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Can this partnership salvage Ubisoft from its recent crisis?

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Gaming giant Ubisoft has announced a collaboration with Aleph.im, a cross-chain decentralized storage solution, to onboard decentralized storage for its dynamic NFTs on its new blockchain-powered platform Ubisoft Quartz. On 21st December 2021, Aleph.im posted via Twitter that it would join hands with the gaming entity to provide a decentralized storage solution for Ubisoft Quartz in order to further incorporate nonfungible tokens [NFTs] into Ubisoft’s AAA games.

Through the partnership, players would be able to acquire dynamic NFTs called Digits on Quartz that can be utilized in Ubisoft’s Ghost Recon: Breakpoint. Both the parties claim that the partnership would ‘challenge traditionally static NFTs and enable the creation of dynamic NFTs with metadata that evolves as they transfer from player to player.’

Further, the blog noted,

“Aleph.im’s technology enables players to see the names and achievements of previous item owners, as well as item descriptions and videos. The advantages of aleph.im’s system includes securely storing the NFT metadata on a fully decentralized storage network of over 70 nodes, allowing all NFT ownership to be tracked on the Tezos blockchain.  For the first time in a mainstream video game, players will be able to claim playable NFTs that represent in-game assets such as weapons, equipment, and more.”

Ubisoft’s ongoing troubles

Earlier on December 7, 2021, Ubisoft launched its NFT platform and began offering tokens for its Ghost Recon franchise. Didier Genevois, Technical Director, stated in a recent interview that the firm will continue its plans to work with NFTs despite the backlash from the gaming community. Ubisoft’s Quartz announcement was received with negative reactions as a trailer amassed 95% dislikes on YouTube on Dec. 8. Many speculated the energy cost of crypto mining as the reason for the backlash. That being said, others perceived it to be a cash grab.

Its trouble does not end here. The gaming platform is currently facing a severe talent crunch as many of its employees tendered resignations owing to low pay and alleged misconduct. Despite the crisis, the gaming entity does not seem to have plans to abandon its blockchain ambitions and the recent announcement is a testimony to it.

Tezos [XTZ] soars by 68% in 4 days following high profile partnership

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Tezos’s [XTZ] price skyrocketed by more than 68% in a short span of time after the last week’s flash crash that saw major crypto assets capitulating under intense sell pressure. Tezos started the week on a fairly quiet note rising by a modest 10% on 7th December which dramatically changed when the smart-contract platform’s token jumped by 16% in a span of just 15 minutes on massively higher trading volume.

At the time of writing, the asset was changing hands at $5.49 surging by more than an impressive 27% in the last 24 hours. Its market cap was found to be at $4.77 billion. The native token’s 24-hour trading volume stood at $1.52 billion. Let’s delve deeper into the price technicals.

Tezos [XTZ] 1-day price chart analysis

XTZUSDT 2021 12 08 14 47 53

From the above daily chart, the diverging Bollinger Bands [BB] indicator is depicting the possibility of price volatility in the coin market. With respect to the trading aspect, the Relative Strength Index [RSI] climbing just above the half-line is projecting buyers struggle to gain control amidst a minor price pullback Further, the candles flipping to the green of the Awesome Oscillator [AO] is gearing towards a much-needed switch to bullish price movement in the asset market.

Reason behind Tezos’ incredible price recovery

The native token’s overall optimistic outlook is attributed due to the recent announcement of a high-profile collaboration with French video game giant Ubisoft. The gaming entity launched Ubisoft Quartz, a platform where users can purchase unique NFTs called Digits, that can be used in-game and most importantly incorporated on the Tezos blockchain. Further, the press release revealed that the beta version for Ubisoft Quartz is scheduled to launch on December 9, this year.

The Blockchain gaming sector has emerged as one of the sought-after crypto spaces in recent times and the latest partnership with one of the largest video gaming firms in the world could impact the Tezos ecosystem tremendously.