Sony reveals NFT trading patent for PlayStation
Sony has revealed a new patent application that will allow PlayStation players to trade NFTs across different platforms. Before the advent of non-fungible tokens, this was not possible due to technological limitations. However, Sony believes it has figured out a way to seamlessly trade game assets across the various games it supports.
The patent was filed last year; however, it has only recently come to light. Sony intends to develop a blockchain-backed marketplace where users can sell their NFTs to other players, with prices publicly listed. In addition, the marketplace will also allow the rental of in-game assets between players.
Dubbed “NFT Framework for the Transfer and Use of Digital Assets between Gaming Platforms,” the patent describes a “system and method for tracking digital assets associated with video games.” These can represent items, characters or skins in the game. Furthermore, players will also have the option to enter special games and earn money from them as NFTs. All this data will be stored on a publicly accessible distributed ledger, making ownership transparent and traceable.
The many game patents from Sony files
The patent indicates Sony’s growing love for NFTs and distributed ledger technology. Gaming is one of the main industries experiencing a revolution thanks to blockchain technology. NFTs in particular play a major role in allowing monetization of in-game assets.
By filing a patent of this nature, Sony hopes to block competitors from copying its ideas, while giving the company a license to continue to innovate without incurring royalties. However, that does not definitively mean that the company will implement the technology anytime soon. For example, Sony’s game-related research and development arm registers nearly a thousand patents annually. In just the last 3 months of this year, the company has been awarded 170 patents, according to the USPTO database.
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*All investment/financial opinions expressed by NFT Plazas are from personal research and experience of our site moderators and are intended as educational material only. Individuals are required to research all products before making any type of investment.
Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media around the world.
