Square Enix reveals ‘aggressive investment’ in blockchain games PLUS plans to release them in 2023
In a letter by Yosuke Matsuda, President of Square Enix, founders of the Final Fantasy franchise revealed that blockchain games will be a major focus of its strategy going forward.
According to Cointelegraph, the letter, titled “A New Year’s Letter from the President,” dedicated 7 out of 15 paragraphs on blockchain gaming, evidence of their investment strategy going forward.
Matsuda stated that “blockchain entertainment” will be the most focused on in the medium term; where they have devoted “aggressive investment and business development efforts.”
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Despite the ongoing turbulence in the crypto market, Matsuda noted that new technologies often cause “confusion” but eventually become accepted as a normal part of everyday life.
So the bear market, which has no clear end in sight, should not necessarily cause investors to doubt the potential of blockchain gaming, adding:
“Any technology that is able to ride out “societal tides” will gradually become part of people’s lives and eventually give rise to new businesses and growth.”
His letter summarizes the ups and downs of the crypto market in 2021 and 2022. Matsuda mentions the excitement and exhilaration that surrounded NFTs and the metaverse in 2021, and how 2022 challenged the shelf life of various elements and tools 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,” says Matsuda.
To sum up his letter, Matsuda stated that Square Enix has multiple blockchain games under development and will be announcing more over the course of 2023.
July 2022: Square Enix announced that it would release Final Fantasy collectibles on the Enjin platform.
September 2022: Square Enix joined Oasys blockchain as a node validator.
December 2022: Square Enix invested 7 billion yen ($52.7 million) into mobile game developer Gumi Games, to help develop mobile play-to-earn (P2E) titles.
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