Sony Unveils NFT Trading Patent for PlayStation – NFT Plazas

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Sony has revealed a new patent filing that will allow PlayStation gamers to trade NFTs across different platforms. Prior to the arrival of non-fungible tokens, this wasn’t possible due to technological limitations. However, Sony believes it has figured out a way to seamlessly trade in game assets across the different 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. Additionally, the marketplace will also allow the renting of in-game assets between players.

Dubbed “NFT Framework For Transferring And Using Digital Assets Between Game Platforms,” the patent describes a “system and method for tracking digital assets associated with video games.” These could represent in-game items, characters or skins. Furthermore, players will also have the opportunity to record special game plays and monetize them as NFTs. All this data will be stored on a publicly available distributed ledger, making ownership transparent and trackable.

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The Many Gaming Patents Sony Files

The patent signifies Sony’s growing affection for NFTs and distributed ledger technology. Gaming is one of the main industries that is experiencing a revolution thanks to blockchain technology. NFTs, in particular, are playing a huge role by allowing for the monetization of in-game assets.

By filing a patent of this nature, Sony hopes to block competitors from copying its ideas, while also giving the company a license to keep innovating without incurring royalties. However, it doesn’t conclusively mean the company will implement the technology any time soon. For instance, Sony’s gaming-related research and development arm files almost a thousand patents annually. For the past 3 months of this year alone, the company has been awarded 170 patents, according to the USPTO database.

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