Electronic Arts CEO Thinks NFTs and Play-to-Earn Are Part of the Future of the Gaming Industry
Electronic Arts (EA), an important gaming and entertainment-oriented company, has made insightful remarks about the importance of NFTs and the play-to-earn model in its last earnings call. Andrew Wilson, CEO of the company, addressed the subject in response to several questions posed by business analysts.
Electronic Arts Open to NFTs and Play-to-Earn
Electronic Arts, the company behind gaming sports franchises like FIFA and NBA, has assessed the importance of new technologies like NFTs and the play-to-earn model for the gaming industry. During the company’s latest earnings call, Andrew Wilson, Electronic Arts’ CEO, stated that while the conversation around NFTs and play-to-earn was still very early, these cannot be ignored as an important part of what might be to come in the industry.
When asked about the negotiation for the FIFA license, Wilson stated:
When we kind of interact with our hundreds of millions of football fans… they want more modalities at play inside the game, which go beyond just straight 11 on 11 football. They want more digital experiences outside the game, esports, NFTs broader sports consumption and they want us to move really, really quickly.
Wilson’s remarks point out that the technology in gaming is moving at incredible speeds, with fans wanting more and more involvement in the ownership of these virtual worlds and the experiences associated with them.
Answering another question from an analyst, Wilson recognized the validity of these new trends for upcoming innovations in the mainstream gaming arena. Wilson stated:
The play-to-earn or the NFT conversation is still really, really early… there’s at some level, a lot of hype about it. I do think it will be an important part of the future of our industry on a go-forward basis. But it’s still early.
NFTs as Collectibles
NFTs have had tremendous success as part of digital collections that appeal to the traditional collector, but also to newcomers to the environment. There are examples of this happening in the industry. One of them is the NBA Top Shots franchise, which helps fans treasure the most memorable shots from their favorite players, taking collectibles to the next level. Last May, the app had already crossed the million user mark.
This kind of engagement is what is driving traditional companies to these new technologies. Electronic Arts is not alone. Ubisoft has also given statements about the importance of NFTs for the future of the industry and is actively investing in companies like Animoca Brands, that develop blockchain-based games.
What do you think of the Electronics Arts CEO’s statements on NFTs and play-to-earn? Tell us in the comments section below.