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Ubisoft Invests In Crypto Startup, Has Play-to-Accomplish Plans

Ubisoft Invests In Crypto Startup, Has Play-to-Accomplish Plans

The French gaming giant talked about its blockchain plans in an earnings name.

Key Takeaways

  • Game company Ubisoft talked about its plans for cryptocurrency in an earnings name that took plan this week.
  • The company has invested in blockchain startup Animoca Producers; it also plans to scheme play-to-assemble substances.
  • Ubisoft has previously served as a node operator on public blockchains and created its delight in NFT sequence.

French sport developer Ubisoft talked about its plans for cryptocurrency in an earnings name that took plan this week.

Ubisoft Has Invested in Animoca

All one of the best possible blueprint during the decision, Ubisoft CEO Yves Guillemot talked about his agency has invested in Animoca Producers, an organization finest identified in the crypto community for operating the Ethereum sport The Sandbox.

Guillemot also acknowledged regarded as one of Animoca’s racing projects titled REVV Motosport, which contains several video games that employ the REVV cryptocurrency as play-to-assemble rewards in-sport.

On Oct. 20, Animoca introduced that it had raised $65 million from Ubisoft and other merchants, bringing its valuation to $2.2 billion.

Ubisoft’s Entrepreneur’s Lab net page lists other companies it has previously supported, including the dApp cloud service Aleph.im and the game company Horizon Blockchain Games.

Play-to-Accomplish Is Under Consideration

To boot to investing in startups, Ubisoft itself would possibly possibly employ cryptocurrency for in-sport transactions. Ubisoft CFO Frédérick Duguet advised that play-to-assemble cryptocurrency rewards will possible be feeble in Ubisoft’s delight in video games.

Duguet talked about that blockchain expertise will enable users to “assemble boom material [and] delight in boom material.” He added that the company is “initiating to delight in a proper know-how on how it would possibly possibly possibly impact the commerce” as a end result of its earlier partnerships with small blockchain companies, and talked about that Ubisoft “desires to be regarded as one of many principle gamers right here.”

Ubisoft has previously leveraged blockchain by launching collectible NFTs for properties similar to Rabbids and One Shot League. It has also served as a node operator for blockchains similar to Tezos and Extremely. On the different hand, it has now not feeble crypto transactions to monetize its mainstream video games to any basic stage.

The knowledge comes appropriate after Steam introduced a ban on video games featuring cryptocurrencies and NFTs, and after Yarn Games’ assertion that it used to be initiate to the expertise.

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