Electronic Arts is having second thoughts about NFTs

Just three months after describing NFTs and the blockchain as “the future of our industry,” Electronic Arts seems to be easing up a bit. In an investors call following its Q3 2022 earnings report, CEO Andrew Wilson suggested that the future may not be as clean-cut as he thought, saying that the company is not “driving hard” on them.

Wilson compared NFTs to other technologies that have driven external investments into the industry, such as 3D and VR, and said that “collectibility,” built on four key metrics—quality, scarcity, authenticity, and perceived value—has been an important part of the business for years—long before NFTs came along. That’s not something he expects to change, although the nature of collectibles almost certainly will. (And, make no mistake, already has.) But how, exactly, is not so clear.

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