Square Enix highlights blockchain investment in 2023 strategic plan

The president Square Enix Yosuke Matsuda shared in an annual letter that the game studio is committed to releasing high definition games and expand your business worldwide.

Developer final fantasy passionate about blockchain technology and intends toimplement your blockchain investment strategy. Square Enix has released some of the most anticipated games of 2022, and this June the studio will release the latest additions to the Final Fantasy series. Matsuda revealed that developing existing franchises like Kingdom Hearts into global blockbusters with an extensive IP collection is their top priority. He later added that they are also focusing on blockchain investments, especially in entertainment.

Legitimizing Web 3.0.Matsuda revealed that Square Enix sentaggressive investment and business development efforts into the blockchain-based entertainment industry. However, the aggressive investment strategy has caused concern among gamers. They feared that the company would abandon the development of hardcore games in favor of “fraudulent” games on the blockchain. However, Square Enix later stated that it would continue to make games for hardcore gamers.

Matsuda added:“Looking from the outside, I think it’s fair to say that blockchain has gained significant acceptance as a field in 2022, as evidenced by the “Web 3.0” that has become firmly established among business people. However, this year also saw volatility in the crypto and NFT (non-playable token) markets, which tracked the dramatic shifts in macroeconomics described above.”

Japan has become one of the most dynamicemerging markets Web3 in 2022, forecasting growth of more than 53% despite chaotic market conditions. Factors such as youth interest, progressive government policies, and a love of the arts have played a decisive role in the massive adoption of Web3 technologies in the country. Interestingly, in June 2022, the Japanese cabinet signed a plan called “Priority Policy Program for the Realization of the Digital Society”.

This plan resulted in the creation of an environment conducive todevelopment of Web3, including the use of Web3 technology. As a result, Square Enix is ​​optimistic about investing in Web3. The company believes that there are numerous business opportunities in this sector.

Matsuda shared:“New technologies and systems lead to innovation, but they also create a lot of confusion. Having experienced such social unrest, some technologies and systems gradually become part of people's lives, which ultimately leads to new business and growth.” According to Matsuda, 2022 has been a year of significant volatility for the blockchain industry after 2021 saw excitement and euphoria around NFTs and metaverse concepts.

However, the president shared the enthusiasm for 2023 andconsiders the previous year as a stepping stone for development and regulation. Matsuda added, “However, if it turns out that this was a step in the process that would lead to the creation of rules and a more transparent business environment, it would definitely benefit the development of blockchain entertainment.” The president added that existing and future Web3 games should run on a self-sustaining, decentralized model. He sees this concept and model as key to the success of the sector.

Matsuda shared his curiosity regardingof what games and entertainment Square Enix will create based on this model in 2023. There has been more discussion about game development at global gaming events lately compared to the speculative talk in 2021. Matsuda said: “The trend now is to see blockchain technology as a means to an end and to discuss what needs to happen to achieve the goal of delivering new experiences and excitement to consumers. I find this very beneficial for the future growth of the industry.”

On the reverse side, the Game Developer said thathe is developing several blockchain games with original IPs and is preparing to introduce more games this year. Square Enix has entered into a $300 million deal with Swedish publishing group Embracer to fund its blockchain gaming strategy in 2022. Square Enix is ​​at the forefront of the traditional gaming industry, developing some of the most famous gaming franchises such as Dragon Quest and Final Fantasy. Interest from the Japanese gaming giant could prove fruitful for Web3. The developer has a wealth of experience building infrastructure and bringing the next generation of users to Web3. Square Enix Releases Final Fantasy NFT Card Collection, Minecraft Rejects NFT Japanese NFT Market Predicts 53% Growth Despite Crypto Winter.