This is what SONY’s NFTs will look like.

This is what SONY’s NFTs will look like.

Time Stamp: March 28, 2023 3:50 AM
Source Node: 2036676

42 hours.

That’s how long I spend on my PlayStation every week.

$0.

That’s how much I earn by spending time on my Playstation every week.

This ☝️ is the problem with web2 gaming.

And Sony, the maker of the PlayStation, is trying to change it.

Btw the game we’re playing is  – Grand Theft Auto 6: Stablecrimes.

Grand Theft Auto 6: Stablecrimes

Last week, Sony revealed 2 patents to bring asset ownership to the PlayStation. They wanna do this through NFTs that gamers can own + transfer out of the games.

Sony applied for these patents in 2021 and sat on it for nearly 2 years before making it public in March 2023.

But first – wtf is a patent?

“A patent is kinda like intellectual property where the owner has the right to exclude others from making, using, or selling an invention for a limited period of time.”

It’s like the adult version of “DIBs”

But now we can use lawyers and legal stuff to enforce it. 🤣

Here are the 2 patents Sony filed:

Patent 1️⃣: NFT framework for in-game transfers

Patent 2️⃣: Predicting the value of NFTs

Here’s the big takeaway from these patents:

“Accordingly, as further recognized herein, the functionality of the game may be enhanced by enabling gamers and/or spectators to exclusively use the asset and possibly transfer its rights to others via NFT.”

Allow us to explain. 🤓

In-game characters or parts of in-game characters within Sony’s games (God of War, The Last of US, Unchartered, etc) or the ones on Sony’s consoles (PlayStation) can be turned into → NFTs.

What can be turned into NFTs?

Here’s 👇 what Sony mentioned

💪 skill

🧥 skin

👤 avatar

🗡️ weapon

🎭 artwork

What can gamers do once these in-game features are turned into NFTs?

They can:

  1. Collect → These can either be in versus-battles against other players, or by versus-computer battles like completing missions, questions, or earning cumulative points.
  2. Trade → Gamers can buy + sell + transfer them between individual accounts. Sony is also making it inter-transferable between gaming consoles, i.e. between PS4 and PS5.
  3. Create → The patent also mentions the creation (or minting) of the NFT and the ability to move ot between different games.

From the patent 👇

“The digital asset (and even first NFT itself) may be created and maintained in an agreed-upon standardized or unified file format for cross-compatibility across multiple different games and multiple different platforms/consoles (from different manufacturers) so that the asset is usable/readable across different games and platforms.”

Imagine Kratos using a sniper from The Last Of Us to fight off the Tatzelwurm. 😟

Beyond this, one of the patents hints at Sony creating a way for “predicting value of NFTs.”

This is fancy talk for → building a marketplace for these in-game NFTs.

Sony uses the example of the bidding process for The “Boss Sword” NFT in the patent 😂

I’m 💀 serious:

Sony's example of the bidding process for The “Boss Sword” NFT in the patent

Really Sony?

After coming up with weapon names like:

⚔️ Blades of Chaos

🔪 Blade Of Olympus

🪓 The Leviathan Axe

Ya’ll going with – 😎 The Boss Sword? 🤣

But it’s still a cool thing NGL.

Having the chance to buy an in-game asset like a sword off a cool game like God Of War (or whatever you play 💁‍♀️ ) is sick af! 👌

And using it in-game to kill other medieval characters is sicker.

But you know what’s the sickest?

Covid-19.

The ability to either trade these NFTs outside the game across other games or even across blockchains.

Sony is, probably, doing the former, but probably not the latter. 🤷‍♂️

Also, the patent has no mention of a wallet connection to transfer crypto into the games → buy the NFTs → play with them in the game → earn more NFTs → sell the NFTs → transfer the money out.

Sony is probably not making a whole new kinda web2 🤝 web3 game.

Instead, they’re tryna make an interconnected economy within Sony games and even Sony-consoles-based games.

Tbh, this is a neat step. And they’ve got LEGAL DIBs 🧑‍⚖️ on it through the patents.

But how will it pan out?

At Innmind, we’re super 🔥 excited for the new wave of web2 gaming + complete with an in-game economy through NFTs as commodities.

But what do you think of this?

And if you’re a web3 gaming company tryna build the next Sony, give us a 👋 and pitch it on our next GameFi pitching sessions.

(I’m gonna go back to playing FIFA on the PlayStation 😮‍💨)

Read Also:

VC Pitching Sessions For Web 3 Startups

Apply to pitch your startup in front of the top-tier Crypto Venture Capital funds at InnMind’s online and regular web 3 Pitching Sessions!

Startup Hustling: All You Need To Know About That

Today, let’s talk about startup hustling whatever it means, and why entrepreneurs in crypto shouldn’t ignore it!

Top 20 Web3/Crypto VC Investors, that Write Checks on a Bear Market

Who said that VC investments are stopped on a bear market? We made a list of active crypto and web3 VCs, that recently invested in web3 startups

Time Stamp:

More from In Mind