Sony Interactive Entertainment has recently released a patent publication that discusses the company’s plans to integrate NFTs into PlayStation. According to the patent, Sony will provide a rental feature for NFTs on PlayStation 4 and PlayStation 5 to its players and streaming viewers.
PS5 users can rent tokenized artworks and other digital assets from popular games on the console. This opportunity will run for a limited time and be shown on the PlayStation 5’s user interface.
Interested parties can view the terms of ownership of these assets for players and viewers. The patent also addresses the varying rental prices available for players and streaming viewers. As soon as the rental period is up, the digital asset will go back on the market and will be made available for other users to rent or buy.
Players who own the rented NFTs might benefit from the transactions. By navigating the PlayStation user interface, players will be able to access the NFT market from their PS5 consoles. The patent gives a thorough breakdown of the required structures and workable that need to be in place for players and spectators to rent NFTs on their consoles.
The gaming giant has been interested in incorporating non-fungible tokens into its consoles for quite a while. Sony filed this patent on the 6th of July last year. At the arrival of the next month, PlayStation surveyed the interest of its players in these digital assets.
In October, the PlayStation Stars loyalty program made its debut and featured digital assets similar to NFTs. Although these collectibles had no monetary value, they sparked speculation that NFTs would soon be incorporated into the PlayStation community. Sony released a patent in November 2022 that gave hints about PlayStation developing non-fungible tokens and blockchain technology.
In the nearest future, Sony might add an NFT marketplace to its PlayStation 5 console as part of its move to gauge the survival of NFTs in the PlayStation ecosystem. However, that move to launch an NFT marketplace has not yet been publicly confirmed by the gaming provider.
Japanese rival, Konami, has also shown interest in the NFT space. The gaming giant, renowned for games like Pro Evolution Soccer and Metal Gear Solid, is looking to develop new blockchain-based games and develop an NFT marketplace.
Are gamers keen on NFTs?
Although game developers are showing interest in integrating NFTs and other digital assets into their ecosystems, a huge number of gamers do not share the same thoughts. Players are afraid that these digital assets will be used to exploit themselves. It does beg the question of what the future holds for NFTs and conventional games.