Square Enix moves forward with blockchain, NFT, and Web3 efforts

Square Enix, the company behind the beloved Final Fantasy video game series, is doubling down on its blockchain focus. President Yosuke Matsuda said in an annual letter that he would commit to the strategy.

Square Enix, the developer behind popular game franchises such as Final Fantasy and Dragon Quest, aims to continue its blockchain focus. President Yosuke Matsuda revealed in an annual letter that the company will be exploring opportunities in blockchain entertainment.

This includes increasing investment in blockchain technology. matsuda said that The company has “devoted aggressive investment and business development efforts.” Square Enix’s decision to enter the blockchain space has generated some heated discussion in the gaming world, but the company remains committed to the idea. Matsuda said,

“Looking in from the outside, I think it’s fair to say that blockchain will gain significant recognition as a sector in 2022, as evidenced by ‘Web 3.0’ becoming firmly established among businesses.” However, the year also saw volatility In cryptocurrency and NFT (irreplaceable token) markets that track the dramatic changes in the macroeconomics described above.

He also mentioned the Japanese government’s focus on encouraging Web3 development. The government has started a department for this purpose, and Square Enix believes there is a business opportunity here.

Square Enix Blockchain

Square Enix is ​​already neck-deep in blockchain and NFTs

Square Enix’s efforts in the blockchain space are well documented. The Japanese company has worked with both common blockchain technology and NFTs.

in its efforts the fact that it’s partnership to become one with the oasis node verifier. It also signed a $50 million deal with mobile and NFT developer Gumi. company too partnership With double jump.tokyo to work on NFT content.

Its most high-profile incident occurred last year when it sold many of its IPs To invest more in blockchain technology. It earned $300 million from this sale.

2022 Was Tough For P2E Gaming, But Interest Remains

play-to-earn It has been a tough 2022 in sports, with many sports crashing and low participation even from well-known figures. Despite its growing popularity, crypto winter Wasn’t kind to this niche. This is why many major gaming companies have considered blockchain technology, although Microsoft gaming head Phil Spencer caution urged,

However, interest in it remains high. A survey conducted by ZEBEDEE shows that 67% of respondents would be happy to play more games if they were rewarded in crypto. It also showed that new tokens and NFTs were popular among gamers.

disclaimer

BeInCrypto has reached out to the company or the person involved in the story for an official statement regarding the recent development, but has yet to hear back.

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