Nintendo’s Potential In The Metaverse

【TR; DR】

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One of the oldest multinational gaming and toy companies in the world, Nintendo, has publicly revealed their curiosity surrounding their potential within the metaverse. As various companies across the globe begin to tap into the untold potential of Web3 and the metaverse, various flourishing ecosystems have been reported to be amidst development, with the architectural drawings of others underway.

As one of the most prolific and well-loved gaming companies in the world, Nintendo has amassed fans and followers from every age demographic, having previously solidified their pop cultural prowess with unparalleled games such as the Super Mario Bros. and Animal Crossing series respectively. Long have Nintendo captivated their global following with their interactive consoles and immersive games, yet following a recent announcement by the current standing president, Shuntaro Furukawa, Nintendo may be able to capture the attention of their fans in their very own Metaverse.


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Furukawa’s Verdict

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Now that Meta (formerly Facebook) has unveiled their revolutionary vision, the concept of the metaverse has become a source of hot discussion in recent months, as several industry leading businesses have hopped on the bandwagon and began formulating their own metaverse plans. Unsurprisingly, considering the parallels drawn between Nintendo’s Animal Crossing and the simulation-like environment of the metaverse, discourse has been held online in regards to the prospective development of a Nintendo metaverse.

Addressing the speculation, Shuntaro Furukawa revealed in an investors Q&A earlier this month that the metaverse has ‘great potential’ lying in its future. Furthering the former, in the official English tran_script_, it was revealed that Furukawa also stated: ‘In addition, when the metaverse is mentioned in the media, software such as Animal Crossing is sometimes cited as an example, and in this sense, we are interested in it.’

Known to not chase trends, it is likely that Furukawa’s statement is a preliminary commentary on Nintendo’s potential involvement with the metaverse, perhaps as other companies test the waters prior. ‘It is not easy to define what kind of surprise and fun the metaverse can provide to customers,’ Furukawa said. ‘As a company that proposes entertainment, we have to think about how to provide fresh surprises and fun.’. In his response, Furukawa alluded to the potential of the metaverse, yet also emphasised an uncertainty as to what this innovative technology beholds in the future.

Whilst no official formulation or development has begun, Furukawa’s officially consolidated interest in the metaverse may signal innovative upcoming developments within Nintendo’s infrastructure, which may open the doors for the development of an exclusive Nintendo metaverse. Whether this metaverse will act as an immersive extension of games such as Animal Crossing or Miitopia, one thing remains clear - a new metaverse may soon be underway.

What Can The Metaverse Do?

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Essentially, the concept of the metaverse denotes the immersive, futuristic vision for the internet, where users can socialise, play, and work alongside one another in an entirely digitised 3D space, that varies depending on the context of the situation or requirement of the users.

With early acceleration of this technology prompted by blockchain, it can be ascertained that blockchain technology will provide the foundations of the metaverse in the future. General consensus assumes that NFTs will play a vital role within the future development of the metaverse, particularly as various Ethereum and Solana based dApps and games are outlining the capabilities of this technology. For example, the Ethereum based Sandbox and Decentraland are both driving attention to the prospects of the metaverse with their digital real estate ventures that are beginning to outline the boundary breaking potential of this technology.

Yet, as with any new technology, there is always avid debate in regards to what the concept of a ‘metaverse’ actually encompasses. With many under the opinion that the metaverse should be centralised around virtual reality (VR) and augmented reality (AR) shared experiences, tapped into via headsets - others swear by NFTs cementing digital ownership as the foundations of the metaverse. The undetermined and unpolished nature of the current metaverse conceptualisations ultimately suggests that a fully fledged and polished metaverse is several years away.

What Are Other Companies Doing?

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Amidst buzzing metaverse discussion, Nintendo is far from the only technology company scoping out the space first outlined by Meta.

Earlier this year in a historic acquisition, a crucial Microsoft competitor acquired esteemed, yet controversial game developer Activision Blizzard in a deal worth $69 billion. In doing so, Microsoft coined the move as ‘building blocks for the metaverse’. This significant development within the gaming and technology industries respectively is likely to begin the integration of blockchain technology, likely NFTs, into gameplay experiences. With Activision Blizzard’s roster of games maintaining an immense global presence, these prospective developments may begin to outline the future of the metaverse, blockchain gaming technology, and global adoption.

Similarly, various traditional game publishers have also begun to endeavour within blockchain and metaverse technology. A prime example is Ubisoft, who recently unveiled their plans to integrate NFT items into their gameplay experiences, with these NFTs minted on Tezos. Similarly, Konami and Square Enix have also revealed their plans to incorporate NFT infused gameplay and NFT collectables respectively - each of which represents the beginning of increasing accessibility of blockchain technology.

Whilst these announcements appear groundbreaking from a technology standpoint, a majority of which have been met with immense backlash as analysts and stakeholders have expressed their concern in regards to the environmental consequences of NFTs. Yet, as a somewhat redeeming factor, the environmental impact varies on the blockchain utilised - perhaps spelling hope for this new era of NFT and wider blockchain integration.



Author：Matthew W-D, Gate.io Researcher
*This article represents only the views of the researcher and does not constitute any investment suggestions.
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