Major publisher Square Enix still believes that blockchain games are a great investment due to certain reasons.
Last year’s New Year letter revealed that Square Enix was going to commit to making blockchain and NFT games. Later that year, it also announced its plans to sell NFTs. Some fans were disappointed since anything related to NFTs and blockchain had a bad reputation, others were indifferent to it, and most of them were baffled by its commitment.
In this New Year’s Letter, Square Enix President Yosuke Matsuda maintains the company’s stance when it comes to NFTs and blockchain games. He stated that the company is still committed to investing in blockchain games. He admits that the market was volatile last year but it might just ultimately benefit its plans for them.
Matsuda revealed that aside from blockchain games, there are two other focus investment fields under their medium-term business plan. He did iterate that blockchain entertainment is where they are more focused right now.
“Looking externally, I think it is fair to say that blockchain gained significant recognition as a field in 2022, as evidenced by “Web 3.0” becoming a firmly established buzzword among businesspeople,” Matsuda said. “However, the year also saw volatility in the cryptocurrency and NFT (non-fungible token) markets that tracked the dramatic shifts in the macroeconomy described above. The latter half of the year in particular produced a somber string of news stories with blockchain connections, including the scandalous bankruptcy filing of FTX in November.”
Is blockchain games the future? Who knows, but it seems Square Enix, Matsuda specifically, has full faith in it. The gaming community might not that quick to trust but in time, that could turn around. It could be a matter of time.