SONY LOOKING INTO NFT, AND BLOCKCHAIN TECHNOLOGY, AND OFFICIAL DOCUMENTS REVEAL

According to patent applications filed last year, the Japanese gaming giant Sony is looking into Non-Fungible Tokens (NFT) and blockchain technology for tracking in-game assets in video games. The patent was well-known last week.

NFTs, or non-fungible tokens, are cryptographically unique tokens linked to physical and digital content that serve as proofs of ownership for things like music, collectables, video game items, and visual and literary works.

Sony requested a patent for a system that employs NFTs and blockchain technology to track digital assets in video games, according to the official documents presented in July 2021. The patent, titled “Tracking Unique In-Game Digital Goods Using Tokens on a Distributed Ledger,” was published on Nov. 10 and featured a schematic explaining the procedures for tracking ownership changes, metadata, or visual characteristics of digital assets.

The patent clarifies that digital assets can include everything, from screenshots or recordings of interactive elements to virtual people and objects. According to Sony’s patent application, there is no way to distinguish one instance of an in-game item that a famous computer game player used to win a popular tournament from other cases of the in-game item.

The PlayStation creator also realised that consumers value the opportunity to possess innovative items associated with renowned figures or popular pursuits. It also referred to baseball memorabilia, highlighting people’s love of assembling necessities.

According to Sony’s patent, the absence of physical resources forces the use of digital assets, such as baseballs signed by [Babe] Ruth, baseballs Ruth has hit in essential games, trading cards featuring Ruth, and other things.

The group argued that there is no inherent mechanism to be aware of, trace, or confirm a background identified by a particular instance of an in-game item. However, Sony did say that this project might offer a way to alter people’s ingrained perceptions of computerised resources.

A major gaming company has previously considered NFT and blockchain technology. Heavyweights in the Japanese video game industry have covertly included blockchain technology in their projects. Square Enix, the company behind the famous “Final Fantasy” series, established an internal section in February responsible for developing blockchain initiatives.

It is important to remember that Sony filed the patent in 2021 when play-to-acquire games like NFT became increasingly popular, mainly due to the development of “Axie Infinity.” In any event, things in the emerging industry have altered. Many game creators are currently backing their bets as the acceptance of innovations like NFT and play-to-acquire games rapidly diminishes.

Like all other tech behemoths, Sony routinely files patent applications, but it might still need to advance the concept and make it financially viable. Most of these patents typically remain as patents, while some might eventually show up in stores.