Non-Fungible Ethereum Tokens Headed for PS4

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Non-Fungible Ethereum Tokens Headed for PS4

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Video game publisher Arcade Distillery is reportedly creating games that integrate Ethereum non-fungible tokens (NFTs), starting with Plague Hunters, which will be available on the PlayStation 4 (PS4). A new branch of Arcade Distillery called the Blockchain Distillery has been launched to integrate NFTs into more games in the future.

NFTs give gamers full ownership of in-game collectibles like weapons, armor and power-ups, via a private key for each collectible that the gamer controls. Further, the NFTs are cryptographically secure, which prevents hacking. The only way to gain ownership of an in-game collectible linked to an NFT is by obtaining the private key. This is unlike non-blockchain games, where in-game collectibles of the same type are fungible, making them less secure. If someone’s account got hacked, all the collectibles could be easily drained out and due to their fungibility, there would be no way to distinguish and recover them.

NFTs are also useful in the event of losing account access, for example, due to the PS4 crashing or the game platform itself experiencing a system failure. NFTs are stored in the Ethereum blockchain and are independent of the game platform.

Using NFTs paves the way for a peer-to-peer exchange where gamers can trade in-game collectibles. Fiat currency and cryptocurrency can be used to buy NFTs from other players. The Blockchain Distillery is building an integrated exchange platform to make this process seamless.

CryptoKitties is an example of a game that uses NFTs. Highly popular for a time, CryptoKitties collectibles were exchanged peer to peer for Ether. The technology that Blockchain Distillery is building could be implemented across all popular games, creating a new mechanism for gamers to earn money via the exchange of NFTs.


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