sony has revealed a new patent application that will allow PlayStation gamers to trade NFTs across different platforms. Before the advent of non-fungible tokens, this was not possible due to technological limitations. However, Sony thinks it has figured out a way to seamlessly swap game assets across the different games it supports.
The patent was filed last year; however, it has only recently come to light. Sony intends to develop a blockchain-backed marketplace where users can sell their NFTs to other players, with published prices. In addition, the marketplace will also allow the rental of in-game assets between players.
Bent “NFT framework for transferring and using digital assets between gaming platforms” he the patent describes to “system and method for tracking digital assets associated with video games”. These could represent items, characters, or skins from the game. In addition, players will also have the opportunity to record special plays and monetize them as NFTs. All of this data will be stored in a publicly available distributed ledger, making ownership transparent and traceable.
The many game patents Sony Files
The patent signifies Sony’s growing affection for NFTs and distributed ledger technology. Gaming is one of the main industries that is undergoing a revolution thanks to blockchain technology. NFTs, in particular, are playing a huge role in enabling the monetization of in-game assets.
By filing such a patent, Sony hopes to prevent competitors from copying its ideas, while giving the company a license to continue innovating without incurring royalties. However, it does not conclusively mean that the company will implement the technology anytime soon. For example, Sony’s game-related research and development division files nearly a thousand patents a year. During the last 3 months of this year alone, the company has obtained 170 patents, according to the USPTO database.
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*All investment/financial opinions expressed by NFT Plazas come from the personal research and experience of our site moderators and are intended for educational purposes only. People are required to fully research any product before making any type of investment.
Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the world.
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