Distributed ledgers, in the form of blockchain technology, are jostling their way into financial markets, healthcare systems and the global supply chain, but perhaps the most significant disruption has yet to come. In recent months, nonfungible tokens (NFTs) have taken the spotlight as a stamp of legitimacy for digital goods, ranging from art to worn-out internet fads. However, the gaming industry is uniquely suited for the integration of NFTs, something already recognized by several notable entities in the gaming industry, particularly Sony (NYSE:SONY), Ubisoft, GameStop (NYSE:GME) and even Sega.
If you find this hard to conceive, the analogy of the livable arcade depicted in Ready Player One presents a functional way of elucidating what shape a blockchain-based gaming industry could take. The film, based on the Ernest Cline novel of the same name and directed by Steven Spielberg, tells the story of a teenager on a quest to find the keys to a hidden fortune within the virtual world of the OASIS — the Ontologically Anthropocentric Sensory Immersive Simulation. Interestingly, the connection to blockchain technology was made even prior to the film’s release.
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