A leading video game company has made changes to its rules of operation to prevent the utilization of non-fungible tokens (NFTs).
What Happened: Rockstar Games, a unit of Take-Two Interactive TTWO, is banning the use of cryptocurrencies and NFTs from its servers. The move follows Microsoft Corporation's MSFT banning NFTs from its popular “Minecraft” video game.
According to its website, Rockstar Games supports third-party roleplay servers but enforces several items that fall in line with its policy.
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The terms say it does not support the sale of loot boxes, the sale of virtual currencies, generating revenue from sponsorships or the use of crypto assets like NFTs from its third-party servers.
A report from The Block highlighted MyMetaverse, a company that integrates NFTs of items like cars and swords, for using the third-party servers of “Grand Theft Auto V” — one of the bestselling video games in history.
Mojang Studios, which created “Minecraft,” banned NFTs from its servers in July. This put the future of companies like NFT Worlds, which used "Minecraft" as the basis for an open virtual world, into question.
Why It’s Important: Video game companies have been mixed on the usage and availability of NFTs for current use and the future.
Benzinga recently reported on several trademarks filed in the NFT and blockchain sectors by gaming giant Sony Group Corp SONY.
Gaming companies including Ubisoft UBSFY and Square Enix SQNNY are among the largest video game companies to show support for the Web3 gaming sector.
Video game retailer GameStop Corp GME launched its own NFT marketplace to enter the space and has plans to offer gaming related NFTs through partnerships with gaming companies.
The latest move by Rockstar Games and Take-Two doesn’t necessarily signal it is against Web3 gaming, but instead might be pushing to have more direct control or fully monetize it on its own.
One rumor for the highly anticipated Grand Theft Auto sequel, “Grand Theft Auto VI,” is the introduction of a cryptocurrency system that could be similar to Bitcoin BTC/USD.
Take-Two said earlier this year it was interested in opportunities in the NFT gaming space.
“We’re highly convinced there’s an opportunity for NFTs to fit with Take-Two’s offerings in the future,” Take-Two CEO Strauss Zelnick said.
Zelnick said there was concern in speculation of NFTs and making sure consumers weren’t losing money.
Mobile game company Zynga, which was acquired by Take-Two, also announced plans to further its push into blockchain related gaming.
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Hear more about Web3 gaming on Tuesday's epsidoe of The Roadmap below.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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