Major Game Publisher Square Enix Continues to Invest in Blockchain Games Despite Bear Market

Image Source: Square Enix

Prominent Japanese online game developer and writer Square Enix has revealed that it’s going to proceed to make investments in blockchain video games regardless of the current turbulence in the crypto market. 

In a Sunday letter, Yosuke Matsuda, the president of the corporate, stated the sport writer will double down on Web3 gaming in the upcoming 12 months. He detailed that Square Enix is “most targeted” on blockchain-powered gaming amid its new enterprise improvement efforts.

Matsuda stated that Square Enix is creating “a number of blockchain video games” primarily based on authentic IP, slightly than its current franchises, with plans to launch much more such video games in 2023. The agency can also be nonetheless contemplating funding alternatives round blockchain “in Japan or overseas,” he wrote.

“Blockchain has been an object of exhilaration and a supply of turmoil, however with that in the rearview mirror, we hope that blockchain video games will transition to a brand new stage of development in 2023.”

Matsuda famous that regardless of the acute volatility in the crypto and NFT house and a somber string of reports tales with blockchain connections, together with the scandalous chapter submitting of FTX in November, there was nonetheless widespread adoption of blockchain expertise. He stated:

“Looking externally, I feel it’s honest to say that blockchain gained important recognition as a area in 2022, as evidenced by “Web 3.0” changing into a firmly established buzzword amongst businesspeople.”

He particularly talked about the Japanese authorities’s give attention to encouraging Web3 improvement as a part of a plan referred to as the “Priority Policy Program for Realizing a Digital Society.” The nation even awarded some authorities with NFTs. 

Matsuda additionally tried to painting the current crypto market downturn as pure. He stated that new applied sciences typically trigger “confusion” earlier than gaining widespread adoption. So if there’s turmoil in the crypto market, this shouldn’t essentially trigger traders to doubt its potential.

Square Enix is a online game writer and developer headquartered in Shinjuku, Tokyo, Japan. The firm is understood for its science fantasy anthology media franchise Final Fantasy which has turn into a worldwide phenomenon due to its cutting-edge graphics. 

In November final 12 months, the corporate introduced its first blockchain recreation. Called Symbiogenesis, the sport was constructed round Ethereum NFTs and described as a “digital collectible artwork expertise.” According to a recent tweet, the “gameplay revolves round selecting whether or not to monopolize or [share]” data with different gamers.

As reported, Square Enix additionally partnered with NFT platform Enjin to launch its digital assortment of playing cards celebrating the twenty fifth anniversary of Final Fantasy 7, a 1997 role-playing online game. The NFTs are primarily based on the favored recreation Final Fantasy VII, and are tied to bodily buying and selling playing cards and toys that can be launched this 12 months.

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