Author : Kenno

Date : Jan 05,2023

The well-known creator of well-liked video games like Final Fantasy

Reaffirms Commitment to Web3 Technology by Square Enix

Square Enix's president has given the anticipation of blockchain gaming among video game players a "aim of making 2023 a year of tremendous change and transformation."

The well-known creator of well-liked video games like Final Fantasy has published a statement reiterating their dedication to the Web3 industry. The industry's adoption of NFTs and other blockchain-based solutions has advanced significantly as a result of this.

According to Yosuke Matsuda, president of the company, Square Enix has upped its commitment in Web3 technology and devoted significant resources to its development and application.

Put the emphasis on blockchain entertainment

Within the gaming sector, there has been some debate regarding the decision to enter the blockchain space. Square Enix is still committed to investigating this technology's potential, nevertheless.

Matsuda stated that: “In terms of new business domains, we named three focus investment fields under our medium-term business plan. Among those, we are most focused on blockchain entertainment, to which we have devoted aggressive investment and business development efforts. Looking externally, I think it is fair to say that blockchain gained significant recognition as a field in 2022, as evidenced by ‘Web 3.0’ becoming a firmly established buzzword among businesspeople.”

Square Enix has a large investment in NFTs and blockchain.

The creator of Dragon Quest has already shown a sizable amount of commitment in the field of blockchain technology and NFTs.

"Our Group has numerous blockchain games based on original IPs under development, some of which we unveiled last year," Matsuda stated in his letter. "We are undertaking preparations that will enable us to unveil even more titles this year."

"We expect that blockchain games will transition to a new stage of growth in 2023," the speaker stated. "Blockchain has been an object of thrill and a source of trouble."

Square Enix has already signed a $52 million agreement with mobile app developer Gumi and collaborated with Oasys as node validators. In order to invest further in blockchain technology, they even sold off a number of intellectual properties, making $300 million in the process.

Additionally, Cross the Ages, a digital trading card game based on Polygon, just hired Square Enix to serve as a strategic advisor. Additionally, it invested in The Sandbox and the gaming startup ZEBEDEE.

2023 has promise for blockchain gaming

Since more players are interested in receiving rewards for their efforts, the future of play-to-earn games is bright. Despite the difficulties encountered in 2022, blockchain technology has the potential to be a workable solution to many problems in the gaming industry.

According to a recent ZEBEDEE poll, 67% of participants would be willing to play additional games in exchange for cryptocurrencies or NFTs. This demonstrates how Web3 gamers are upbeat about the future.

Blockchain gaming has a bright future if developers can harness these technologies to build incentives and encourage involvement.