The studio behind the Final Fantasy franchise has stated that blockchain games will be a primary emphasis of their future strategy.
According to a letter dated January 1 from the Japanese company’s president, Yosuke Matsuda, Square Enix will increase its focus on blockchain game production despite the volatility of the cryptocurrency market.
The letter, titled “A New Year’s Letter from the President,” was intended to provide a summary of the company’s important achievements in 2022 and an overview of its intentions for 2023. Seven of the fifteen paragraphs discussed blockchain gaming, indicating that blockchain gaming will be a major emphasis of the company’s future investment strategy.
Matsuda claimed that “blockchain entertainment” will be his team’s medium-term investment priority, to which they have devoted “aggressive investment and business development efforts.”
After describing the market’s ups and downs in 2021 and 2022, Matsuda tried to figure out why it was going down. He said that new technologies often cause “confusion,” but that over time, people get used to them and see them as normal. So, if there is trouble in the cryptocurrency market, investors shouldn’t automatically doubt its potential. he stated, adding:
“New technologies and frameworks lead to innovation, but they also create considerable confusion.”
Matsuda also said that any technology that can withstand “societal tides” will become part of people’s lives over time and lead to new businesses and growth.
“Following the excitement and exhilaration that surrounded NFTs and the metaverse in 2021, 2022 was a year of great volatility in the blockchain-related space,” he noted.
“However, if this proves to have been a step in a process that leads to the creation of rules and a more transparent business environment, it will definitely have been for the good of the growth of blockchain entertainment.”
Matsuda ended the letter by saying that Square Enix is working on several blockchain games and will announce more throughout 2023.
Square Enix did a lot of different things in the blockchain gaming world in 2022. In July, it said that Final Fantasy collectibles would be coming to the Enjin platform. In September, it became a node validator on the Oasys blockchain. In December, Square Enix put $52.7 million ($7 billion yen) into Gumi Games, a company that makes mobile games, to help it make mobile “play-to-earn” games.
Even though 2022 was a rough year, this recent letter makes it sound like the company has no plans to slow down its investments in space in 2023.