Ubisoft, the renowned creator of successful gaming franchises like Assassin’s Creed and Far Cry, has become a node validator on the XPLA blockchain. This move demonstrates Ubisoft’s ongoing interest in Web3, blockchain, and cryptocurrency services, expanding its involvement beyond validation duties as part of its Strategic Innovation Lab.
The partnership with XPLA will see Ubisoft actively participating in the decision-making process for governance proposals, as stated in a press release from XPLA. XPLA is an open-source blockchain built on the Tendermint framework, designed to facilitate the transition from Web2 to Web3 gaming. Its mainnet was launched in August 2022, aiming to empower players through a “play to own” gaming model. Some of the popular games available on the XPLA blockchain include The Walking Dead: All-Stars and Summoners War: Chronicles.
For Ubisoft, this collaboration represents a significant milestone in the growth of the network. Ubisoft, headquartered in Rennes, France, is one of the largest gaming companies globally, with a track record of award-winning games and a combined total of approximately 800 million titles sold. With a market capitalization of $2.75 billion, it is the second-largest gaming company in Europe, trailing only Poland’s CD Projekt Red ($2.99 billion).
Ubisoft has been an early advocate of Web3 and blockchain technology, evident from its publication of a manifesto in 2021 outlining its plans in these spaces, emphasizing player agency and ownership. Additionally, Ubisoft has made substantial investments in the blockchain gaming industry, including being a major investor in Animoca Brands, a Hong Kong-based blockchain games developer.
As the Web3 space continues to evolve, blockchain gaming is gaining popularity. While it has yet to fully deliver on its promises of decentralizing gaming assets and revolutionizing the perception of nonfungible tokens (NFTs) on a large scale, the participation of major gaming companies like Ubisoft and Square Enix is a positive sign for the sector.
Related: Square Enix plans to restructure its organization in 2024 to support blockchain, Web3, and AI initiatives.