CEO announces company-wide shift towards blockchain technology
Square Enix CEO Yosuke Matsuda has announced that a refocus and “aggressive” research and development efforts will push the game publishing company towards NFT and blockchain gaming. Square Enix is among a number of game publishers to announce major action towards incorporating blockchain technology and play-to-earn mechanics in their products.
While the company already has a well-established artificial intelligence department, Square Enix is now turning to NFTs and virtual worlds as the next frontier in the gaming space. According to Yosuke Matsuda, 2021 was the year of the metaverse, and this trend is only going to become more visible in 2022.
This new focus will allow Square Enix to stay ahead of the curve and meet the growing customer demand for blockchain-based reward systems in games. While the company has already produced huge projects like Final Fantasy and Life Is Strange adding NFTs to the mix will definitely attract new audiences.
In his announcement, Yosuke Matsuda stated that NFTs will completely reshape how we interact with games and create virtual identities. Not only that, the unprecedented level of authentication and true ownership that blockchain tech brings to the table will also transform the way gamers and collectors perceive in-game assets. Aside from a new company focus on NFTs, Square Enix also invested more than $2 million in The Sandbox. This is one of the most popular virtual worlds at the moment.
Square Enix joins the blockchain exploration wave
With the recent New Year’s announcement by CEO Yosuke Matsuda, Square Enix positions itself next to competitors Ubisoft and Electronic Arts. Both companies have already endorsed the value of NFTs and blockchain technology.
As blockchain gaming continues to draw in more and more players, big publishing companies are starting to recognize the value of this technology. According to DappRadar’s Yearly Industry Report, about 50% of all the unique active wallets in the space (1.4 million) connected to blockchain games in 2021. Thanks to the emerging play-to-earn concept, blockchain gaming is becoming a hit among players from all over the world.
Following a very successful 2021, the blockchain gaming sector is bound to grow even more this year. Considering this, Square Enix is refocusing its attention towards building a new king of gaming product where “viable token economies will enable self-sustaining game growth.”
DappRadar will continue monitoring the blockchain gaming space, as new trends emerge and the metaverse continues drawing attention from investors. To learn the latest gaming news follow DappRadar on Twitter, or join our Discord community. Keep in mind – you can also explore DappRadar PRO and get exclusive access to data and members-only discussion rooms.