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Square Enix Doubles Down on Blockchain Commitments in 2023

There were whispers of Square Enix introducing aspects of blockchain to its products as well as building NFT and tokenized economies within the gaming platform.

Square Enix
By Shubham Dalal | Jan 3, 2023 | 3 Min Read follow icon Follow Us

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Last year, Yosuke Matsuda, president of Square Enix, announced his intention to push the firm towards metaverse integration. There were whispers of Square Enix introducing aspects of blockchain to its products as well as building NFT and tokenized economies within the gaming platform. Now, once again after issuing a ‘New Year’s letter’, Matsuda has doubled down on that promise, talking about the company’s intentions to start the Web 3.0 journey.If you need more information about Square Enix Doubles Down on Blockchain Commitments in 2023 then read carefully and don’t forget to share with your friends.

Square Enix Doubles Down on Blockchain Commitments in 2023 :

In this letter, the word ‘blockchain’ was mentioned fourteen times, much to the dismay of gamers, who could not approve of developers getting involved in a highly volatile industry. Earlier this year, Square Enix sold several studios to farm cash so that it can pump in investments that will delve the company into blockchain, AI and cloud-based technologies. In Mastuda’s letter, it is clearly written, ‘We are most focused on blockchain entertainment’, but currently,No one really knows how.

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In September, Square Enix partnered with the Oasis Gaming blockchain, but it’s a pairing that has yet to materialize in terms of any actual deliverables. For now, all that is known is that the move was tied to the relatively newly formed blockchain entertainment business division, which sits firmly at the heart of Square Enix and its forward-looking roadmap.

Back in May, Square Enix started moving toward these goals with great enthusiasm. In a complete and sudden sweep, Square Enix sold several studios to Embracer Group, a deal that came with a $300m price tag, to invest in blockchain-based activities. These progressive steps were summed up by Matsuda in his latest New Year’s letter:

“We are most focused on blockchain entertainment, to which we have dedicated aggressive investment and business development efforts. On 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”, which has become firmly established among businesses. ‘

However, Matsuda outlined the highly volatile performance of the cryptocurrency and NFT markets this year, touching on the tragic collapse of the FTX platform. Regardless, Square Enix’s president has set his sights firmly on Web 3.0 development, and has even gone so far as to suggest that there is extensive work behind the scenes to push the company into the space. Has been done:“Our group has several blockchain games based on original IP under development, some of which we announced last year, and we are making preparations that will enable us to unveil even more titles this year.” ‘

Recently, it was revealed that, in 2023, no new Square Enix titles will debut on the Xbox platform. Instead, all new Square Enix titles (and remasters) will be launched for PlayStation devices. This comes as little surprise, as in recent weeks, Sony has begun filing for patents directly related to NFT and blockchain technologies.It’s now a waiting game, and only Square Enix knows what’s going to happen next.

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