Konami Bucks Negative NFT Gaming Sentiment With Marketplace Reveal
Japanese game company Konami is looking for talent for web3 and metaverse development. The company also plans to launch an NFT marketplace at a time when most other game companies have dropped them.
Japanese entertainment conglomerate and video game company Konami revealed on October 13 that it was recruiting personnel for Web3 and metaverse development. Of particular interest is the fact that the company plans to launch an NFT marketplace for trading in-game digital items.
Konami is looking for employees who will work in the roles of system engineering and service development to provide new experiences such as Web3 and metaverse. The company believes that new technology, such as an NFT marketplace, will help expand its business as the entertainment industry grows. The announcement reads,
“We have been conducting research and development to incorporate the latest technology into games and content, and plan to launch a service where players can trade their NFTs (digital items) in-game through a unique distribution platform using blockchain.”
Konami has several intellectual properties that can bolster any metaverse ambitions. The company has such IPs as Castlevania and Metal Gear, which are particularly popular among the gaming community.
Konami NFT interests grow
This isn’t the first time Konami has dabbled in NFTs. The company has expressed interest in the unique assets for some time now, just as other gaming companies have.
In January 2022, the company celebrated the 35th anniversary of the Castlevania series by releasing a collection of NFTs alongside it. Obviously, the backlash after that release has done nothing to deter Konami from using the technology further. There were a total of 14 artworks with an NFT that sold for an average of approximately $12,000.
However, the gaming community itself was not particularly happy about the decision. More users took to Twitter to condemn the move and also said the company should turn its attention to other priorities.
Game studios less psyched on NFTs
The NFT market has swept through the gaming industry over the past 18 months. For example, another Japanese giant, Square Enix, has taken several steps to enter the blockchain space. The company sold several of its key IPs, including Tomb Raider, to invest in blockchain technology. It also partnered with double jump.tokyo to collaborate on NFT content development.
The gaming community quickly criticized Square Enix’s NFT blockchain pivot. Players were concerned about potential monetization strategies and the environmental impact of NFTs.
However, the intense decline from the gaming community has dampened the ambitions of the gaming companies. For example, Ubisoft is not releasing any more NFT content and support for the Ghost Recon Breakpoint game. At the same time, even popular crypto games like Axie Infinity are seeing their NFT sales fall.
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