• Square Enix, a prominent Japanese video game developer and publisher, has revealed that it will continue to invest in blockchain games despite the recent turbulence in the crypto market.
• Yosuke Matsuda, the president of the company, said the game publisher will double down on Web3 gaming in the upcoming year.
• He specifically mentioned the Japanese government’s focus on encouraging Web3 development as part of a plan called the „Priority Policy Program for Realizing a Digital Society.“
Despite the extreme volatility in the crypto and NFT space and a somber string of news stories with blockchain connections, prominent Japanese video game developer and publisher Square Enix has revealed that it will continue to invest in blockchain games. Yosuke Matsuda, the president of the company, announced in a Sunday letter that Square Enix is „most focused“ on blockchain-powered gaming amid its new business development efforts and is developing „multiple blockchain games“ based on original IP. The firm is also still considering investment opportunities around blockchain „in Japan or abroad,“ he wrote.
Matsuda said that, despite the bear market, blockchain has gained significant recognition as a field in 2022 as evidenced by „Web 3.0“ becoming a firmly established buzzword among businesspeople. He specifically mentioned the Japanese government’s focus on encouraging Web3 development as part of a plan called the „Priority Policy Program for Realizing a Digital Society,“ which even awarded some authorities with NFTs.
Square Enix has plans to launch even more blockchain games in 2023, and is optimistic about the potential of the technology. Matsuda noted that, „Blockchain has been an object of exhilaration and a source of turmoil, but with that in the rearview mirror, we hope that blockchain games will transition to a new stage of growth in 2023.“
The game publisher is well aware of the risks associated with investing in blockchain, but is confident that its commitment to the technology will pay off in the long run. In addition, the company is exploring other potential applications of blockchain in its business, such as digital asset management and tokenization. With its commitment to investing in blockchain games, Square Enix is confident that its investments in the technology will continue to pay off in the future.
