Sony Unveils NFT Trading Patent for PlayStation

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.

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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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the globe.