September 27, 2023

Square Enix: We're Betting on NFTs and Blockchain

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1 min.

Square Enix: We're Betting on NFTs and Blockchain

The leadership of the Japanese game studio Square Enix believes that, despite the fall of the cryptocurrency market, the company should believe in the potential of the blockchain and non-fungible tokens.

CEO Yosuke MatsudaMatsuda sent out a letter to Square Enix employees titled "Happy New Year from the President." In the letter, the president of the company spoke about the achievements for 2022 and plans for 2023. 7 out of 15 paragraphs of the appeal were devoted to blockchain. Based on Matsuda's letter, blockchain games will be a priority for Square Enix in the near future.

“New technologies and frameworks give usinnovations, but often create problems. After the excitement of 2021, we have seen significant market volatility. But if it turns out to be an incentive for creating a regulatory framework and transparent regulation, then it will definitely benefit the blockchain industry,” Yosuke Matsuda described the state of the cryptocurrency market.

The head of Square Enix stressed that the company is doingbig bet on blockchain. Currently, several games are being developed at once using distributed registry technology and NFT. Matsuda promised that as early as 2023, several announcements of games created using the blockchain will be made. And, despite the events of 2022, the company does not plan to reduce investments in such projects.

It was previously reported that Square Enix entered into a partnership with Gumi to develop the metaverse.