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Gaming company Ubisoft goes back on NFT project and claims it’s in ‘research mode’

Ubisoft CEO takes back NFT enthusiasm, says company is in 'research mode'

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Although non-fungible tokens (NFTs) have been successful, they have also received quite a bit of criticism.

Even the big brands that jumped on the NFT hype have faced backlash from fans, and Ubisoft is the latest to find out what that feels like.

Ubisoft

Yves Guillemot, the gaming giant’s CEO, appears to be dying down the company’s enthusiasm for NFTs.

The decision comes months after a strong push back for Ubisoft’s NFT project, Quartz.

In a recent interview, he said the company was in “search mode” regarding Web3 technology integrations.

Previous sentiments

Guillemot’s words are far from what Ubisoft executives said earlier.

In October, CFO Frederick Duguet said blockchain integrations would allow users to own and earn content.

Duguet also noted that Ubisoft wants to be “one of the key players here.”

Backtrack on their sentiments

In an interview on Saturday, Guillemot pointed out that the company’s current focus is to determine how NFTs can be applied to games and the potential benefits they bring to players.

“We are very much on cloud, on the new generation of voxels, and we’re looking at all the Web3 capabilities,” he said.

“We tested a few things recently that are giving us more information on how it can be used and what we should do in the universe of video games.”

“So we are testing ground with some games and we’ll see if they really answer the players’ needs,” he added.

“But we are still in research mode, I would say.”

First push with NFTs

Ubisoft got involved in NFTs last December when it released a beta version of Ubisoft Quartz. Ubisoft Quarts is designed to provide players with playable NFTs for use in games such as Tom Clancy’s Ghost Recon Breakpoint.

The decision drew heavy criticism from members of the gaming community, especially those who are adamantly opposed to NFTs.

Critics accused the company of “milking” every penny it could from its popular game franchises by releasing NFTs.

Nicolas Pouard, vice president of Ubisoft’s Strategic Innovations Lab, defended the NFT effort.

“I think gamers don’t get what a digital secondary market can bring to them,” he said.

Referring to the company’s NFT deployment, Guillemot says the companies ultimately failed to effectively communicate their approach to the project.

“We probably were not good at saying we are researching this,” he explained.

“We should have said we were working on it, and when we have something that gives you a real benefit, we’ll bring it to you.”

Gamers also urged Ubisoft’s CEO on the environmental impact of blockchain technology.

Since the NFT boom, gamers have generally confused energy-intensive Proof-of-Work (PoW) chains as the industry standard for all projects.

Guillemot also said he is cautious about the environmental impact of the industry, adding that he is optimistic that the problems will be resolved over time.

“Like so many things, at the beginning it’s not as good as it could be, but like other new technologies they will find the right way.”

Reference:

Ubisoft cools off on NFT and blockchain, says it’s in ‘research mode’

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