Nintendo ‘has an interest’ in NFTs and Metaverse but ponders what ‘Joy’ can offer

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Photo: Nintendo

NFTs have been a hot topic lately, with the latest drama being Team17’s announcement (and then cancellation) of its own line of non-fungible tokens.

During the question-and-answer session that followed Nintendo’s latest financial results, one of the questions was on the topic of NFTs and the “metaverse.”

Analyst David Gibson, who was present, reported that Nintendo’s response was not an immediate one, and that his main point of interest would be the metaverse (thanks, VGC):

To be clear, the answer focused primarily on the metaverse, not NFTs – David Gibson (@gibbogame) Feb 3, 2022

It’s not a particularly surprising response – after all, Nintendo is in the business of making money and would be legitimately interested in any new technology that enables it – but the company is clearly taking a cautious approach to both concepts.

The “metaverse” is best described as a network of 3D virtual worlds focused on social connection, and the term — coined by Neil Stephenson in his 1992 novel Snow Crash — has become something of a buzz lately thanks to companies like Facebook. While the idea of ​​a “metaverse” is something that is seen as a social tool, many companies are clearly looking at ways they can monetize using this concept, and Nintendo appears to be no different.

Regarding NFTs, the public response has been very scathing. Along with Team17, which arguably harmed its brand with aborted NFT plans, voice actor Troy Baker pulled out of a deal that would have seen audio samples minted as NFTs, after an overwhelming backlash online.

Companies like Konami, Square Enix, Sega, and EA have all shown an interest in NFTs recently, although Sega has stated that it won’t pursue the idea if its fans are against them. However, Ubisoft said fans do not currently understand the benefits of NFTs.

If you are still confused about NFTs, feel free to check out the feature you are trying to explain.

An official transcript and translation of the Q&A call will likely be released in the coming days. Elsewhere during the call, Furukawa reiterated that the Switch was “in the middle of its lifecycle” as the console overtook both the Wii and PlayStation to become the fifth best-selling video game console of all time.

This story has been updated to reflect David Gibson’s illustration.

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