“Nintendo Sees ‘great Potential’ In The Metaverse,” – President Satoru Iwata

• The metaverse, according to Nintendo President Shuntaro Furukawa, has a lot of potential

• Nintendo, on the other hand, needs to think about how to approach space in a unique way, according to him.

• The metaverse is catching the attention of numerous companies all over the world, and they feel it has immense promise

After Facebook (now Meta) presented its vision in October, the metaverse became a significant buzzword, and now gaming and industry companies equally are weighing in on the future internet’s possibilities. Nintendo, a Japanese gaming and console behemoth, is the latest to say that the metaverse has a lot of promise. Nintendo President Shuntaro Furukawa recently stated that the metaverse has a lot of potential.

During an investor Q&A session this week, Furukawa addressed the metaverse. Furukawa discussed the metaverse’s possibilities, as they’ll as analogies to Nintendo’s successful Animal Crossing life simulation games, as per translations of just an official transcript issued earlier today.

The Metaverse Is Catching The Attention Of Numerous Companies All Over The World

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According to an English translation from VGC, the metaverse is catching the attention of numerous companies all over the world, and they feel it has immense promise. Furthermore, when the metaverse is referenced in the press, software like Animal Crossing is frequently used as an example, and they are interested in it in this regard.

The metaverse is a much more immersive future internet concept in which users socialize, play, and even collaborate in shared 3D places. It might be driven via blockchain technology, including NFT assets, with Ethereum-based games like Decentraland and The Sandbox—both of which sell gamers digital land plots—setting an early example.

However, there is some disagreement about what the term “metaverse” refers to. Some consider NFTs—assets that demonstrate ownership of digital items—as the most significant pillar of its design, while others see immersive shared experiences by virtual reality (VR) or augmented reality (AR) headsets as the most important pillar of its design. It’s a hazy term, in part because a fully working, polished metaverse could be years away.

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In any event, while Furukawa seemed to be optimistic about the metaverse’s potential, he also stated that Nintendo is not yet ready to begin exploring the possibilities. Nintendo, the creator of Super Mario, The Legend of Zelda, as well as other hugely popular game series, isn’t known for following trends, and Furukawa believes the company needs to figure out its own metaverse strategy.

Defining exactly what sort of surprise and delight the metaverse can bring to clients is difficult,

Furukawa added. As a corporation that provides entertainment, they must consider how to bring new surprises and enjoyment. they may be able to explore anything if they can find a method to express our ‘Nintendo approach’ to a large number of people in such an easy-to-understand manner, he continued, but they do not believe that is the case at this time.

Many traditional game publishers are going to experiment with NFT, such as Ubisoft, which has in-game NFT items minted on Tezos, Konami, which is selling NFT collectibles centered on its classic games, and Square Enix, which has revealed plans for NFT-driven games.

Many Gamers Have Reacted Negatively Accusing NFTs Of Being A Gimmick Or A Scam

However, many gamers have reacted negatively to these and other announcements, accusing NFTs of being a gimmick or a scam, or criticizing them for their environmental impact, which varies greatly depending on the blockchain platform. Following the backlash, GSC Game World withdrew plans to implement NFTs to its S.T.A.L.K.E.R. 2 game in December, and Team17 did the same with NFT collectibles based just on the Worms series just this week.