Ubisoft is making drastic business decisions to reduce spending and overall risks. Now is a great time to eliminate one of the riskiest moves in gaming right now: NFTs and blockchain.
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Ubisoft was the first mainstream publisher to embrace Quartz NFTs. The risk-to-reward ratio simply wasn’t favorable. Quartz was a significant failure insofar as sales revenues and also damaged Ubisoft’s reputation in the process. This is a mistake that probably should not be continued even in the best of times, but that goes double for the current inflation-laden games industry environment.
Publishers are currently being challenged by an uncertain global economy. Consumers are spending less on games; according to Newzoo, overall industry-wide spend was down over $8 billion in 2022. Ubisoft plans to battle these conditions by reducing risk and spending, and has laid out a business strategy to investors.
The plan, which led to a crash in Ubisoft shares, includes the cancellation of 3 games, delaying Skull and Bones, and a €500 million loss in non-IFRS operating income for…
