Ubisoft is officially getting into NFTs (Ubisoft is Bringing NFT Gear to Ghost Recon). On Tuesday, the company announced a new platform, Ubisoft Quartz, where it will offer NFTs that it’s calling Digits.
The Digits will be available first as in-game items like vehicles, weapons, and equipment in Ghost Recon Breakpoint in beta on Windows beginning later this week, according to a press release.
NFTs, or non-fungible tokens, are unique digital goods that can be bought or sold with ownership that is tracked on the blockchain. NFTs are gradually becoming a very popular way to attempt to add value to digital goods, and that seems to be part of what Ubisoft is trying to do with digits.
Ubisoft is Bringing NFT Gear to Ghost Recon
The company says that each Digit is unique, will track who has owned it over time, and will have its own serial number that can be seen in-game. Digits are only cosmetics, according to Ubisoft’s Baptiste Chardon, and “do not affect the gameplay in any way.”
NFTs have come under scrutiny for their effects on the environment, but Ubisoft is claiming Digits are energy-efficient because its Quartz Platform uses Tezos, a proof-of-stake blockchain that requires less energy.
Ubisoft Plans to Release Digits
Ubisoft plans to release Digits “as part of limited Editions,” each will only after a “fixed number” of items, and players can only own one of each Edition.
That could create scarcity for the items, and Ubisoft says players will be able to resell Digits if they choose because Digits are stored on the blockchain. (Blockchain isn’t a requirement to be able to resell digital goods Blizzard let people do it years ago in Diablo III’s Auction House.)
Ubisoft is first offering three “drops” of free Digits on December 9th, December 12th, and December 15th.
You can get them if you are playing Ghost Recon Breakpoint on Ubisoft Connect for Windows, have reached level 5, are at least 18 years old, and live in the US, Canada, Spain, France, Germany, Italy, Belgium, Australia or Brazil. More drops are planned for early 2022, Ubisoft says.
Ubisoft Recently Signaled Its Interest in Blockchain
Ubisoft recently signaled its interest in blockchain in its most recent earnings and by investing in Animoca Brands, a blockchain gaming company.
It calls Digits a “large-scale experiment” in “Ubisoft’s four-year exploration of blockchain technology,” so this could be just the beginning of blockchain work from the company.
Valve Has Banned Blockchain Games and NFTs from Steam
EA was also bullish on blockchain and NFTs in its latest earnings report, and Epic says it’s “open” to blockchain games on the Epic Games Store.
But not all gaming companies are on board; Valve has banned blockchain games and NFTs from Steam, Xbox boss Phil Spencer has expressed concerns about NFTs being “exploitive.”
And despite allowing blockchain games on the Epic Games Store, Epic CEO Tim Sweeney said that Epic isn’t using crypto in its own games, meaning you probably shouldn’t expect to see NFT Fortnite skins anytime soon.
A non-fungible token (NFT) is a digital asset that represents a real-world asset. You might have heard of a “non-fungible” asset. A non-fungible asset is an asset that is unique or one-of-a-kind. Because it’s one-of-a-kind, it can’t be exchanged for an asset of equal value, and it has no recognized market price.
NFT represents a digital asset like memes, videos, online artwork, music, video game data (in-game items, virtual avatars, skins, etc.)
How NFT Work
Just like cryptocurrencies, NFTs also utilize blockchain technology. Most NFTs are linked to Ether, which is the cryptocurrency of Ethereum.
Every time an NFT is purchased, the transaction is registered on a network of computers, and the owner is given an access code. Every NFT has a unique digital signature, so one can’t be exchanged for another (unlike cryptocurrencies like Bitcoin).
How to Invest in NFT
It is easy to invest in NFTs, if you know how it works, just follow the steps below;
- Open an account at an NFT marketplace; An NFT marketplace is an online marketplace where NFTs are listed for sale. The most popular ones are Open Sea and Rarible. Be sure to vet the person you’re buying from many creators and celebrities have impersonators that try to sell fraudulent NFTs.
- Create a digital wallet; you will have to create a digital wallet to store your NFT keys and cryptocurrency tokens. You can use an external hardware wallet or an integrated wallet with a cryptocurrency exchange (Coinbase, for example, has an integrated wallet where you can store your keys).
- Fund Your Account: Whether you use a crypto exchange or external wallet, you’ll need to connect your bank account or credit card so you can make crypto for your transactions.
- Buy NFT: Find the NFT that you want to purchase and buy it! The NFT marketplace will usually walk you through the process. It’s not much different than buying something from Amazon.
NFTs have been making headlines lately, some selling for millions of dollars, with high-profile memes like Nyan Cat and the “deal with it” sunglasses being put up for auction. There’s also a lot of discussion about the massive electricity use and environmental impacts of NFTs.