Nintendo shows interest in NFTs and the Metaverse

NFTs have been a hot issue recently, with Team17’s launch of its own line of non-fungible tokens causing the most recent uproar. One of the issues asked during a Q&A session following Nintendo latest financial results concerned NFTs and the’metaverse.’

Nintendo’s lifetime Switch sales totaled 103.54 million units, according to the company’s latest financial report. This not only surpasses the 100 million mark, but it also surpasses the Wii’s 101.63 million units sold.

Nintendo’s response was not one of rapid dismissal, according to analyst David Gibson, who was present. Nintendo’s main point of interest would be the metaverse.

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Nintendo will legitimately be interested in any new technology

Nintendo is in the business of making money, so any new technology that allows it to do so will be of interest to the company. However it’s evident that the corporation is treading carefully with both notions.

A ‘metaverse,’ first proposed by Neal Stephenson in his 1992 novel Snow Crash, is a network of 3D virtual worlds that foster social connection. In addition the term has become somewhat of a clich√© thanks to sites like Facebook.

Many businesses are looking for ways to profit from the concept of the ‘metaverse,’ and Nintendo appears to be one of them.

The public’s reaction to NFTs has been overwhelmingly negative. Along with Team17, which may have harmed its reputation with its canceled NFT intentions. Voice actor Troy Baker backed out of a partnership that would have seen voice samples minted as NFTs after an outpouring of criticism online.

Companies such as Konami and Square Enix have all expressed interest in NFTs recently

Konami, Square Enix, Sega, and Electronic Arts have all lately expressed interest in NFTs. However Sega has stated that it will not pursue the idea if its fans are against it. Ubisoft, on the other hand, claims that fans are now unaware of the benefits of NFTs.

Image credits: Shutterstock, CC images, Midjourney, Unsplash.

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