The Tezos price soars after Ubisoft revealed a new NFT launch on its network which prompted XTZ to reach $5.48 as of yesterday so let’s take a closer look at today’s Tezos news.
Markets are reacting in favor of the announcement that Ubisoft will become the first video game publisher that will create in-game NFTs. The shares of the company were trading 4% higher today but since Tezos is the main blockchain partner of Ubisoft, is actually the real winner. The price of Tezos’ native XTZ coin spiked on the news and increased by 37% in the past day. It traded as high as $5.48 after dropping below the $4 price point on Monday.
Ubisoft is the maker of the popular games Assassin Creed and Prince of Persia. It recently announced that its Ubisoft Quartz platform will enable players to buy and win in-game items which are minted as Tezos NFTs with the digital tokens representing ownership of the asset. The NFTs will make their first appearance in the Tom Clancy Ghost Recon Breakpoint. The integration of NFTs will increase the feeling of investment players have in the game while they are preparing the groundwork for interoperability between the secondary markets and games to profit off rare items.
Tezos’s coin price could be further abetted by the announcement later made contending that the blockchain increased its transaction energy efficiency by 70% and it will cost less to send and receive XTZ or make other transactions on the network like buying NFTs that it did in the past. This should take some of the criticism out from the gamer circles that the NFTs are bad for the environment because they demand huge and unnecessary production of electricity to generate but the cultural value of video games is still up for debate.
The Tezos price soars on the news as both companies sought to head these arguments off at the pass and swamped the press releases with distinctions between proof of stake blockchain and energy-dependent blockchains, arguing that the transactions on the former take up 2 million times less energy than the one of Bitcoin for example.
If you are interested in the real-time value of Tezos’s XTZ coin, you may want to check out Tezos price calculator on our website!
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