DeFI News by Thebittimes.Com

Sony and Microsoft are angling to get into crypto gaming. Will they be able to succeed where others in the industry have failed? Sony and Microsoft, two of the biggest names in gaming , have been making significant moves towards blockchain technology in recent years. This is an important development, as it has the potential to not only revolutionize the gaming industry but it could be the Trojan horse that makes blockchain a mainstream possibility. Sony has filed a patent for a system allowing players to transfer digital assets between PlayStation titles using blockchain technology. This would enable unified progress and asset ownership across different games rather than having assets locked to individual games. Sony has also explored tokenizing in-game assets, allowing players to sell and trade them on secondary markets. Leaked documents show that Microsoft is planning to add crypto wallets to Xbox. This would allow players to trade assets across different platforms securely. Micr...

The executives say traditional jobs are increasingly at risk through factors such as automation, but GameFi can provide a viable alternative to earn a wage. Australian-based Web3 game studio Ninja Syndicate's CEO and founder believes GameFi could usher in a new era where users can earn a living wage through blockchain games. Speaking to Cointelegraph, founder John Nguyen and CEO Alex Dunmow say that traditional jobs are increasingly at risk through factors such as automation. According to the game developers, blockchain games can and are playing a vital role for people to earn a living in the digital world through play-to-earn (P2E) and move-to-earn. The process often requires significant work, but Dunmow says many mainstream triple-A games already feature "grinding for hundreds of hours," though the assets "provide no value for the player." In GameFi titles digital assets can come in the form of nonfungible tokens (NFTs); users can then take them to a market...