Here’s Why GTA-6 May Revive its Metaverse Plans

Grand Theft Auto 6 (GTA 6) is one of the most anticipated games in the foreseeable future. There have been a lot of rumors about the title, with many saying that GTA 6 will have a metaverse and cryptocurrency. However, there were doubts about the development, after the studio banned using crypto assets and NFTs last November. Moreover, Mojang Studios’ Minecraft stopped the use of NFTs in July 2022. The gaming studios’ view of digital assets and metaverse may change.

Three blockchain gaming executives claim that while some mainstream game developers have moved backward in adopting blockchain technology, it’s only a matter of time before they alter their minds. This begs the question if GTA 6 will move ahead with its metaverse plans.

Will GTA 6 have a metaverse and cryptocurrency?

According to Walter Lee, gaming growth lead at BNB Chain, the prohibition is more related to NFTs than blockchain technology. He believes mainstream studios would embrace the technology once more regulation is in place to ensure player safety. He mentioned that people do not fully understand Web3. Moreover, the space lacks proper regulation. As a result, several users and businesses are dubious about the advantages and frauds that are frequently associated with it. According to Mojang Studios, wash trading, ownership issues, and rug pulls were some of the reasons the studio banned NFTs.

The executive director of Wagyu Games, Grant Haseley, claimed that the reason for the resistance to adoption is their concern that it will undermine the current economic model of “the customer strictly paying for entertainment.” According to Justin Hulog, chief studio officer at Immutable Games Studio, the most successful entertainment product of all time is GTA V. Additionally, a sizable amount of these earnings come from in-game currency microtransactions.

He continued by saying that Microsoft has previously integrated micro-transactions into Minecraft. It makes financial sense for both firms to want to maintain control over their in-game economies. Therefore, GTA 6’s metaverse plans could happen, given there is more regulation in the space, and that there is significant public demand.