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Sony breathes new life into acquired digital asset exchange

Sony breathes new life into acquired digital asset exchange
30-07-2024


Blockchain and gaming are becoming increasingly intertwined. Major gaming companies have become involved in digital assets such as NFTs and cryptocurrencies, integrating them into gameplay and marketplaces.

Sony, the creator of PlayStation, took a bold step last year when it acquired Whalefin, a digital asset exchange, from crypto lender Amber Group. The idea of a game manufacturer owning a crypto exchange was quite unique, but for about a year, the exchange remained unused.

Now, Sony is working to revive the exchange and reportedly plans to launch a new app for this purpose. Many crypto exchanges see significant traffic through in-app trading, so this could be a profitable project for Sony.

Some of its previous efforts to enter the web3 space include a partnership with Aster Network and several patents that indicate interest in NFTs. NFTs have not yet fully blossomed, but given the fact that Whalefin is back in development after a year, all hope is not lost.

It would certainly be a new approach compared to what gaming fans are used to. There has been some controversy surrounding the inclusion of crypto tokens and NFTs in mainstream games, but how would fans react to a crypto exchange backed by Sony and other game companies?
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