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Former Nintendo President has some opinions on Blockchains and "Play-to-Earn" Models

Newsroom May 5, 2022

Blockchain and the metaverse are the most recent innovations in the world of technology, and everyone seems to have a lot of opinions regarding this. Some of them feel that this is going to be the next big thing that will change the face of technology and gaming forever, and some are of the view that perhaps this whole endeavour is not that reliable. Hence, when any big person in the technological or gaming industry speaks up about this issue, it becomes important for us to follow them to get a better understanding of it. In today’s blog, we will be getting into what the former Nintendo President thinks about blockchain and such.

Former Nintendo’s President and Introducing New Blockchain Elements

The former Nintendo President, Reggie Fils-Aimé, had a lot of things to discuss regarding the recent uprising of blockchains and how they are being introduced in the gaming world. He understands that it is still quite unconventional for traditional gamers to accept such blockchains getting inside their gaming world. However, he comes up with another concept, "Play to Earn" models.

Photo by Tezos / Unsplash

All of these concepts are being introduced to make gamers monetise their time fruitfully. This means that now people who invest more than 300 hours in one game will not only get the satisfaction of playing the game, but plenty of monetary benefits too! This is an exceptionally revolutionary idea, and we are in love with it!

What is the "Play to Earn" Model?

Many might be confused as to how this whole model works. To put it simply, when you are playing a game, you have a chance to get some assets that are worth something in crypto. For example, if you are playing a game where you get points for completing certain missions, or if you buy something in-game, or even win something, you have the chance to get some assets, which when you sell them, you will get a certain amount of any specific cryptocurrency. This enables the gamers to actually play and invest in a certain game, thereby making them financially fun too. Hence, now you can play games and earn money too!

a businessman is trading cryptocurrency on Binance
Photo by Kanchanara / Unsplash

Where does Nintendo stand in all of this?

The next big question will be where Nintendo fits into the whole blockchain business. Well, to be extremely honest, Nintendo is not that revolutionary when it comes to introducing blockchains and NFTs into their games. However, recently, they have been trying to get into the market gradually. They are willing to invest in the multiverse and introduce NFTs.

However, it seems they are going to be quite careful about all of this and might not be rushing like the other companies to introduce new technology, collaborate with other companies to make their own metaverse platform, or introduce NFTs. After where the former President stands, it would be interesting to find out what Nintendo might come up with next, as a lot of people have some high hopes for the company.

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Until next time,

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