Ubisoft's NFT Gamble: 3 Reasons Why It's Doomed From the Start

Ubisoft, bless their corporate souls, just can’t figure it out. A decade of fabulous NFT flops have given us some all-time classic memes. Now, they’re preparing for the next one. This go around, we’re looking into “Might & Magic Fates,” a trading card game (TCG) steeped vapidly in blockchain hype. It joins forces with Immutable, a multibillion-dollar company hell-bent on trying to convince gamers that NFTs are surely the path forward.

This isn’t creative small ball, this is a dangerous, reckless lunge toward a revenue stream that just is not going to materialize. And here’s why this NFT bet won’t pay out at launch.

Same Mistakes, Repeated Again?

Let's talk about history. Ubisoft’s prior forays into the NFT space, such as Quartz and Digits, generated almost no interest and backlash. Instead, they got the kind of localized backlash usually reserved for root canals. Player abandonment rates were through the roof. The negative press was relentless. The transaction volumes? Anemic. We're not talking about a slight dip in player interest; we're talking about complete and utter obliteration.

It's like watching someone repeatedly try to jump across the Grand Canyon on a pogo stick, convinced that this time, they'll make it. The data is screaming: Gamers don't want this. Ubisoft's own track record proves it. Are they really this tone deaf, or is there more than meets the eye? Are they just wishing to dump this burden on to others?

Fun or Financial Instrument First?

The real issue with NFT gaming isn’t the tech — it’s the priorities. Like all classic games, they are centered on enjoyable and riveting gameplay, with arresting and inspiring narratives. Whether an indie studio or a AAA powerhouse, the hope is always to create something that players will want to spend their time — and money — playing. By contrast, NFT games frequently come off as having been built to be financial instruments before they were ever games. The "optional Web3 layer" Ubisoft is touting for "Might & Magic Fates" is a clear attempt to mask the core issue: this game is about owning digital assets, not about enjoying the Might & Magic universe.

Think about it. It’s true that a trading card game is already a productive activity. People collect cards. They trade them. They build decks. NFTs don’t improve the basic gameplay loop in any substantive way. Rather, it brings artificial scarcity, speculation, and a slew of environmental issues. You’re not improving the integrity of the game, you’re just further complicating the game and creating another avenue for exploitation.

Look at the big picture. Cross-industry challenges Conventional gaming business models have been built around the player engagement principle and live content delivery. Fortnite, League of Legends, and World of Warcraft each gross well over 1 billion dollars. They do this, in part, by giving players compelling reasons to come back day after day after day. NFT games, in stark contrast, frequently build around market speculation and short-term hype. Soon after the hype dies down, the player base dies off, and the value of the NFTs crash. It's a boom-and-bust cycle that's inherently unsustainable.

Environmental Cost, Minimal Benefit?

Let's not forget the elephant in the room: the environmental impact of blockchain technology. Because even though Immutable is “carbon neutral,” no matter how many offsets they buy, the tech itself is still draining a whole lot of energy. So is a minor, debatable update to a niche hobby gaming format worth chewing up so many trees just to enforce? Particularly when the player experience benefits are absolutely zero?

Consider the development costs involved. Creating and implementing blockchain technology is not a low-cost undertaking. It’s a monumental task and one that demands specialized expertise, continued maintenance, and constant vigilance against security threats. That money could be better spent on improving the core gameplay, creating compelling art, or expanding the Might & Magic universe in meaningful ways. Instead, it’s being funneled into a technology that is driving away a huge section of the gaming audience.

The unfortunate reality is that Ubisoft is pursuing a ghost. They're so focused on the potential of NFTs that they're ignoring the reality of the market. The data is clear. The community has spoken. Whichever way you cut it, this NFT gamble is a losing proposition and just a matter of time before it implodes. It’s a pity that the Might & Magic franchise needs to be pulled down with it. Maybe just take a cue from Beyond Go woke, make the first move and unplug, Ubisoft. The future of gaming isn't NFTs. It's good games.