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Final Fantasy and Blockchain Investment Strategy

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Square Enix CEO Yosuke Matsuda shared in an annual letter that the game company is committed to delivering high-definition games and growing its business worldwide.

The Final Fantasy developer is interested in blockchain technology and is actively planning his blockchain investment. Square Enix has released some of the most anticipated games of 2022, and the company will release a new addition to the Final Fantasy series in June of this year.

Matsuda revealed that growing existing franchises such as Kingdom Hearts into the world of blockbusters with a large collection of IPs is their top priority. They later added that they are also focusing on blockchain investments, especially entertainment.

Final Fantasy and Create Web 3.0

Matsuda revealed that Square Enix has invested heavily in business development efforts in the blockchain entertainment industry. However, aggressive investment strategies have fueled players’ concerns. They fear abandoning hardcore game development in favor of blockchain “rip-off” games. However, Square Enix later stated that they will continue to make solid titles.

Matsuda added, Looking from the outside, I think it is fair to say that blockchain has gained a lot of respect as a field in 2022, as evidence that ‘Web 3.0’ has become a strong term among entrepreneurs money. However, the year there was also a sign of volatility in the cryptocurrency and NFT (non-fungible token) market following the significant changes in the economy described above.

Japan is one of the most active Web3 markets in 2022, projecting a growth of more than 53% despite the turbulent market conditions. Factors such as youth interest, progressive government policies and partnerships for the arts have played an important role in the adoption of Web3 technology in the country. Interestingly, Japanese companies approved a plan called “Priority Policy Program for Realizing a Digital Society” in June 2022. The plan led to the creation of a favorable environment for Web3 development, including the use of technology Web3. As a result, Square Enix is ​​optimistic about investing in Web3. The company believes that there are many business opportunities in the area.

Matsuda said, “New technologies and new processes lead to innovation, but they also cause confusion. After overcoming these social waves, some of these technologies and processes gradually become part of people’s lives, ultimately resulting in new business and growth.

A Tough Year for NFTs

Matsuda said that 2022 is a year of great change for the blockchain industry following the excitement and euphoria surrounding NFT and the metaverse concept in 2021. However, the President shared his enthusiasm for 2023 and saw the previous year as a starting point for development and legislation.

Matsuda added, “However, if this becomes a step in the process that leads to the creation of rules and a transparent business environment, it must be for the development of blockchain entertainment.”
The CEO added that existing and future Web3 games will work based on its own unique style. He considers this idea and model as the key to the success of the department.

Matsuda shared his interest in the type of games and experiences Square Enix will reveal in this model as we approach 2023. The global sports event has produced active sports development discussions in recent times compared to the unprecedented discussions in 2021.

Matsuda said, “There is now a tendency to look at blockchain technology as the only means to an end and to discuss what needs to be done to achieve the goal of providing customers with new experiences and happiness. I see this as a very beneficial development for the future growth of the company.

The game developer said it is developing several blockchain games and original IPs and is preparing to unveil more titles this year. Square Enix has signed a $300 million deal with Swedish publisher Embracer to support its blockchain game plan through 2022.

Why You Should Care

Square Enix is ​​at the forefront of the traditional game industry, developing some of the most popular game franchises such as Dragon Quest and Final Fantasy. The interest of the Japanese video game giant could be fruitful for Web3. The developer has extensive experience in building infrastructure and hosting users next to Web3.

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