In a press release shared to industry media, Konami Digital Entertainment announced that it will launch an NFT platform called “Resella” on the Avalanche blockchain. The platform will simplify the creation, issuance, and trading of NFTs, and enable digital experiences.
Konami said in the release that Resella will pave the way for novel social experiences within Web3 and allow for integration of diverse services to enhance user engagement. It gave the example of in-game NFTs “transcending their boundaries” and serving as event tickets or unlocking exclusive content. This will enrich the overall user experience.
Resella will launch on an Avalanche subnet, which will allow for customization. Users will not be charged gas fees for transacting with the technology, and transactions will have consistent speeds. Initially, users will be able to buy and sell solely in the Japanese yen, but Konami plans a global expansion in the future. In addition, those interacting with the platform will have no need for a cryptocurrency wallet, nor advanced knowledge of crypto.
Konami is a Japanese multinational entertainment company headquartered in Tokyo. Its video game franchises include Metal Gear, Silent Hill, Castlevania, and Yu-Gi-Oh!, among many others. This is not its first venture into Web3. In 2022, it launched an NFT collection for Castlevania to commemorate the game’s 35th anniversary.
Gaming Industry Mixed on NFTs
The gaming industry has had mixed feelings about NFTs since the bull run of 2021-2022. Some have embraced NFTs and tried to add them to games, while others have erred on the side of caution and refused to dive in. None of this is more apparent than the rivals Epic Games and Steam, which have taken vastly different approaches to blockchain-based games.
But there is hope for those gamers who want to see NFTs in games. Companies like Sega, Ubisoft, and Square Enix are pushing ahead with plans to use NFTs in some manner. For instance, Sega is debuting Web3 games in the Finschia ecosystem, while the NFT collection for Ubisoft’s new Web3 title ‘Champions Tactics: Grimoria Chronicles’ sold out in minutes.
11 months ago, two esports players — Erik Engel and Max Ng — expressed interest in blockchain gaming, surprising some in the industry. Both said blockchain gaming features could reward players for the time they spend on a game. In a 2022 survey, Statista showed that 63% of U.S. adults play video games between 1 minute to 24 hours or more during a week.
Still, it has been tough for companies to convince players to adopt NFT technology. Many users believe that the technology doesn’t add much value to games and can even be a detriment: The games become ‘pay-to-win,’ which tilts the competitive landscape. The players have other concerns as well, whether founded or unfounded, that will act as barriers.
As these stories show, the integration of NFTs in video games has a long way to go, but many companies are trying. And if a big name like Konami can jump in, maybe others will follow suit.