French video game company Ubisoft - known for popular titles including Far Cry, Assassin's Creed, and Just Dance - -is reportedly developing game features on the Ethereum blockchain.
According to a recent report by Les Echos, Ubisoft has had a "dedicated team" for blockchain applications in gaming for a number of months. Citing sources familiar, the French business outlet states that the Ubisoft-backed consortium is on the verge of launching its first blockchain use case. In fact, an insider source said that the venture is at an "advanced stage."
A rough translation of the report read:
"The idea is to give a digital existence on the blockchain to the 'items' (accessories) available in video games; content that publishers monetize. Ubisoft is considering working on the blockchain Ethereum, which allows to operate this kind of operation."
This idea of using an ETH blockchain marketplace for in-game items is not relatively new. In late 2017, various blockchain start-ups tried to pitch the idea. Ubisoft started considering the potential of blockchain technology in late 2018. The company went ahead to hold a blockchain hackathon in mid-2018 dubbed Blockchain Heroes. In the process, the Strategic Innovation Lab of Ubisoft developed a prototype of a blockchain game.
The associate manager at Ubisoft, Anne Puck, added:
"We think that blockchain has the potential to transform the gaming experience and even maybe to empower players as true stakeholders in their worlds. That's why our job is to accelerate the integration of blockchain at Ubisoft with this initiative."
Ubisoft will likely enable in-game or in-app purchases via the Ethereum network. It is worth noting that the company has not clearly stated that any form of digital currency will be used for any such purchases.
As of writing, Ethereum is trading up nearly 7% at its current price of $257, up significantly from its 24-hour lows of $240 which were set earlier today.
This massive surge has allowed ETH to surge to fresh weekly highs and has brought it closer to returning to its year-to-date highs of $285, which were set in late-May when the entire crypto markets briefly surged before incurring significant selling pressure that sent them reeling lower.
This advancement in the gaming industry seems to indicate that Ubisoft wants its players to own the digital property in the game. This business strategy will ultimately increase the gamers commitment and subsequently, Ubisoft will make more profit.