Video games double down on NFTs despite historical setbacks

Blocks are linked together in concept art for video games and NFTs.

Image: Golden Sikorka (Shutterstock)

We were so close. How The NFT market survived one meteor crash after anotheras well as some crypto games hundreds of millions of lost money, there for a second it seemed that the gaming industry could come to its senses. But no. Just this week, two major parties announced their intention to merge NFTs and video games.

Square Enix, the legendary publisher that seems intent on burying every ounce of goodwill it’s built up over the years and then dancing on the grave, is doubling down on his obsession blockchain technology.

Earlier this year Square Enix sold several prestigious studios-including god out manufacturer Eidos Montreal and tomb Raider stewards of Crystal Dynamics for $300 million. Around the same time The company has stated its clear intention do everything possible to implement blockchain technology in their games. companies report for the 2022 shareholders meetingposted this weekby using Siliconra), said it plans to introduce “story-driven NFTs” into its games.

It is unclear exactly how this blockchain technology will introduce any new features not yet found in video games. Representatives from Square Enix did not respond to a request for comment.

Also this week, the duo of former PlayStation executives Michael Mumbauer and John Garvin announced the formation of a new studio. Liitos (slogan: “From the impossible to the inevitable”), which plans to develop games on Hedera crypto network. Mumbauer, who previously co-founded indie studio It’s not the moon, resigned from his role as CEO earlier this year. (That’s No Moon was formed last year and still hasn’t released a game.) Here’s part of his mission for Liithos:

I want to see a world where the characters and stories I love don’t end after I finish the game. This has been my dream for decades. The biggest hurdle to overcome was that there was no sensible way to connect the different worlds of entertainment in the right way. Web 3 will open up opportunities to transform the way entertainment is done. Imagine reading your favorite comic or watching the latest season of your favorite TV series, but they are all based on the same amazing world. Moreover, by watching the show, you will get something that will add incredible pleasure to the game. Is it possible?

First game from Liithos Ash Falls, a post-apocalyptic action game set hundreds of years in the future in the Pacific Northwest. Liitos is selling comics now based Ash Falls for $100 (“expected delivery September 23”). Garvin, who previously wrote and directed the open world survival game. days gone bywill serve Ash FallsX creative director.

A volcano erupts on the horizon with many plane crashes in the foreground.

This is concept art for Ash FallsNo Outriders.
Image: Liitos

It is unclear exactly how Liithos plans to host a blockchain-based game that has passed the certification processes of historically rigorous console showcases. Through a spokesperson, Mumbauer said Kotaku that “development will take some time, [but] we believe that technology integration that will enhance our trans-media goals will eventually go online. As an alternative, we intend [to] give some attention to the technology backend to connect the environments together if not created which we could use to Ash Falls“.


This week, NFT.NYC hosts its fourth annual festival, which sees a horde of crypto-bros descend on New York. One of the main stages was right across the street from Kotaku Headquarters; walk from the subway to the office every day meant wading through a sea of ​​fleece half-zips, polyester chinos, and red plastic straps. During non-working hours, guests flocked to the galleries of Soho and Williamsburg to sip sour prosecco and talk in subdued reverent tones about Gary Vee.

It’s one thing to hear about it, read about it, or watch from afar as a reputable publisher of usually excellent games make terrible business decisions. It is quite another thing to see the ardor so palpably in person.

We were so close.

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