Nintendo says it’s interested in NFTs: ‘We feel the potential in this area’
Nintendo has reportedly said it ‘has interest’ in non-fungible tokens (NFTs) and the ‘metaverse’, but has suggested that it’s yet to define what it could do in the areas that would sufficiently appeal to users.
During a Q&A session following the publication of Nintendo’s latest financial results, the company’s executives were asked what Nintendo’s stance was on the metaverse and NFTs.
According to analyst David Gibson, the response was that Nintendo had an interest in this area and could feel its potential.
However, it was stressed that Nintendo wondered “what joy [it] could provide in this area” and was finding it difficult to define this.
“We do have interest in this area, we feel the potential in this area, but we wonder what joy we can provide in this area and this is difficult to define right now,” the company reportedly said.
NFTs are unique non-interchangeable units of data stored on a blockchain (a form of digital ledger), which effectively allow users to own, buy and sell digital goods such as in-game items or artwork.
On Tuesday, Electronic Arts CEO Andrew Wilson also said the company wasn’t currently focused on the introduction of NFTs for its games.
During EA’s third-quarter earnings call on Tuesday, Wilson acknowledged that NFTs are currently driving a lot of external investment in the games industry.
However, he likened the current situation to previous investor enthusiasm for 3D, AR and VR in the video games space.
Several notable games companies have started selling digital items as NFTs, such as Ubisoft and Konami, while others such as Square Enix have expressed enthusiasm for the tech trend.
However, these companies have attracted significant criticism due to the NFT format’s high carbon footprint and what many
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