Electronic Arts is having second thoughts about NFTs

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Simply three months after describing NFTs and the blockchain as “the future of our industry,” Digital Arts appears to be easing up a bit. In an traders name following its Q3 2022 earnings report, CEO Andrew Wilson advised that the long run will not be as clean-cut as he thought, saying that the corporate isn’t “driving laborious” on them.

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Wilson in contrast NFTs to different applied sciences which have pushed exterior investments into the business, similar to 3D and VR, and stated that “collectibility,” constructed on 4 key metrics—high quality, shortage, authenticity, and perceived worth—has been an vital a part of the enterprise for years—lengthy earlier than NFTs got here alongside. That is not one thing he expects to vary, though the character of collectibles nearly definitely will. (And, make no mistake, already has.) However how, precisely, isn’t so clear.

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