Nintendo “Feels the Potential” in NFTs and the Metaverse, but Doesn’t Know What to Do with Them

Nintendo says it has "interest in this area", but the company is unsure how it can "provide joy" with any NFT-related plans.

Posted By | On 03rd, Feb. 2022

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NFTs are a sticky topic, because though it’s an area that a number of tech corporations around the world see a lot of economic potential in, amongst the masses and audiences (and many even in tech industries) aren’t exactly fans of the whole concept. But while some like Xbox and Valve have publicly criticized the direction the NFT space and the metaverse are taking, others like Ubisoft and Square Enix seem to be thoroughly invested in the ideas.

So where does a notoriously old-fashioned and eccentric company like Nintendo fall within that spectrum? Surprisingly enough, somewhere in the middle. As reported by analyst David Gibson on Twitter, during Nintendo’s recent quarterly earnings presentation, when asked about the metaverse and NFTs in a &A, the company said that though it’s interested in NFTs and they’re potential, they’re not quite sure about how to leverage those spaces to “provide joy” to users.

“We do have interest in this area, we feel the potential in this area,” Nintendo said. “But we wonder what joy we can provide in this area, and this is difficult to define right now.”

Specifically where the games industry is confirmed, developers and publishers haven’t exactly found the best of success with implementation of NFTs. The likes of Team17 and GSC Game World have both had to cancel previously announced plans due to widespread backlash, while the likes of Sega and EA have seemingly tried to distance themselves from their previous stances on NFTs as well.

As part of its earnings call, Nintendo also announced that the Switch has now sold 103.54 million units worldwide. Read more on that through here.


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