Video game companies are finding themselves at crossroads when it comes to NFT and Metaverse adoption.
Move too fast, and you receive backlash from your fans for attempting a ‘cash-grab’. Move too slow, and you may very well end up missing on what could be the next gaming revolution.
While some established gaming companies have made their decisions on NFTs and the Metaverse, Nintendo is still not quite sure where it stands.
During a Q&A session after the company released its latest financial results, questions related to the NFT and Metaverse came up.
David Gibson, an analyst who was present, said that Nintendo expressed some interest in the Metaverse, but still doesn’t know how they can possibly contribute.
“We do have interest in this area, we feel the potential in this area, but we wonder what joy we can provide in this area and this is difficult to define right now,” the company said in relation to the metaverse.
Gaming is expected to be the one industry that will be completely transformed by the metaverse, but at the moment very few know exactly how.
NFTs and the Metaverse have received a bad rap in the gaming community. Just this week, game developer Team17 was forced to cancel its ‘MetaWorms’ NFT plans after strong backlash from their fans.
However, as established developers remain reluctant to get on board, startups with no existing communities to piss off are happy to fill the void. And many of these are doing well, particularly in the P2E space.
