Square Enix Expands Blockchain Gaming Venture with Elixir
Gaming giant Square Enix is partnering with web3 game platform Elixir to drive the adoption of web3 games among traditional gamers. This strategic partnership aims to generate visibility and interest in blockchain games and increase mass adoption during 2023. Elixir is a PC game distribution platform that showcases both web3 and traditional games side by side, with little to distinguish between them.
While many gaming companies have retreated from blockchain and NFTs, Square Enix is doubling down on this technology. In January 2023, Square Enix’s former president, Yosuke Matsuda, announced the company’s vision for aggressive investments in blockchain technology and NFTs. Currently, the company is preparing for the full release of its first NFT game, Symbiogenesis.
The recent collaboration with Elixir Games shows that Square Enix is committed to pursuing its vision. This means gamers can expect Web3 integration with their popular titles going forward.
According to the press release from the Japanese video game developer and publisher, Elixir Games aims to offer a simple, seamless experience to the traditional gamer by hiding web3 technology under the hood. The recent integration with Epic Games has enabled users to play any game in the Epic library alongside their favorite web3 games.
The plan behind this integration is that if Elixir Games can fill enough non-web3 games next to web3 games, players won’t be able to tell the difference and get hooked on web3 games.
Advantages of Web3 and NFT integration in video games
Several benefits can be realized with the integration of Web3 and NFT in traditional video games. Primarily, it can add new levels of interaction and engagement to traditional video games by allowing players to buy, sell and trade unique digital assets within the game.
It can also provide players with a more immersive gaming experience by creating a more realistic economy and allowing players to own and control their digital assets. Similarly, by leveraging blockchain technology, game developers can create more transparent and secure in-game transactions, reducing the risk of fraud or theft.
Controversy surrounding Blockchain Gaming
Web3, blockchain and NFTs have been deeply controversial in gaming. While many studios and publishers were initially excited about blockchain technology, several faced intense criticism for suggesting they were using this technology. Valve and itch.io banned blockchain technology from their platforms outright, citing its overwhelming use for fraud.
Climate Replay, a non-profit organization focused on reducing the environmental impact of games, created an anti-NFT pledge last year, which a handful of studios signed. The pledge was established to avoid the serious and ongoing problems associated with blockchain systems. These systems require huge amounts of energy to run and can cause serious environmental damage.
On the side of traditional hardcore gamers, there is growing concern that their use may contribute to the commoditization of video game assets, leading to a situation where only those who can afford to purchase rare NFTs can fully enjoy the game.
Square Enix continues to be bullish on Blockchain Games
Despite the controversy surrounding blockchain technology in traditional gaming, Square Enix believes that blockchain gaming will enter a new stage of growth in 2023. The partnership with Elixir Games brings Square Enix closer to decentralized gaming, and both companies expect to see more industry leaders enter the space with impactful projects as the year progresses.
More details about the partnership are expected to be announced in the coming months.
Final thoughts
Square Enix’s partnership with Elixir Games demonstrates their commitment to blockchain gaming and increasing mass adoption during 2023. Elixir Games’ technology offers a simple, seamless experience to traditional gamers and can entice them to try web3 gaming without even being ready over it. While controversy surrounds blockchain technology, Square Enix is convinced that this technology will play a significant role in the future of gaming.
Giancarlo is an economist and researcher by profession. Before joining Blockzeit’s dynamic team, he handled several crypto projects for both the public and private sectors as a project manager for a consulting firm.
