Sony files patent for Bitcoin wagering on PlayStation

PlayStation

Game on! Electronics giant Sony has revealed a patent that would introduce Bitcoin wagering on its consumer electronics products, including the PlayStation line of gaming consoles.

Spectators of a game could wager about what will happen next in an e-sport competition, and odds would be calculated by a machine algorithm that will taking into account rankings and previous match history.

The patent, filed back in 2019, is for gambling or wagering in e-sports competitions, with Bitcoin as a usable currency. The machine algorithm calculates the odds of every bet based on the abilities of the player.

As mentioned in the filing:

“Wagers may be pecuniary, e.g., money or bitcoin, or may be non-pecuniary, e.g., game assets, digital rights, and virtual currency.”

Furthermore, the filing implies that the system would also let users bet in-game currency or assets, or even NFTs.

This system might be run in a slew of consumer electronic devices, including the company’s crown jewel, the PlayStation. But it also includes other systems like consoles made by Microsoft and Nintendo, VR based entertainment systems, and even personal computers.

All these suggest that the patent has a big scope of implementation.

If implemented, this could be another stream of revenue for Sony and the organizations that host e-sports competitions. These have gained immense popularity during the past couple of years, particularly during the pandemic, and these tournaments are followed by millions of people worldwide.

As a matter of fact, Sony acquired the Evolution Championship Series earlier this year, which is one of the biggest e-sports competitions around. Could well be a coordinated plan to test the system in a comfortable way, this.

And if only a tiny fraction of this market uses this system, it has the potential to transform into a form of revenue for the future.


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