Rumors suggesting that Grand Theft Auto VI will incorporate cryptocurrency pop up from time to time, fueling expectations that the highly anticipated game could incorporate digital assets as player rewards, non-fungible tokens (NFTs) as in-game assets, or even as part of the humor of the story.
The latest speculations in the crypto community arose last week on Twitter, but so far, there’s no indication that Rockstar Games, publisher of the Grand Theft Auto franchise, plans to jump to Web3. Cointelegraph analyzed the latest rumors and facts about the possibility of an upcoming “GTA Crypto”.
Play-to-earn is no longer considered an effective business model
Play-to-earn (P2E) games allow users to earn cryptocurrency while playing the game. The business model, however, has been deemed unsustainable, despite the enthusiasm for blockchain-based gaming.
During the NFT.NYC convention held in April, game publishers and developers highlighted that the industry is exploring alternatives to replace the P2E business model amid falling cryptocurrency prices.
“It’s a model that’s not sustainable at all,” Chase Freo, CEO of gaming platform OP Games, said during a panel at the event, citing Axie Infinity’s shift to some of its flagship titles as an example.
During the panel, Paul Flanagan, Head of Business Development at CM Games, an Estonian mobile game developer, expressed his views on the core problem of P2E models. He described them as “zero-sum” and noted their resemblance to Ponzi schemes. Flanagan mentioned that while brand sponsorship could be a viable source of revenue, its effectiveness in practice remains to be proven.
According to Statista, Grand Theft Auto V has sold more than 180 million units worldwide since 2015, making it one of the most successful video game titles ever released. Based on revenue estimates from Rockstar’s parent company, Take-Two Interactive, the franchise It has generated more than USD 8,000 million in the last decade. Given these numbers, Grand Theft Auto has been a profitable title to date. Switching to a P2E model would be a risky move for Rockstar.
Rockstar banned NFTs
In November 2022, Rockstar updated their website to make it clear that fan-operated Grand Theft Auto V servers could no longer use crypto assets, specifically NFTs.
A fan-run server allows you to modify a PC game and interact between players. In the case of Grand Theft Auto, some servers implemented NFTs to give players ownership of in-game assets such as cars and weapons. Rockstar’s ban was a setback for fans who had been hoping to see the arrival of NFTs in the franchise.
Effective Immediately: pic.twitter.com/CxPIHLaytt
—OTF Gaming (@OTFgaming) November 20, 2022
Lastly, the franchise is known for its humorous style. Many cryptocurrency enthusiasts believe that the next Grand Theft Auto could include crypto elements in its narrative, justifying years of rumors about the game’s potential crypto focus.
Cointelegraph reached out to Rockstar regarding the rumors, but did not receive an immediate response. At the moment, the company has not denied or confirmed the possibility that GTA VI includes cryptocurrency rewards. The title is expected to go on sale sometime in 2024.
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