Can Sony and Microsoft Bring Blockchain to Game Consoles?

Sony and Microsoft, two of the biggest names in gaming, have been making significant moves in blockchain technology in recent years. This is an important development, as it will not only revolutionize the gaming industry, but also become the Trojan horse that makes blockchain a mainstream alternative.

Sony has patented a system that allows gamers to transfer digital assets between PlayStation titles using blockchain technology. This enables unified development and asset ownership rather than locking assets across different games to games. Sony has also explored tokenizing in-game assets, allowing players to sell and trade them on secondary markets.

Leaked documents reveal that Microsoft plans to add crypto wallets to Xbox. This allows players to securely trade their assets across multiple platforms. Microsoft's annual reports of acquiring Activision Blizzard and acquiring Savage Game Studios for mobile also align with this. This shows that Microsoft is serious about expanding its gaming presence and suggests that blockchain could play a role.

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The blockchain game is a huge opportunity, so it's no surprise that it's getting attention from two game leaders. Estimates suggest that by 2025, the market value could be 10% higher than in 2022.

The main drivers of blockchain game market growth include the increasing popularity of play-to-find games, the growing demand for more immersive and engaging gaming experiences, and the increasing adoption of blockchain technology by game developers and publishers.

But why blockchain in the first place? The traditional gaming industry primarily generates revenue through game sales, in-game purchases, and subscriptions, often limiting player ownership of in-game assets and focusing monetization strategies on microtransactions and downloadable content (DLC).

While tokenization has been in games since the advent of in-app purchases, blockchain's unique features offer real ownership of in-game assets, new revenue streams for players and developers, and more transparent and secure gaming economies, including the possibility of For players to gain real-world value, community management where players influence game development decisions, and distribution-like payments or rewards distributed to token holders.

Owning characters, items and currency means you can trade or sell those assets on secondary markets or use them in other blockchain games.

Could gaming consoles make blockchain mainstream?

This wouldn't be the first time Sony has brought cutting-edge technology to the masses.

In the year In the early 2000s, Sony was one of the main proponents of the Blu-ray Disc format. Blu-ray finally won the format war over HD DVD and has now become the standard for high-definition optical discs. Sony partnered with other major companies to create strong support for Blu-ray, helping it become the dominant format.

But the inclusion of a Blu-ray player in the PlayStation 3 — followed by the PS4 and PS5 — has put cost-effective, high-quality movie theaters in more than 239 million homes worldwide. A year before the PS3 launched, the average price of a Blu-ray player was over $1,000 — and unlike a $500 console, it didn't play games.

Today is a good day to play. We officially welcome Activision Blizzard King to Team Xbox. Together we create stories and experiences that bring players together, in a culture where everyone can do their best work and respect different perspectives. https://t.co/jTHOeH48Wx

— Phil Spencer (@XboxP3) October 13, 2023

But the Japanese giant dropped the ball too many times. The Sony Aibo was arguably the best domestic robot ever, and it seems clear to many that the PlayStation connection, capable of playing games with that capable metal dog and reconfiguring it, would create the economies of scale needed to make it a must-have. They have a purchase.

And many have commented on how Meta and others are creating it to try and bring Metavas into the home and office, and how it could have been the PlayStation Home Leagues, but when the PS4 came to life it mysteriously disappeared.

Existing blockchain gaming hardware

Of course, Sony and Microsoft are not new to the blockchain gaming niche. There are several existing blockchain gaming hardware products on the market today, including the Oculus Quest 2 and HTC Vive Pro 2 VR headsets with blockchain games built into them, as well as the Alienware x17 R2 and various high-end gaming laptops. Asus ROG Zephyrus G15.

However, all of these devices feel like those early Blu-ray players in terms of price and inaccessibility to everyone.

However, there are some options at the other end of the price scale. WOWCube is a 3D puzzle game console reminiscent of a Rubik's cube that allows players to interact with the digital world by twisting, shaking and tilting the device, and the company behind it has announced that it is working with developers to create blockchain games. It can be played on the device.

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In the year In 2021, Atari released a new version of VCS designed for blockchain gaming. It has a built-in wallet and support for multiple blockchains, and comes preloaded with several blockchain games, including Atari Pong, Atari Breakout, and Atari Asteroids. Additional blockchain games can also be installed on VCS.

And Anbernic RG552 is a handheld retro game console released in 2021. While it's targeted at those who want to play retro games, it can also be used to play games from the Atari 2600, including the Nintendo Entertainment System and Super Nintendo Entertainment System. blockchain games via the open source RetroArch emulator.

The road ahead is littered with game gold.

Sony and Microsoft's move to blockchain is a huge development for the gaming industry. Blockchain has the potential to change the way games are designed, played and monetized.

Of course there are challenges ahead. Web3 Games is excluded from significant gaming platforms and marketplaces to ban applications that allow the exchange of cryptocurrencies or non-fungible tokens (NFTs). However, with the power of two major gaming forces pushing the agenda, those barriers could be reduced or even eliminated.

Significant players such as Sony, Microsoft and Nintendo dominate the game console market. However, these platforms do not yet offer decentralized game development or digital asset ownership. On the other hand, there are various blockchain-based games. Still, there is no unified hardware platform that improves the gaming experience for blockchain-native games and all games are limited to personal computer use.

If Sony and Microsoft change the landscape or their up-and-coming solutions become more popular games – financial services, real estate, voting or NFTs – they could successfully bring blockchain to the masses and even have a huge impact on global technology. Landscape and cultural landscape.

Perhaps, like Blu-ray, it's a way to get gaming into the hands of the general public, not just the tech-savvy.

This article is not intended for general information purposes and should not be construed as legal or investment advice. The views, ideas and opinions expressed herein are solely those of the author and do not necessarily represent the views and opinions of Cointelegraph.