Why Video Game Giant Ubisoft Backs Tezos Crypto Project

Ubisoft — one of the world's top video game producing studios — joined the Tezos XTZ/USD project as a corporate backer.

What Happened: According to an announcement shared with Benzinga on April 20, Ubisoft partnered with Tezos research and development center Nomadic Labs to start maintaining the blockchain by validating transactions.

Ubisoft is the company behind world-famous video game series such as Far Cry, Tom Clancy's, Assassin's Creed, Watch Dogs.

The firm is not new to blockchain endeavors either, considering that the company became a block producer on the gaming-dedicated blockchain Ultra UOS/USD in early 2020.

Nomadic Labs aims to facilitate the adoption of the Tezos blockchain by the largest number of actors possible.

To this end, the organization supports the parties looking to build on the ecosystem or help develop it, such as Ubisoft.

According to CoinMarketCap data, the price of Tezos decreased by over 18% from its 24-hours high of $6.05 to a low of $4.96 before correcting upwards to its current $5.59 price despite the news.