Square Enix CEO Shows Deep Interest In NFTs And Blockchain Games For 2023

Square Enix has had an eventful year in 2022, releasing a plethora of games while also brewing upcoming titles like Final Fantasy 16. However, it has also shown its positive attitude towards the contentious NFTs and Blockchain technologies in the past. It seems that the studio will double down on releasing Blockchain games this year.

The CEO of Square Enix, Yosuke Matsuda, released a New Year’s letter, and it heavily discusses controversial technologies like NFTs, Blockchain, Metaverse, and the like. 2022 reportedly saw a massive change in Blockchain technology. Much like last year, Yosuke seems to reveal a deep interest in Blockchain-based games for 2023. 

Major Rundown

• Square Enix CEO, Yosuke Matsuda, published a New Year’s letter, which discusses its future plans to investors and the community. The open letter heavily emphasizes NFTs, Blockchain, and the overall innovative Web 3.0 technologies.
• 2022 was reportedly a volatile year for Blockchain-based entertainment, and Square Enix is still adopting a positive attitude toward the contentious market.
• Yosuke is looking to invest and grow further in the polemical industry this year and has grand ambitions to evolve in Blockchain-based entertainment.
• Square Enix is seemingly developing many Blockchain games based on its original IPs, but it will possibly reveal more unannounced Blockchain titles in 2023.

Square Enix CEO’s new year’s letter begins by discussing the current world events, inflation, and the problems faced by digital entertainment services and game studios.

Yosuke also elaborates on the studio’s recent history, strategies, and its subsidiary studios’ acquisition of Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and their respective IPs with Embracer Group.

“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.”

Yosuke further quotes how “blockchain gained significant recognition as a field in 2022.” The letter discusses all the environmental, and societal impacts and the opinions of people regarding Blockchain technologies.

Additionally, the multinational company shows deep interest in innovative Web 3.0 tech. The CEO notes, “we are most focused on blockchain entertainment, to which we have devoted aggressive investment and business development efforts.”

Square Enix wants to toil hard towards providing good quality Blockchain games moving forward. Yosuke iterated, “That is to say that what sort of new experiences and new excitement our Digital Entertainment business can deliver to our customers through its game development efforts and other endeavors under the self-sustaining, decentralized concept is extremely important.”

Yosuke notes how the significant volatility last year caused a major shift in Blockchain entertainment, and how to exploit it.

In the wake of the aforementioned turbulence in the cryptocurrency industry, there is now a trend to view blockchain technology as a mere means to an end and to discuss what needs to happen to achieve the end of delivering new experiences and excitement to customers. I see this as a very beneficial development for the future growth of the industry,” noted the CEO.

Hence, the CEO is hoping to further expand its horizons into developing Blockchain games this year. Square Enix is seemingly already developing “multiple blockchain games based on original IPs, some of which we announced last year,” but it is seeking to concentrate on brewing even more Blockchain games.

Yosuke further wrote in the new year’s letter, “we are undertaking preparations that will enable us to unveil even more titles this year.” We can expect the announcement of even more Blockchain-based games by Square Enix in 2023.

The CEO will evidently continue taking stakes, growing investments, and the Blockchain-based entertainment business. Yosuke articulates, “We are also engaged in global sourcing from an investment perspective and will continue to take stakes in promising businesses whether we find them in Japan or abroad.”

Furthermore, Yosuke recognizes the negative attitude against Blockchain and NFTs-based entertainment but wishes that Blockchain games grow further this year.

“Blockchain has been an object of exhilaration and a source of turmoil, but with that in the rearview mirror, we hope that blockchain games will transition to a new stage of growth in 2023. […] We will drive our businesses forward with the goal of making 2023 a year of major evolution and transformation.”

That’s not all; the Japanese multinational company will also seemingly reveal a “big announcement unrelated to FFXVII” this year. The new year appears jam-packed full of games for Square Enix.

What are your thoughts about Square Enix CEO’s appeal towards Blockchain and NFTs technologies for video games? Do you think Square Enix will double down and further support contentious features like NFTs in their titles in the near future? Do let us know your opinions in the comments below.

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