GTA 6 has been rumored to introduce cryptocurrency for 2 years, why won't it incorporate Web3?

By | Ana Paula Pereira, Kate Irwin

Compile | PANews

Over the weekend, a popular rumor circulated in the crypto community that the well-known action-adventure game series "Grand Theft Auto" (GTA) may be in its upcoming game upgrade version "Grand Theft Auto 6" (GTA 6) The introduction of cryptocurrency rewards in the game, which is expected to be released in 2023 or 2024, plans to integrate blockchain technology to implement a cryptocurrency-based reward system, and may use Bitcoin as the payment method and reward code for this game. currency.

The well-known action-adventure game series "Grand Theft Auto" (GTA) may introduce cryptocurrency rewards in its upcoming game upgrade "Grand Theft Auto 6" (GTA 6), which is expected to be released in 2023 or 2024. The game intends to integrate blockchain technology to implement a cryptocurrency-based reward system, and is expected to use Bitcoin as one of the payment methods and reward tokens.

In fact, the introduction of cryptocurrency in the Grand Theft Auto game has been rumored for a long time, first appearing in 2021, and then resurfaced again in 2022. However, none of these rumors have been officially confirmed by the game's developer, Rockstar Games, or its parent company, Take-Two Interactive. Let's take a look at why the popular game "Grand Theft Auto" is unlikely to jump into Web3 for the time being.

"Earn while you play" P2E is no longer seen as a valid business model

Play-to-earn (P2E) games allow users to earn cryptocurrencies by playing games, and while blockchain games have attracted players, this business model appears to be becoming unsustainable, especially with the current low price of cryptocurrencies. market environment. At the NFT.NYC conference held in April this year, many game publishers and developers stated that they have begun to look for alternative game business models to earn while playing (P2E).

According to Chase Freo, CEO of the game platform OP Games, the blockchain game giant AxieInfinity is exploring transformation in its flagship game. He also pointed out that "earning games while playing is an unsustainable model." Paul Flanagan, head of business development at CM Games, an Estonian mobile game developer, believes that earning while playing games is more like a "zero-sum game". Some games even have similarities with Ponzi schemes, although brand sponsorship may become a Viable source of income, but effectiveness in practice remains to be seen.

As far as GTA itself is concerned, the game has sold 180 million units worldwide since 2015, making it one of the most successful games of all time, according to Statista. According to Rockstar Games parent company Take-Two Interactive revenue estimates, they have generated more than $8 billion in revenue over the past 10 years through game franchises alone, GTA is a highly profitable franchise, It is risky to "follow the trend" and turn to the earning while playing mode.

Above: Global full-cycle unit sales generated by Grand Theft Auto V through May 2023. Source: Take-Two Interactive, Statista.

Rockstar Games' NFT Ban and Take-Two Interactive's Web3 Entry

In November 2022, the developer RockstarGames officially announced that it has formulated new rules for role-playing servers created by fans and developers, prohibiting third-party online servers from using NFT, and developers cannot integrate encrypted assets such as cryptocurrencies or NFT. Rockstar Games emphasized that despite the new restriction rules, it will still provide support for relevant game servers, but if it introduces or abuses other IPs in the project, it will be strictly prohibited, including other IPs of Rockstar, real brands, characters, trademarks or Music, making new games, stories, quests or maps, etc.

There is no doubt that Rockstart Games' ban is a major setback for players looking to use NFTs in gaming franchises.

But on the other hand, Take-Two Interactive, the parent company of RockstarGames, is actively embracing Web3. In early 2022, Take-Two Interactive acquired Zynga, a social game developer that supports NFT chain games, for $12.7 billion. The company’s CEO Strauss Strauss Zelnick said the acquisition of Zynga would address new "Web 3.0 opportunities, enabling Take-Two Interactive to solve problems more effectively than either company could do alone."

Summarize

Frankly speaking, game giants have different attitudes on the issue of cryptocurrencies. Although RockstarGames is relatively indifferent to cryptocurrencies, other traditional game giants seem to be very willing to embrace this emerging thing. Here are a few examples:

• Square Enix, a game developer with game IP such as "Final Fantasy" and "Dragon Quest", has announced the launch of NFT games on the Polygon blockchain. Its president also promised to stick to the blockchain investment strategy and invested in the blockchain The game development company gumi and the chain game association YGGJapan.
• Andrew Wilson, CEO of Electronic Arts (EA), one of the world's largest game developers, also called NFT "an important part of the future of the game industry" in the quarterly financial report meeting.

As of now, Rockstar Games has not issued an official statement on adding encrypted assets to the "Grand Theft Auto 6" game, but it has not denied the rumors in the market. Perhaps, the answer will only be known when the game is officially released in 2024.