Squre Enix Set To Double Down Blockchain Game In 2023

Key Points:

• Square Enix indicates that blockchain gaming would be a significant emphasis of the company’s investing strategy in the future.
• The firm is currently working on a number of blockchain games and would be unveiling more during 2023.

Square Enix, the developer of the Final Fantasy series, plans to increase its focus on blockchain game creation despite volatility in the cryptocurrency market, according to a letter from Yosuke Matsuda, the president of the Japanese firm, on January 1.

The letter sought to summarize the company’s significant achievements in 2022 and outline its goals for 2023. Seven of the 15 paragraphs were on blockchain gaming, indicating that blockchain gaming would be a significant emphasis of the company’s investing strategy in the future.

In terms of new business domains, we named three focus investment fields under our medium-term business plan. Among those, we are most focused on blockchain entertainment, to which we have devoted aggressive investment and business development efforts.

Matsuda stated

Matsuda summarized the ups and downs of the cryptocurrency market in 2021 and 2022 before attempting to explain its fall. He claimed that although new technologies sometimes generate “confusion,” they eventually become accepted as a regular aspect of daily life. Accordingly, investors shouldn’t automatically discount the potential of the cryptocurrency market if there is turbulence.

New technologies and frameworks lead to innovation, but they also create considerable confusion. Having ridden out such societal tides, some such technologies and frameworks gradually become part of people’s lives, eventually giving rise to new businesses and growth.

Any technology that can withstand “societal tides,” continued Matsuda, will gradually ingrain itself into people’s lives and eventually give rise to new industries and economic expansion.

Following the excitement and exhilaration that surrounded NFTs and the metaverse in 2021, 2022 was a year of great volatility in the blockchain-related space. However, if this proves to have been a step in a process that leads to the creation of rules and a more transparent business environment, it will definitely have been for the good of the growth of blockchain entertainment.

Matsuda concluded the letter by saying that Square Enix is currently working on a number of blockchain games and would be unveiling more during 2023.

The letter suggests that, despite the uncertainty of 2022, the corporation has no intentions to scale back its expenditures in the area in 2023.

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