Square Enix, the Final Fantasy creator reveals plans to invest in blockchain games
On January 1, Square Enix Holding announced in a letter to increase blockchain interest and investment in 2023.
Source: VGC News Square Enix, Final Fantasy creator reveals plans to invest in blockchain games
Briefly summarized
- Square Enix announced its plan to expand blockchain-based games
- Amid dissent from the fanbase, the company sees the opportunity
- The company received profits from previous investments
By Nidhi Bhardwaj: Square Enix Holdings Co. Ltd. aims to focus on blockchain game investment in 2023, according to the latest letter revealed by Yosuke Matsuda, the president of Square Enix Holdings Co., Ltd, on January 1. Despite the continued mistrust of the fanbase towards blockchain initiatives, the company has still planned to focus on blockchain development in video games.
What does the company believe in?
According to the letter from Matsuda, it announced that “We are focused on Blockchain entertainment to which we have devoted aggressive investment and business development efforts.”
It’s been an amazing year of gaming, and 2023 looks even better!â „ï¸
Here’s a message from all of us at Square Enix wishing you a Happy New Year!
ðŸ“½ï¸ pic.twitter.com/AOSRXdjizg— Square Enix (@SquareEnix) 31 December 2022
The company further declared its plan to launch several blockchain-infused games based on the company’s intellectual properties this year. In November, Square Enix launched its first original game with NFT, called Symbiogenesis, followed by the world-famous franchises such as Final Fantasy and Kingdom Hearts.
According to the website’s data, the company revealed that both the world-renowned games (Final Fantasy and Kingdom Hearts) recorded 65.2 billion Japanese yen or 2.8 billion US dollars in net revenue as of March 31, 2022.
Why did Square Enix dive into blockchain expansion amid crypto failures?
In July 2022, Square Enix announced the release of Final Fantasy collectibles on the Enjin platform. According to the data, in September the company joined the Oasys blockchain as a node validator. To develop a mobile game to earn titles and constantly innovate, Square Enix also invested 7 billion yen or $52.7 million in mobile developer Gumi Games.
“Yes, new technology causes confusion among people to accept, but this will be accepted as the normal part of everyone’s life, given its potential,” Matsuda said. He further noted the volatility in the blockchain-related space and perceived 2023 as the year of change.
