Japanese multinational gaming company Square Enix, best known for its Final Fantasy game and Tomb Raider series, announced that blockchain is a key part of its investment plans in 2023. The company has multiple blockchain games under development, with more titles to be announced this year.
While 2022 saw the crash of crypto and NFT prices, Square Enix is of the opinion that speculative investors drove the content created in these platforms with the purpose of monetization. The gaming company believes that has now evolved to developing utility. “There is now a trend to view blockchain technology as a mere means to an end and to discuss what needs to happen to achieve the end of delivering new experiences,” said Yosuke Matsuda, President of Square Enix Holdings.
In its new years’ announcement last year, Square Enix highlighted the potential of in-game tokens and play-to-earn economies, arguing that a self-sustaining game economy would be created by passionate players who create in-game content. It launched a Blockchain Entertainment Business Division in February 2022.
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