide and royalty-free.

However, the latest patent filing shows that Sony is increasingly becoming interested in NFTs and blockchain technology, and the tech giant could soon launch products and services in this area.