Square Enix, the developer of the Final Fantasy series, plans to increase its focus on blockchain game creation despite volatility in the cryptocurrency market, as stated in a letter from Yosuke Matsuda who serves as the president of this company on 1st of January.
The “A New Year’s Letter from the President” letter sought to summarize the organization’s significant accomplishments in 2022 and outline its intentions for 2023. Seven of the 15 paragraphs discussed blockchain gaming, suggesting that blockchain gaming is a key area of the company’s future investing strategy.
According to Matsuda, his team has been making “aggressive investment and business development efforts” in the investment area of “blockchain entertainment,” which will receive the majority of their attention in the medium term.
Matsuda attempted to explain the decline of the crypto market after analyzing its peaks and troughs in 2021 and 2022. New technologies, according to him, frequently lead to “confusion” but ultimately become accepted as a regular aspect of daily life. So even though the cryptocurrency market is volatile, investors shouldn’t automatically underestimate its potential.
Any technology that can withstand “societal tides,” continued Matsuda, will gradually ingrain itself into people’s lives and ultimately give rise to new industries and economic expansion. In the letter’s conclusion, Matsuda stated that Square Enix was developing a lot of blockchain games and will be announcing more in 2023.
Throughout 2022, Square Enix made a number of efforts in the blockchain game industry. It made the announcement that Final Fantasy collectibles would be made available on the Enjin platform in July. It became a node validator on the Oasys blockchain in September. To assist in the development of mobile play-to-earn games, Square Enix funded 7 billion yen ($52.7 million) in Gumi Games in December.
This most recent letter suggests that, despite the uncertainty of 2022, the corporation has no intentions to scale back its investments in the blockchain gaming area in 2023.
