The studio behind the Final Fantasy series has stated that crypto games will be a primary emphasis of their future strategy.
According to the 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,” provided a summary of the company’s significant achievements in 2022 and an explanation of its intentions for 2023. Seven of the fifteen paragraphs discussed blockchain gaming, indicating that blockchain gaming will be a significant 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 “vigorous investment and company development activities.”
Following a summary of the crypto market’s fluctuations in 2021 and 2022, Matsuda sought to make sense of its fall. He stated that new technologies frequently cause “confusion” but are eventually incorporated into ordinary life. Therefore, investors need not necessarily mistrust its potential if the cryptocurrency market is volatile, he noted.
Matsuda noted that any technology that can withstand “societal tides” will eventually become a part of people’s life, spawning new firms and economic expansion.
“After the enthusiasm and elation surrounding NFTs and the metaverse in 2021, 2022 was a year of enormous volatility in the blockchain-related environment,” he said.
“However, if this proves to be a step in a process that leads to the adoption of rules and a more transparent business environment, it will unquestionably have been beneficial to the development of blockchain entertainment.”
Matsuda concluded the letter by noting that Square Enix has many blockchain games in development and will announce further titles throughout 2023.
Throughout 2022, Square Enix made various advances in the blockchain gaming industry. In July, they revealed that Final Fantasy collectibles would be released on the Enjin platform. It joined the Oasys blockchain as a node validator in September. Square Enix invested 7 billion yen ($52,7 million) in mobile game developer Gumi Games in December to aid in the creation of mobile play-to-earn products.
Despite the turmoil of 2022, this new letter suggests that the firm has no plans to reduce its expenditures in the space in 2023.