Sony plans to rent NFTs to players and stream spectators through the PlayStation 5

Sony plans to rent NFTs to players and stream spectators through the PlayStation 5

A recent patent publication by Sony Interactive Entertainment sheds light on the company’s aim to incorporate non-fungible tokens (NFTs) into the PlayStation ecosystem through the PlayStation 5. The patent lays out Sony’s intention to provide a rental service of NFTs to both players and stream spectators on the console.

NFTs making their way into the PlayStation 5?

The recently published patent outlines a comprehensive system that provides users with the opportunity to rent NFTs featuring artwork or assets from popular PlayStation 5 games.

The offer, available for a limited time, will be displayed on the console’s user interface and include the terms of ownership for players and spectators alike. The patent’s system also mentions that different rental prices will be available for players and spectators.

The patent filing, made on July 6th, 2022, indicates that Sony has been exploring the integration of NFTs into its consoles for a significant period of time. The interest of players in NFTs was brought to the forefront in August of the same year when PlayStation conducted a survey that sparked controversy due to its inquiries on the matter.

In October, the PlayStation Stars loyalty program was launched, featuring digital collectibles that, while lacking monetary value, were similar to NFTs. This move fueled speculation among PlayStation fans that NFTs would eventually be introduced to PlayStation services.

Gaming giants also joining the NFT space

While Sony has not yet publicly confirmed the introduction of an NFT marketplace or rental program, other companies such as Konami are exploring similar avenues and developing their own NFT marketplaces.

Konami, the Japanese multinational video game company, announced plans to enter the blockchain and NFT space, which generated a lot of excitement and buzz in the gaming industry. The company has also hinted at the possibility of using its NFT platform to create new, decentralized games that are powered by blockchain technology. Konami is best known for its popular video game franchises such as Metal Gear Solid, Pro Evolution Soccer, and Castlevania.

Sony’s own patent on PlayStation blockchain technology suggests that the company may eventually follow suit and create their own NFT marketplace on the Playstation Store. However, many in the gaming community will certainly oppose this move by Sony.

Will the gaming community accept NFTs?

While most game developers are open to NFTs and crypto, a large number of gamers are against the integration of blockchain-based technologies into games.

The hatred of the gaming community towards crypto is based on the fear that NFTs will be used to create a predatory business model that exploits gamers. Additionally, gamers tend to dislike crypto due to the fact that graphic cards are used for crypto mining. The graphic cards tend to skyrocket in price whenever crypto markets are booming, leaving many gamers frustrated as they are unable to purchase them.

In conclusion, the patent by Sony Interactive Entertainment affirms the corporation’s intention to incorporate NFTs into the PlayStation 5 platform. Despite the lack of official announcements regarding an NFT marketplace, Sony’s investments in NFT and blockchain technology research and development indicate that it might eventually launch one in the near future.


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