Universal Studios explores new ways to bring NFTs into video games

Universal Studios is assessing new ways to integrate non-fungible tokens (NFTs) on video games. The media company already has multiple intellectual properties that reveal plans to explore the new technology. Universal Studio’s entry into the NFT sector comes at a time when many traditional firms are venturing into the NFT sector to attract a new user base.

Universal Studios to integrate NFTs in video games

Universal Studios becomes the latest media company to explore the buzzing NFT sector. Universal has not only cemented its presence in the media industry, but also in the entertainment sector, as it owns a variety of amusement parks globally, with the most iconic being the one located in Florida.

However, the entry of Universal Studios into the NFT space comes at a time when blockchain technology and the NFT space has been challenged by the bear market that rocked the crypto space in 2022.

Universal Studios is exploring new ways that it can integrate the digital asset sector into theme parks. The new patent listing filed by Universal Studios looks into ways that game titles could adopt NFTs, to merge the digital world with the physical one. One of the ways that Universal Studios could integrate NFTs into its offerings is to give a redeemable NFT to people that use the rides and attractions offered by the company.

Some of the details about this patent represent some of the features that represent legendary items on shows such as Harry Potter. The patent filing could also show that the media conglomerate could be working closely with companies that support its amusement parks, and this will provide additional value to the customers through blockchain.

The patent also shows that Universal is exploring new ways that it can use blockchain technology and overcome the challenges that have been highlighted by the majority of gamers that are opposed to blockchain technology.

This submitted patent also notes that Universal Studios could work alongside the IP holders of rides within its amusement parks. This collaboration will allow the visitors to access NFTs that can later be used within video games. Given the contents of this patent, Universal Studios could explore integrating NFTs within Harry Potter World.

While the move by Universal Studios to explore NFTs is iconic, the initiative might not be linked to the company’s release of the Hogwarts Legacy game. The conglomerate has previously said that this game will maintain traditional attributes including monetization. It will also not integrate NFTs.

Adoption of NFTs in gaming

NFTs have become increasingly popular in the play-to-earn gaming industry. However, some traditional gaming companies are also exploring ways that they can integrate NFTs to their offerings to improve user experience.

The CEO of Square Enix noted that the company’s roadmap for 2023 would include NFTs. The executive also noted that the planned game releases for the year would integrate these digital assets. Nevertheless, there is a section of gamers and gaming developers that believe that NFTs have corrupted games and that the companies are only focused on monetization.