Sony Could Predict The Value Of Your NFTs In Near Future Using AI
Story Highlights
- Sony has recently published a patent that discusses predicting the values of NFTs automatically using AI.
- The system could be imposed to ensure inexperienced players can understand the potential worth of an NFT.
- The predicted worth of an NFT could be altered by various variables, including its rarity, social worth, number of uses if its limited time, number of shares, and the like.
- In-game events, like the difficulty of a newly earned achievement, could also affect the predicted value of an NFT.
Sony has recently published a new patent that revolves around the latest blockchain technology, the NFTs. The discussed method will predict the value of NFTs for players using the power of AI tech. The non-fungible tokens are currently the bane of the gaming industry, and the tech giant is investigating to integrate them into future projects. Hence, the newly proposed system could make the NFTs more accessible to inexperienced users.
The patent dubbed “TECHNIQUES FOR PREDICTING VALUE OF NFTS” explores introducing a system for Sony games that can automatically calculate the possible worth of NFTs to ensure newbies do not end up being scammed or confused. Sony is seeking to possibly offer and include NFTs with its games. The new patent will also generate a predicted value of the digital file by applying trained machine learning models.
A non-fungible token (NFT) associated with a computer game asset can be offered to a player or spectator of a computer game along with a predicted value of the asset generated by a machine learning (ML) model,” is how Sony defines NFTs.
Sony notes that a gamer might be offered an NFT related to gaming, but that person may not have the expertise or experience to figure out its value. The patent seeks to solve the dilemma by introducing a method to predict values using trained machine learning models.
The system could show the predicted merit of the NFTs in a UI window, and multiple worths of an NFT could be included for the user to better gauge its worth. The company also discusses unveiling the amount of bid won and the amount of the underbid for a respective NFT for the player. The patent dives deeply into the technical aspects of the machine learning models and includes a lot of the usual limbo.
If an NFT is permitted to use only a limited number of times, then its significance could keep increasing until all the uses have been exhausted. After the total uses have been exhausted, then its value could suffer a major decrease. Moreover, the predicted worth could also be affected by whether it can be replicated easily. The harder it is to recreate an NFT, the larger its value will be calculated by the proposed system.
The predictable worth of the NFT could also be altered by whether it’s fungible or not. The social worth of the NFT in a gaming community could also amplify or hamper its value in the long run, as players may value a certain type of NFT more than others. The number of times an asset underlying an NFT was watched or shared by the players in a game could also dictate its predicted value.
Furthermore, in-game events could also alter the value of NFTs in Sony games, as noted by the newly published legal document. The patent uses an example of achievements to clarify in detail.
If an NFT is minted based on an achievement such winning a tournament or other computer simulation achievement, the difficulty of achievement can impact value of the NFT […] The value of an NFT may be keyed to group achievement,” elaborated the patent.
Sony is among the leading figures in the gaming industry to jumpstart the trend of NFTs in video games, and we can only expect its influence to come to fruition eventually in the near future. Recently, the giant conglomerate published a patent saying how it wants to rent its NFTs for a limited time to players in its games. The new patent goes hand in hand with some of its earlier legal documents, which discuss integrating NFTs in various forms.
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