Square Enix, the Japanese publisher of the Final Fantasy game series, has announced its intentions to continue investing in blockchain-based games and NFT technology.
The company’s president, Yosuke Matsuda, stated that Square Enix is committed to Web3 technology. This push towards Web3 began in February of last year when the company partnered with
The Sandbox is bringing Dungeon Siege to the metaverse. In May of the same year, Square Enix sold its Western branch and related intellectual property rights to Embracer Group for $300 million to focus on developing blockchain games.
These plans for the future were unveiled by Square Enix as part of their expectations for 2023.
Yosuke Matsuda, president of Square Enix, endorsed the notion of adopting blockchain technology into new Square Enix games last year, but the corporation faced opposition to this declaration.
Despite the controversy, the president of Square Enix has reiterated that blockchain and NFTs are a top priority for the video game industry major going forward.
Square Enix president validates Web 3.0
Matsuda revealed that Square Enix has aggressively invested in and developed its business in the blockchain entertainment sector. However, the risky investing approach increased gamers’ worries. They were concerned that they would stop making challenging video games in the best interests of “scammy” blockchain games.
Square Enix later declared that they would keep creating challenging games, nevertheless.
Square Enix’s president added:
“Based on my observations, I think it’s fair to say that the blockchain industry gained significant attention in 2022, as evidenced by the widespread use of the term “Web 3.0” among businesses. Meanwhile, the year has also seen a fluctuation in the NFT (non-fungible token) and cryptocurrency marketplaces, which followed the significant changes in the detailed above”.
The President asserts that Square Enix will keep funding blockchain projects. In a letter for the new year, he wrote:
“The Medium-Term Economical System that we launched in May 2020 accepts blockchain games, artificial intelligence, and the cloud as new categories. As a result, we have been aggressive in our research and development activities and investments within these areas”.
Yosuke Matsuda has provided additional details regarding blockchain integration in upcoming game releases. A token economy would support ideas like “Play-to-Earn” in this gaming scene.
Square Enix to Expand its NFT sports packages in 2023
Early in 2019, the author of an online game first mentioned a few interests in the blockchain. Square Enix has since taken several initiatives centered around non-fungible tokens and the metaverse.
Square Enix successfully oversaw a $2 million crowdfunding round to support the metaverse game and Sandbox at the start of 2020. The company joined the metaverse a short while later, and in 2021 they started to launch digital stickers.
A web-based, Ethereum NFT-powered game called Symbiogenesis was released by the Final Fantasy firm in November 2022. In the NFT game, users can trade and purchase virtual products in the metaverse and these will make more packages available for collection in 2023.
About Square Enix
Square Enix is a Japanese video game and entertainment company, best known for its role-playing games such as the Final Fantasy and Dragon Quest franchises. The company was formed in 2003 through the merger of Square and Enix. The company has its headquarters in Tokyo and has satellite offices in various locations globally. Square Enix is known for its innovative and high-quality gaming experiences and has a dedicated fan base around the world
Square Enix’s decision to invest in blockchain-based games and NFT technology is best for the gaming organization, this will bring in more users that love cryptocurrency and NFTs, Web3 and Metaverse alike. This will also help users experience fun, learning, and getting experience as they venture into them.
Ken Emmanuel is a Blockchain Content writer, a Web3 Enthusiast and a Social Media Management Strategist, he likes writing educative contents to help people gain more knowledge and get inspired. The growth of any organization he work with is always his priority. He is a Geographer by profession and loves reading.