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Embracing the future of Gaming with NFT’s

11 November 2021

Continuing from our previous article, we wanted to have a look at the recent news surrounding major gaming industry leaders adopting and implementing NFT's and blockchain technology into their games and products. It’s always good to stay ahead of the curve and stay secure.

Ubisoft

Leading French video game development and publisher Ubisoft recently announced their plans to continue being key players in the industry by adopting and developing more play-to-earn games. While the company’s endgame remains to be kept secret, we know that they recently invested in Animoca Brands, a blockchain gaming company and owner of Ethereum-based metaverse game The Sandbox, while also announcing its plans to integrate NFT's and blockchain technology into its video games releasing in the future.

During this announcement, Ubisoft Chief Financial Officer Frederick Duguet spoke about their play-to-earn plans.

"[Blockchain] will enable more play-to-earn that will enable more players to actually earn content, own content, and we think it's going to grow the industry quite a lot. We've been working with lots of small companies going on blockchain and we're starting to have a good know-how on how it can impact the industry, and we want to be one of the key players here,"

EA Games

Ubisoft wasn’t the only one to join the metaverse, with EA CEO Andrew Wilson calling play-to-earn games “the future of our industry.” However, unlike Ubisoft, EA is still looking into how they could incorporate NFT's in their games and how to break into this growing market. But with the popularity of titles such as Axie Infinity shows that play-to-earn products could easily find a solid player base if the product is well-refined.

Square Enix

Square Enix has also stated that it intends to explore non-fungible currencies and blockchain integration in its games and brands further. Sales of NFT's for Million Arthur, a Japanese game and anime brand, were a success earlier this year, with a Million Press set sold out within two weeks, and Square Enix is interested in taking advantage of this trend and expanding further into the industry.

The ever-growing need for Security

We’ve already seen the success of play-to-earn games such as Blanko’s Block Party, and the high potential for profit with individuals splashing out millions for high-profile and celebrity NFT's, it’s understandable why these major-league brands want to join the metaverse. But something they also need to be mindful of is the level of security surrounding this new trend, for both their business and their players.

Giving players more control over their skins, collectables and more, NFT's enhance the gaming experience, making it easier to buy and sell those assets with other players, and providing developers with a new revenue source through in-game transactions. If a gamer has an NFT of a virtual object they made or purchased a skin for a game, they may be confident that the asset will always be theirs. So, it’s even more gut-wrenching when hackers steal their real-value digital assets.

Our priority is always security and the protection of developers and gamers. For those who are unaware, the blockchain idea has been demonstrated to be secure in design. Although this is fully dependent on the implementation and the custom nature of decentralized systems and smart contracts. Because so many of these industry leaders are both invested in the blockchain and NFT world or plan to in the coming year, the need for airtight security testing has never been more essential.

As more companies incorporate the blockchain into their games, they also bring along both a new wave of players and, unfortunately, hackers. We already established that hackers target the gaming business for a variety of reasons, and they are a persistent concern. When you throw in the capacity to produce new NFT's, you've got a massive problem. The blockchain is safe, but only to the extent that your application is secure. Our penetration testing and cybersecurity services are designed to make your game and your business more secure online.

Using our testing services and software development experience, we assist in the creation and security of apps that empower organizations. By assisting in the development of innovation and creativity in both gaming and cryptocurrency, we continue to push the boundaries.

To discover more about Cyrex, check out our blog and portfolio page. We also offer comprehensive, manual penetration testing for games and non-gaming applications. For any other questions, please get in touch.