Electronic Arts seems to have backtracked on its commitment to NFTs. The company proclaimed it was “an important part of the future of our industry” in the earnings just three months ago but it might now be rethinking its position.
NFTs, or Non-fungible tokens, are a controversial issue amongst gamers. Some are willing to fork out hefty fees to get a one-of-a-kind piece of digital art, while others think it’s a scam for companies to squeeze more money out of them. Either way, gaming publishers like Ubisoft have already started selling NFTs, and companies like Gamestop have also jumped on the bandwagon.
When asked about NFTs in the latest earnings call, EA CEO Andrew Wilson started positive and explained how new technologies fuel growth and investment and highlighted AR and VR as examples. “I believe that collectability will continue to be an important part of our industry and the games and experiences that we offer our players,” Wilson added.
He then went on to say, “Whether that’s as part of NFT and the blockchain, well, that remains to be seen,” before finishing off his answer with, “We’ll evaluate that over time, but right now, it’s not something that we’re driving hard against.”
EA’s shift in tone isn’t surprising, considering the recent controversy surrounding NFTs. The OpenSea NFT marketplace recently announced that up to 80 percent of the content created on its platform is fraudulent, and designers at Activision Blizzard are against NFTs in their games. EA might be backing down for now, but considering its reputation, it will want a piece of the NFT pie if there’s money in it.