Smart Contract Altcoin Posts Massive Gains Following Announcement of Partnership With Gaming Development Firm
One under-the-radar altcoin is on fire after helping to bring in-game non-fungible tokens (NFTs) to the mainstream gaming industry.
Blockchain network Tezos (XTZ) announced that game designer Ubisoft’s new Quartz feature was built using its native technology to enhance gameplay while remaining energy efficient.
In-game #NFTs are here, and they are built on #Tezos.@ubisoft has chosen to build Ubisoft Quartz on the scalable and energy-efficient @Tezos blockchain.
Find out more about the first major gaming company to launch in-game NFTs:https://t.co/UH8JMAFz7l pic.twitter.com/4mhRpN51xf
— Tezos (@tezos) December 7, 2021
Quartz enables players to both earn and buy in-game items, and Tezos says it’s the first time a major gaming company has incorporated tokenized NFTs for that purpose.
News of the partnership sent the price of XTZ skyrocketing almost instantly from $4.19 to $5.42 on Tuesday, later peaking at $5.81 before seeing some choppy action the rest of the day.
The altcoin is experiencing another power surge at time of writing, up 7.62% on the day to $5.87.
Game industry stalwart Ubisoft is known for some of the most successful titles over the past decade, including installments of the Far Cry, Assassin’s Creed, and Tom Clancy series.
In a tweet to its 8.6 million followers, Ubisoft says that users will be able to test a beta version of Quartz in its Ghost Recon: Breakpoint game.
“We’re bringing the first energy-efficient NFTs playable in a AAA game to Ghost Recon: Breakpoint!
Try it in the beta from December 9 with three free cosmetic drops…”
Triple-A refers to mid-size and major game publishers which have large budgets to develop and promote their releases.
According to the Tezos website, the project sees both design and governance as keys to long-term success.
“Tezos is an open-source platform that addresses key barriers facing blockchain adoption for assets and applications backed by a global community of validators, researchers, and builders.
By design, Tezos embraces long-term upgradability, open participation, collaboration, and smart contract safety.”
The price of XTZ had been steadily creeping down from a high above $9 back in October, bottoming out at $3.73 on Monday before its recent sudden rise.
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