Square Enix CEO suggests Blockchain video games will launch within the next year
Square Enix CEO Yosuke Matsuda has hinted that the upcoming fiscal year will see more blockchain games released by the publisher as well for the foreseeable future. It’s a continuation of Square Enix’s foray into the world of Web 3.0 technologies, despite players’ insistence that the “play to earn” model is the last form of monetization they want.
With the sudden, but not surprising, winding down of Fall of Babylon and the disappointing sales of Abandoned, Square Enix has been experiencing a rather difficult time of late. However, many gamers have found it difficult to summon sympathy given that the last two New Year’s letters from CEO and President Yosuke Matsuda have indicated Square Enix’s resolute determination to invest in blockchain video games. While this may have seemed like a savvy business decision in some circles last year, late 2022 saw cryptocurrency, NFTs and other supposed Web 3.0 technologies implode, the most notable example being the collapse of FTX, which was once one of the largest cryptocurrency exchanges. Nevertheless, Matsuda noted in early 2023 that Square Enix has several blockchain games in development.
Stephen Totilo, a video game reporter for Axios, tweeted a transcribed exchange between Matsuda and someone who asked how he expected the company’s year-over-year growth to continue. For context, Square Enix is expected to have a particularly successful fiscal year due to titles such as Final Fantasy 16 and Final Fantasy 7 Rebirthtwo highly anticipated games that are currently scheduled for release in 2023. Therefore, Matsuda was asked what initiatives were in place to “ensure sustainable growth.”
Matsuda’s response started strongly, explaining that Square Enix’s development pipeline is established so that the next few years have a “good spread of new releases.” But his final sentence, which is likely to invoke the ire of gamers, saw Matsuda express hope that they would “enjoy the blockchain games” Square Enix plans to release this year and beyond. To say that previous blockchain game attempts have been met with hostility would be a serious understatement and speculation regarding the future of Square Enix will only intensify if these games see the light of day.
Furthermore, Square Enix’s recent troubles have translated into a decline in sales, a factor that likely influenced Matsuda’s decision to step down from the leadership position. With a replacement already decided, Square Enix is almost certain to have a new CEO after a shareholder meeting in June.
