Zynga (ZNGA) enters NFT and crypto space with new VP of Blockchain Gaming Matt Wolf
As part of its Q3 2021 quarterly earnings reporting, Zynga announced plans to integrate NFTs and blockchain tech into its gaming ecosystem.
Mobile and browser-based gaming giant Zynga released its Q3 2021 earnings results today, and with it, the company also announced its intention to begin incorporating NFTs and blockchain tech into its ongoing game development and business. Moreover, it has brought on former D20 and Coca-Cola Company executive Matt Wolf as VP of Blockchain Gaming.
Zynga announced its intentions to explore and integrate NFTs and blockchain into its products alongside its Q3 2021 earnings results report on November 8, 2021.
“Zynga’s mission to connect the world through games makes NFTs and blockchain technology a natural next step in its evolution,” Wolf said in an accompanying statement. “Web3 token-based systems will allow us to innovate and deliver new forms of player value in our games, while also transforming how players interact with each other.”
No strangers to microtransactions, paid premium content, and in-game currencies in its mobile gaming empire, Zynga is arguably one of several gaming developers and publishers uniquely equipped to take advantage of the ongoing trend of NFTs and crypto. The company has largely invested in free-to-play games that offer purchase of in-game currencies and bonuses with real-world money to progress more quickly. With this in mind, Zynga seems more than prepared to explore further technologies and trends that would allow players to invest further into its gaming ecosystem.
Blockchain Gaming VP Matt Wolf also has a degree of expertise in this field. While he was CEO of the D20 media agency, Wolf was already pursuing marketing insights and strategies in gaming, esports, creator culture, blockchain, and NFTs. He has also served as an advisor to leading NFT platforms such as Epics Digital Collectibles and Kolex.
With the history of free-to-play and microtransaction-heavy games behind Zynga, it could be argued that it was only a matter of time before the company began dipping its toes in the NFT and crypto space. It wouldn’t be the first to announce this recently, with Electronic Arts also commenting that collectible digital content was part of its future. What form this will take for these companies remains to be seen, but it’s looking more inevitable that NFTs will become a common sight within the gaming space.
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