NFTs are one of the biggest technological developments of the decade and some parties are already showing a substantial interest in it. Square Enix, Coca-Cola, Nike, TIME, etc., and now potentially Playstation with its new loyalty program, Playstation Stars.
On the first glance, it is just a loyalty program rewards player with digital collectibles but community feedback isn’t very positive towards this new system. We are living in a much more fast paced environment and a high quality game launches every month if not every week. Players therefore, are not as loyal to the games or programs as they used to be.
A big brand like Playstation should be very well aware of this but still, why they introduce such a program you may ask and answer for this is to potentially getting ready for the NFT space. NFTs are huge attraction point for both blockchain and non-blockchain users because it offers value for both parties.
But why Playstation’s potential NFT move means more than others? When it comes to NFT valuation, unless they are in-game usable items, their worth comes from the appraised value and not an actual utility. And gaming space has the highest appraised valued items of all items. Think about rare discs of old games, first edition consoles, a rare trophy and more. Gamers dedicatedly pursue such things as trophies all the time and moving these to NFT space means a very large amount of players will be introduced to blockchain technology and presumably have their negative bias broken.
Because players does not feel invested in games and such as they used to be due to abundance of choices, shelf life of games are increasingly decreasing, and integration of NFTs to such platforms or games potentially mean that gamers will feel more invested in both gaming and NFT space.