Square Enix strengthens its support for blockchain and NFT projects

The video game development company reaffirms its support for blockchain projects and NFT games, although they are not concerned about their volatility, as they see it as something positive for their development.

We have seen how during 2022 Square Enix stated its position supporting this type of technologies, as we have reported from NFTexpress in the article published on November 9, where it announced the launch of Symbiogenesis, one of its biggest NFT projects to date.

The Japanese company continues to advance in its commitment to non-fungible tokens, a technology that is increasingly adopted in various fields, and in this case, video games.

Despite the volatility of the market for this type of digital assets, the developer of iconic video game sagas such as Final Fantasy and Dragon Quest has decided to reaffirm its support for this technology.

In this regard, none other than Yosuke Matsuda, who holds the position of president of Square Enix, has published an open letter on behalf of the company on January 1, 2023 regarding this issue.

This letter highlights an aggressive investment in blockchain and NFT. Within their medium-term business plan, they focus on three investment fields. The most important of them, they remarked that it is the development of blockchain-based video games, for which they have dedicated large investments and considerable business development efforts.

Matsuda also stated that new technologies lead to innovation, but at the same time bring some confusion as well. After overcoming these complications, he remarked that some of these technologies then gradually become part of people’s lives.

Following these lines, the president of the Japanese company referred to the excitement that we could witness in 2021, 2022 was a year that has had marked trends of volatility in the blockchain ecosystem.

But without prejudice to this, he believes that if this proves to have been a stage in the process leading to the creation of a regulatory framework and a transparent business environment, it will undoubtedly have been for the betterment of the development of blockchain projects.

Continuing with what Matsuda mentioned in the published letter, he refers that if we consider traditional gambling as centralized, then blockchain gambling should work on the self-sustaining decentralized model.

A key point he makes in this publication is that at the beginning it was thought that blockchain and NFT content should lead to monetization. But after different trends in the digital asset market, a tendency has developed to consider blockchain technology as a means to an end, and to question what needs to be done so that the end can deliver new experiences to customers.

On the other hand, they mention the company’s strategy of having sold some of its video game studios, so they pointed out that through this transaction it allows them to launch innovative businesses to be able to continue their investments in issues linked to blockchain, artificial intelligence and the cloud.

In another section, Matsuda highlights the push being made in Japan to encourage companies to venture into the Web3 field. In June 2022, the Japanese cabinet signed the Priority Policy Program for the Realization of a Digital Society.

In that plan, an explanation is included regarding the creation of an environment to promote Web 3.0, including the use of blockchain-based NFT. Japan’s Digital Agency has also launched a Web3 study team.

IMPORTANT: NFTEXPRESS only publishes articles for informational purposes. Nothing contained herein contains the character of recommendation or promotion of any type of investment for the reader. Before making any kind of investment, it is recommended to consult with a specialist in the matter.

Written by Luciano Garriga (TW:@luchogarriga) for NFT Express