After the morning announcement that Ubisoft will become the first major video game publisher to create in-game NFTs, markets are reacting positively with the price skyrocketing.
Tezos native coin XTZ hiked 27% in the last 24 hours following the news.
Besides the XTZ price hike, the shares of the French company are also trading 4% higher after the news.
What is Ubisoft?
For those who do not know, Ubisoft is a French-based company and it is the maker of the Prince of Persia and Assassin’s Creed video games.
Ubisoft is one of the first major video game developers to be interested in the blockchain space. It started with crypto game prototypes and it is now looking forward to implementing NFTs within one of its major franchises, the Ubisoft Quartz platform, in a new initiative that runs on Tezos.
Ubisoft Quartz platform
Ubisoft announced its new Ubisoft Quartz platform that will enable players to buy and win in-game items that are minted as Tezos NFTs, this NFTs are the digital tokens that will be representing the ownership of the asset.
These non-fungible tokens will be making their first appearance in Tom Glancy’s Ghost Recon Breakpoint.
The integration of NFTs could increase the feeling of investment players have in games while laying the groundwork for interoperability between games and secondary markets to profit off of rare items.
The integration of the NFTs will lead to an investment of players in the game and it will in return lay the groundwork for interoperability between games and the markets
Besides the morning news, the XTZ price hike is also being propelled by the blockchain increasing its per-transaction energy efficiency by over 70%; something that has reduced the cost of sending and receiving XTZ tokens or even making other transactions on the network.
Tezos and Ubisoft are looking for ways to end arguments that NFTs are bad making it clear in the press release with distinctions between proof-of-stake blockchains and Bitcoin, arguing that transaction on the Bitcoin uses more than 2 million times more energy than on Tezos
The post Tezos (XTZ) price rallies after the revelation of Ubisoft launching NFTs on Tezos network appeared first on Coin Journal.
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