According to a letter from Yosuke Matsuda, president of the Japanese business Square Enix, the company is planning to increase its focus on blockchain game production. Yosuke Matsuda (the developer of the Final Fantasy series), the company is doing so despite volatility in the cryptocurrency market.
The letter was headed “A New Year’s Letter from the President,”. The company’s significant successes from 2022 were recapped, along with its intentions for 2023. Seven of the fifteen paragraphs discussed blockchain gaming, demonstrating that this sector would continue to be a crucial part of the company’s investment plan.
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According to Matsuda, his team has been making “aggressive investment and company development efforts” in the area of investing that will receive the most excellent attention in the medium term: “blockchain entertainment.”
Matsuda summarised the ups and downs of the cryptocurrency market in 2021 and 2022 and then attempted to explain why it fell. He claimed that although new technologies sometimes generate “confusion,” they eventually become accepted as a regular aspect of daily life.
Therefore, he said that if the cryptocurrency market is turbulent, it should only sometimes lead investors to question its potential. He added the following:
“Innovative ideas are sparked by new technology and frameworks, but confusion is sometimes a significant side effect.”
Matsuda continued by saying that any technology that can withstand “societal tides” will gradually ingrain itself into people’s lives and eventually give rise to new industries and economic expansion.
The author remarked that 2022 was a year of extreme volatility in the blockchain-related industry. And it may be due to the euphoria and exhilaration that accompanied NFTs and the metaverse in 2021.
But it will undoubtedly have benefited the development of blockchain entertainment if this has been a step in a process that results in the development of regulations and a more open business environment.
Square Enix is currently working on several blockchain games, and Matsuda concluded the letter by saying the company will unveil more in 2023.
In the blockchain game industry throughout 2022, Square Enix made several actions. Collectables for Final Fantasy will be made available on the Enjin platform, it was revealed in July. It started working as a node validator on the Oasys blockchain in September.
Square Enix gave mobile game developer Gumi Games a 7 billion yen ($52.7 million) investment in December to support the creation of mobile play-to-earn games.
Despite the uncertainty of 2022, this most recent letter suggests that the corporation has no intentions to scale back its expenditures in the area in 2023.