Ubisoft recently announced it would be the first major video game publisher to introduce in-game NFTs.
Ubisoft, maker of games such as Assassin's Creed and Prince of Persia, announced that its new Ubisoft Quartz platform would allow players to purchase and win in-game items that are minted as Tezos NFTs, digital tokens representing ownership of an asset.
Tom Clancy's Ghost Recon Breakpoint will be the first game to feature non-fungible tokens.
By integrating NFTs into games, players could have a stronger sense of investment in the game, and build the framework for the interoperability of games and secondary markets.
Tezos' native XTZ coin's price increased by 35% on the news. Despite dipping below $4 on Monday, the crypto traded as high as $5.51 on Wednesday, according to CoinGecko.
Tezos' coin price might have been further boosted by an announcement that the blockchain had improved its transaction energy efficiency by 70 percent or more. As a result, sending and receiving XTZ–or doing other transactions on the network, such as buying NFTs–costs much less than they used to.
NFTs do not rely on unnecessary electricity to produce, so their environmental impact may be lessened by this update. On the other hand, the cultural value of video games is certainly in question.
Ubisoft and Tezos compared proof-of-stake blockchain technology to Bitcoin, its energy-intensive cousin, in their press release, claiming that the former utilizes "more than 2 million times less energy" than the latter.
Nicolas Pouard, VP of Ubisoft's Strategic Innovation Lab, said in a statement that Ubisoft Quartz is the first step in developing a true metaverse. "It can't be realized until blockchain's early-form limitations are overcome, including its scalability and energy usage."
In a December 3 company post, Pouard also provided an overview of Ubisoft's five-year vision for blockchain gaming, which includes play-to-earn models.